Auto Loan



BRAC Bank Auto Loan

It is time to own a real car. Whether you want to purchase a brand new car or a reconditioned one, BRAC Bank Auto Loan is built for maximum speed and efficiency. Get your dream car on the road in no time.
Eligibility
  • Available for Salaried individuals, Business Persons, Self Employed & Landlord.
  • Age between 21 at the time of application to 65 at the time of maturity *
  • Minimum Monthly Income: BDT 25,000 (for salaried); BDT 35,000 (for others).
  • Length of service: Confirmed employment with total 1 year work experience.
  • Age of Business: Min 2 years
* Conditions Apply

Features

  • Up to 50% of quoted value of the car.
  • Maximum loan ceiling up to BDT 40 Lac*
  • Interest Rate: 14.50% for Salaried Individual & Doctors
  • 15% for Businessman, Self Employed & landlord

Tenor: 12 to 60 months.

For brand new and reconditioned cars

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

Schedule of Charges

Processing Fee: 1.5% of Loan Amount.
Early Settlement Fee: 2% (within 3 years), 1% (after 3 years and before expiry)

For any banking needs please call 24 Hour Call Center 16221 or e-mail us at enquiry@bracbank.com We will soon be in touch with you

No comments:

Post a Comment