Prime Bank Car Loan

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
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
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
  • CIB Charge: BDT 200 for each individual + BDT 20 for each firm / company under ownership of the same individual.
  • Loan Application Form: BDT 400.
  • VAT: 15% VAT is applicable on fees and commissions as per Govt. circular no SRO 117-LAW/2002/342-VAT dated June 06, 2002.).


Age requirement
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.


  • 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
Allows joint applicant?
Car Insurance
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.

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.