Prime Car Loan

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.

More Prime Bank Credit Offers

• Prime Household Durable Loan
• Prime Swapna Neer Home Loan
• Prime Swapnashaj Home Loan

About Prime Bank PLC

Prime Bank PLC is a leading private commercial bank in Bangladesh, offering a wide range of financial services to individuals, businesses, and institutions. Established in 1995, the bank provides services in retail banking, corporate banking, SME financing, Islamic banking, and digital banking. It has introduced innovative platforms like "MyPrime" for digital account management and "PrimeAgrim," an AI-based solution for salary advances. Prime Bank is also known for its strong presence in trade finance, with the country's first 24x5 trade shop for real-time service. In addition, it supports financial inclusion through agri-finance partnerships and agent banking, while also serving Non-Resident Bangladeshis with efficient remittance solutions.