Brac Bank Auto Loan

Brac Bank Auto Loan

A Very Flexible Package With Only 11.25% Interest Rate and Fixed Rate Facility.

Key Product Features

Interest Rate 11.75%
Interest Rate varies from 11.25% to 12.50% depending on the loan amount and customer segment. 12.5% for the Businessmen.

Floating (Variable) Interest
Min. financing Amount BDT200000
Max. financing Amount BDT4000000 4000000
Min. loan tenure 1 year
Max. loan tenure 5 year
Islamic / Conventional Conventional
Approval duration If all documents are okay, Brac Bank may take approximately 2-5 working days to be approved to get this loan.

Fees and Charges

One time set-up Penalties
Processing fee
0.5% on approved loan amount.

Sanction letter fee
Early Settlement
2% (within 3 years), 1% (after 3 years and before expiry).

Late Payment Charges
2% per month on overdue amount.
Other Charges
  • Quotation Change Charge BDT 1000/- each time.
  • EMI Date reschedule charge BDT 2,000.
  • IGPoA (Irrevocable General Power of Attorney) BDT 850.
  • Duplication of BA letter copy BDT 100/- each time.
  • Loan rescheduling fee: 1.0% of the outstanding loan amount or BDT 15,000/- whichever is higher.
  • 15% VAT is applicable on all fees and commissions as per Govt. circular no SRO 117-LAW/2002/342-VAT dated June 06, 2002.


Age requirement
Age 25years - 65years

Min Income requirement
BDT30000 gross per month

Employment Eligibility
  • Salaried Employee
  • Self Employed
  • Land Owner
  • Available for Salaried individuals, Business Persons, Self Employed & Landlord.
  • Length of service: Confirmed employment with total 1 year work experience.
  • Age of Business: Minimum 2 years.

Other requirements

Car Registration
Joint registration mandatory.
Allows joint applicant?
Car Insurance
1st Party Insurance.

Hypothecation over the car.

You just need only one guarantor to be approved to get this loan.

Brac Bank Auto Loan

Required Documents

Documents Required:

  • Latest one year's personal bank statement. 
  • Photocopy of national ID/Passport.
  • One copy passport size photograph of the applicant.
  • One copy passport size photograph of guarantor.
  • Price quotation of the vehicle.
  • Business card/ visiting card of the applicant.
  • Personal TIN certificate.

Additional documents required for salaried person:

  • Letter of Introduction stating salary, issued by the employer. 

Additional documents required for business person:

  • Copy of Trade License.
  • Company’s bank statement for last one year.
  • Memorandum of Articles for Limited Liability Company.

Additional documents required for self employed person:

  • Professional Certificate issued by authorized institution.

Additional documents required for landlord:

  • Valid documents of the property, Rent receipt/deed.

Additional Information

  • #Minimum monthly Income is BDT 30,000 (for salaried); BDT 35,000 (for others).
  • #Minimum Age requirement 25 Years at the time of application.
  • #Maximum Age is 65 Years at the time of maturity.
  • #For Reconditioned Cars, Loan Is Applicable For Upto 5 Years Old Model.
  • #50% down payment needed. The rest can be taken from the bank.