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Whether you want to purchase a brand new or a reconditioned car, Prime Bank Limited cares your demand, as they offer car loan to materialize your dream of owning a car. Get and drive your dream car on the road through the wonderful car loan facilities. This minimal documentation required loan skim is suitable for all kinds of local people involved in service or business.

Features

• 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.

Purpose

• Purchase of brand new or reconditioned vehicle/ auto for personal use only.

Customer Segment

• 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 NGOs/ other international organizations.
• Professionals, employees of Government/ Semi Government/ Autonomous bodies/ Banks/ Financial Institutions and medium/ small enterprises.
• Landlords/ Landladies.
• Businessmen.

Customer Eligibility

• For permanent and confirmed salaried person, minimum one year experience with 6 months employment in present organization.
• For Businessmen, minimum one year experience in the same line of business.
• Landlord/ Landlady having 6 months rental income continuation.

Age Limit

• Minimum: 22 Years, at the time of application.
• Maximum: 65 years, at the end of loan tenor.

Minimum Gross Salary/ Income

• BDT 30,000.00 for salaried person of MNCs, LLC, Foreign NGOs, aid agencies and UN bodies.
• BDT 35,000.00 for salaried person other than MNCs, LLC, Foreign NGOs and UN bodies.
• BDT 30,000.00 for Govt. employees.
• BDT 40,000.00 for Landlords/ Landladies.
• BDT 45,000.00 for Businessmen.

Joint Applicant

• Spouse, father, mother, daughter, sister, son, brother and in-laws.

Loan Amount

• Maximum BDT 40,00,000.00

Loan Tenor

• Maximum loan tenor is 6 years for brand new cars.
• Maximum loan tenor is 5 years for reconditioned cars.

Loan to Price Ratio

• Maximum 50% of the vehicle price but loan ceiling up to BDT 40,00,000.00.

Security Collaterals

• One personal guarantee.
• Joint registration of the vehicle.
• First party comprehensive insurance of the car.

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 Landlords/ Landladies

• Title deed of premises/ property.
• Valid rental deed with tenants.
• Utility bill copy.
• Ground rent payment and municipal tax payment receipt.

* Condition Apply
Prime Bank may request for any other relevant documents, if necessary.

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About Prime Bank PLC

As a fully licensed commercial bank, Prime Bank PLC is being managed by a highly professional and dedicated team with long experience in banking. They constantly focus on understanding and anticipating customer needs. As the banking scenario undergoes changes so is the bank and it repositions itself in the changed market condition.
Prime Bank has already made significant progress within a very short period of its existence. The bank has been graded as a top class bank in the country through internationally accepted CAMELS rating. The bank has already occupied an enviable position among its competitors after achieving success in all areas of business operation. It offers all kinds of Commercial Corporate and Personal Banking services covering all segments of society within the framework of Banking Company Act and rules and regulations laid down by our central bank.