When people buy a car, they think a lot and then buy a car. Many people are hesitant to take a car loan from a bank. Because there are many, who do not have a complete idea about the method of bank loan. Many people want to buy a car but can’t buy it for money and many people don’t know or understand the rules and regulations despite having money. But with a little eye-opener, if you can afford it, then buying a car is much easier now than before. Now they give loans to different banks on different terms.
The process of getting a car loan has also become much easier now. If you can fulfill some of the rules and conditions of the bank, you can easily get a car loan. Buying a car is not as complicated as it used to be. Anyone can buy a car with a loan from a bank, at a specific time and by paying a certain amount of money. Let’s find out what kind of loan a bank gives.
City Bank
Minimum monthly income of the borrower – Tk. 30,000.
Loan amount – The bank pays 50% of the total value of the car.
Maximum loan – 3 to 40 lakh loans.
Processing fee – 1 percent.
VAT – 15 percent.
Partial fee – 1 percent (which is added in the next month if you can’t pay the installment in any month).
Interest Rate – 10.5 percent.
Required documents–
3 copies of photo, national identity card, tin certificate, office ID card, visiting card, 6 months bank statement, photocopy of electricity bill.
Payment time – 1 to 5 years.
Guarantor – A guarantor (must provide his photo, national identity card, address).
Eastern Bank
Monthly income of the borrower – Tk. 30,000. (For doctors, lawyers, chartered accounts, and joint applicants there should be a monthly income of Tk 40,000).
Age – 22 to 60 years.
Job/business experience – 2 years.
Total loan amount – 50 percent of the total value of the car loan.
Processing fee – Tk. 1000
Partial fee – 2% (which is added in the next month if you can’t pay the installment in any month).
Maximum loan – 3 lakh 50 thousand to 4 lakh loans.
Required Paper–
3 copies of photo, office ID card, visiting card, TIN certificate, 6-month bank certificate, TIN certificate.
Payment time – 1 to 5 years.
Guarantor – not required.
Standard Chartered Bank
Monthly income of the borrower – Tk. 40,000.
Age – 23 to 65 years.
Job/business experience – 6 months.
Loan amount – 50 percent of the total value of the car loan.
Maximum loan – with a loan of up to 4 million.
Partial fee – 2% (which is added in the next month if you can’t pay the installment in any month).
Interest rate – 11%.
No processing fee.
Required documents–
4 copies of photo, passport, office ID card, visiting card, TIN certificate, 6 months bank certificate, TIN certificate.
Payment time – 1 to 5 years.
Guarantor – No need.
BRAC Bank
Monthly income of the borrower – Tk. 50,000.
Age – 21 to 65 years.
Job/business experience – 1 year.
Total loan amount – 50 percent of the total value of the car loan.
Minimum and maximum loans – 3 to 40 lakh loans.
Partial Fee – 2% (which is added in the next month if you can’t pay the installment in any month).
Interest Rate – 10.25%.
No processing fee.
Required documents–
4 copies of photo, play slip, cash voucher, office ID card, visiting card, tin certificate, 6-month bank certificate.
Payment time – 1 to 5 years.
The monthly income of the borrower -Tk. 30,000.
Age – 25 to 55 years.
Job/business experience – 3 years.
Total percentage – 80 percent of the total value of the car loan.
Minimum loan – 3 to 15 million with a loan.
Partial fee – 2%.
Interest rate – 10.25%.
Processing Fee – Not required.
Required documents –
2 copies of photograph, play slip, cash voucher, passport, office ID card, visiting card, TIN certificate, 1-year bank statement, TIN certificate, 1-year salary certificate.
Payment time – 1 to 5 years.
Guarantor – Two guarantors (their photo, national identity card, address must be given).
One Bank
Monthly income of the borrower – Tk. 40,000.
Age – 21 to 70 years.
Employment/Business Experience – 1 year. (Professional or businessman must have at least 2 years experience).
Minimum loan – 2 to 40 lakh loans.
Interest Rate – 11.50%.
Required documents –
copy photo, office ID card, visiting card, TIN certificate, 6-month bank certificate, TIN certificate.
Payment time – 1 to 5 years.
Trust Bank
Profession – Employee, businessman, professional.
Age – 21 to 60 years.
Minimum loan – 2 to 40 lakh loans.
Interest Rate – 12.50%.
Payment time – 1 to 5 years.
Necessary documents –
3 copies of photo, office ID card, visiting card, TIN certificate, 6 months bank certificate, TIN certificate.
Other – The car must be insured.
Remember, the car will be registered jointly with the lender and in your name. The car will be fully registered in your name when you repay the entire loan. After buying a car with a car loan, it is also a responsibility to take care of it. Because if you have proper maintenance of your car then the lending bank will also trust you. And for proper maintenance of the vehicle, there is always Prohori vehicle tracking service next to you and next to the vehicle.
