EBL Auto Loan
An attractive package with lowest interest rate.
Key Product Features
Lowest interest rate is provided by EBL at this moment.
|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|
1% on approved loan amount.
Sanction letter fee
2% and Partial payment fee: 2%, Not before 6 months and atleast 30% of the outstanding amount.
Late Payment Charges
3% on overdue amount.
Age 22years - 60years
Min Income requirement
BDT30000 gross per month
- Salaried Employee
- Self Employed
- Land Owner
- #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.
Allows joint applicant?
1st Class Insurance Required.
- 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
- 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.
- 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.