EBL Auto Loan
An attractive package with lowest interest rate.
Key Product Features
| Interest Rate |
11.50% Lowest interest rate is provided by EBL at this moment. Fixed Interest N/A |
|---|---|
| Min. financing Amount | BDT350000 |
| Max. financing Amount | BDT4000000 or 50% of car value whichever is lower. |
| Min. loan tenure | 1 year |
| Max. loan tenure | 5 year |
| Islamic / Conventional | Conventional |
| Approval duration | If all documents are okay, Eastern Bank may take approximately 1 month to be approved to get this loan. |
Fees and Charges
| One time set-up | Penalties |
|---|---|
|
Processing fee 1% on approved loan amount. Sanction letter fee N/A |
Early Settlement 2% and Partial payment fee: 2%, Not before 6 months and atleast 30% of the outstanding amount. Late Payment Charges 3% on overdue amount. |
Other Charges
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Eligibility
Age requirement
Age 22years - 60years
Min Income requirement
BDT30000 gross per month
Employment Eligibility
Car Registration
Yes.
Allows joint applicant?
Yes
Car Insurance
1st Class Insurance Required.
Security
You just need only one personal guarantor to be approved to get this loan.
Age 22years - 60years
Min Income requirement
BDT30000 gross per month
Employment Eligibility
- Salaried Employee
- Self Employed
- Land Owner
Experience:
- #Salaried executives: Minimum 3 years experience with 6 months employment with present employer.
- #Self Employed like Doctors, Architects, Engineers, Chartered Accountant and Certified Consultant & IT Professionals: Minimum 2 years experience , Businessperson : Minimum 2 years experience.
- #Businessperson : Minimum 2 years experience.
- #Landlords.
Other requirements
Car Registration
Yes.
Allows joint applicant?
Yes
Car Insurance
1st Class Insurance Required.
Security
- One personal guarantee.
- Joint registration of the vehicle.
- First party comprehensive insurance of the car.
You just need only one personal guarantor to be approved to get this loan.
EBL Auto Loan
Required Documents
- 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 the authorized institution.
Additional documents required for landlord:
- Valid documents of the property, Rent receipt/deed.
Additional Information
- EBL offers this product for Brand new cars and for Reconditioned cars they prefer Toyota "Station Wagons, Sedan & SUVs" First.
- Joint Applicant Allowed: Combined Gross monthly income should be minimum BDT 40,000 per month and Spouse is allowed as Joint Applicant.
- 15% VAT applicable to all kind of charges and fees.