This product will allow car financing to the customer segment. Under this scheme, the vehicle is hypothecated to the bank only. In addition to this registration requirement, on a case-to-case basis, bank may also secure the loan partially by the commonly acceptable form of cash/quasi cash securities available in the market.
Any Bangladeshi individual who has the means and capacity to repay bank loan; In specific terms, these could be salaried executives of multinational and middle to large size local corporate, Government officials, Officials working in reputed NGOs (Non Government Organizations), international aid agencies & UN bodies, any tax paying businessmen of repute, any employed / self-employed tax-paying individual having a reliable source of income.
- Loan amount Maximum BDT 20,00,000.00 for both Recondition & Brand new car
- Repayment tenure Maximum 5 years for reconditioned car & 6 years for Brand new car
- Payment method- Equal Monthly Installments
- Competitive interest rate
- No early settlement & partial adjustment fees
- No hidden cost
- Age limit: Minimum 25 years, Maximum 65 years at loan maturity
- Monthly surplus income (after meeting all expenses) shall be at least BDT 15,000.00
- For salaried individual, minimum service length of 3 years and must be a confirmed employee. For self employed individual, a business record of minimum 3 years
Bank Asia commenced operation on November 27, 1999 by a group of successful entrepreneurs of Bangladesh with the basic objective of bringing high quality service in the banking sector and actively participating in the growth and expansion of the national economy.
Bank Asia is the only Bank in Bangladesh to acquire the Bangladesh operation of two foreign banks namely Muslim Commercial Bank of Pakistan and Bank of Nova Scotia of Canada. Our purpose has always been to foster industrial, commercial and financial ties between Bangladesh and foreign countries by trade initiatives and business ventures.
Thanks to its unremitting efforts and long years of experience, Bank Asia today proudly stands among the top rated banks of Bangladesh with an extensive network of business outlets comprising of conventional banking branches, islamic windows, offshore banking unit, brokerage branches, agricultural branches and SME centers. And as part of the bank's commitment to provide all modern and value added banking services in keeping with the very best standard in a globalized world.
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