
Prime Bank Car Loan
An Amazing Package With Only One Guarantor Required.
Key Product Features
Interest Rate |
10.50% Special facilities for Professionals. Floating (Variable) Interest N/A |
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Min. financing Amount | BDT200000 |
Max. financing Amount | BDT4000000 Maximum 50% of the vehicle price but loan ceiling up to BDT 4000000. |
Min. loan tenure | 1 year |
Max. loan tenure | 5 year |
Islamic / Conventional | Conventional |
Approval duration | If all documents are okay, Prime Bank may take approximately 2 to 3 working days to be approved to get this loan. |
Fees and Charges
One time set-up | Penalties |
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Processing fee 1.25 % and Exclusive anniversary rate 0% processing fees. Sanction letter fee At actual. |
Early Settlement 2% on overdue amount. Late Payment Charges 2% Per Year On Overdue Amount.. |
Other Charges
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Eligibility
Age requirement
Age 22years - 65years
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 - 65years
Min Income requirement
BDT30000 gross per month
Employment Eligibility
- Salaried Employee
- Variable/Commission-based Employees
- Self Employed
- Land Owner
- Employees of Multinational Companies (MNCs) and Large Local Corporate (LLC), foreign NGOs, aid agencies, UN bodies.
- Contractual employees working as consultant/advisor/ researcher of UN organization/ADB/ World Bank/ International NGO’s/ other international organizations.
- Professionals.
- employees of Government/Semi Govt./ Autonomous bodies/ Banks/ Financial Institutions and medium/ small enterprises.
- Landlord/ Landlady.
- Businessmen.
Experience:
- For permanent and confirmed salaried person, minimum one (1) year experience with 6 months employment in present organization.
- For Businessmen, minimum one (1) year experience in the same line of business.
- For Landlord/Landlady having 6 months rental income continuation.
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.
Prime Bank Car Loan
Required Documents
Required Documents:
- Recent passport size color photographs of applicant (s) and guarantor (s).
- Photocopy of NID/passport/ driving license of applicant (s) and guarantor (s)
- Price quotation of car.
- Latest utility bill (gas/water/electricity/municipal tax).
- Business card/ office ID of applicant (s) and guarantor (s) if any.
- Latest tax certificate/ E-TIN.
- Personal net worth statements of applicant (s) and guarantor (s).
- Bank statement of last 12 months for businessmen and 6 months for others.
- Rent or lease agreement of house/ property (if applicable).
Additional documents required for Salaried Person /Self Employed :
- Salary Certificate/ Letter of Introduction.
- Offer letter/Release letter from previous employer to prove service experience.
- Professional certificate issued by concerned institution.
Additional documents required for Businessmen :
- Copy of trade license.
- Memorandum of Association and Articles of Association of the company.
- Certificate of Incorporation, Latest form xii, Partnership deed.
Additional documents required for Landlord/Landlady :
- Title deed of premises / property, Valid rental deed with tenants.
- Utility bill copy.
- Ground rent payment.
- Municipal tax payment receipt.
Additional Information
Minimum Monthly Income:
- BDT 30,000 (Taka Thirty Thousand) for salaried person of MNCs, LLC, Foreign NGOs, aid agencies and UN bodies.
- BDT 35,000.00 (Taka Thirty Five Thousand) for salaried person other than MNCs, LLC, Foreign NGOs and UN bodies.
- BDT 30,000 for Govt. employees.
- BDT 40,000 for Landlord / Landlady.
- BDT 45,000 for Businessmen.
Maximum Tenure:
- 6 years for brand new cars.
- 5 years for reconditioned cars.
Early Settlement Fee:
- 2% of the Settlement amount to be realized if applicants (s) adjust the loan before adjustment of 25% of disbursed loan (Principal) amount.
- 1.50 % of the Settlement amount to be realized after adjustment of 25 % of disbursed (Principal) loan amount.
- 1% of the Settlement amount to be realized after adjustment of 50 % of disbursed (Principal) loan amount.
- 0.50% of the settlement amount to be realized after adjustment of 75% of disbursed (principal) loan amount.
Loan re-scheduling fee:
- At actual.
Join Applicant Allowed:
- Spouse, father, mother, daughter, sister, son brother and in-laws.
Other Benefits:
- Flexible repayment schedule.
- Automatic realization of monthly installments.
- Shortest loan processing time
- Life insurance facility covering your payment obligations in the event of your death.
- Early, full and partial settlement allowed.
- Processing fee 1.25 % of the loan amount.
- Competitive interest rate.
- Joint applicant allowed.
- Minimal documentation.