Car loan in Bangladesh 2023

Car loan in Bangladesh 2023

Car loans are available in Bangladesh from various banks and financial institutions. These loans can help you finance the purchase of a new or used car. Here are some of the things you need to know about car loans in Bangladesh:

Eligibility criteria: The eligibility criteria for car loans vary from bank to bank. However, most banks require you to be at least 21 years old and have a regular source of income.

Loan amount: The loan amount for car loans in Bangladesh can range from a few lakh taka to several crore takas, depending on the bank and your eligibility.

Interest rate: The interest rate for car loans in Bangladesh can range from 8% to 12%, depending on the bank and the loan amount.

Loan tenure: The loan tenure for car loans in Bangladesh can range from 1 year to 7 years, depending on the bank and the loan amount.

Down payment: Most banks in Bangladesh require you to make a down payment of at least 20% of the car's value.

Documents required: The documents required for car loans in Bangladesh typically include your identity proof, address proof, income proof, and details of the car you intend to purchase.

Some of the banks in Bangladesh that offer car loans include BRAC Bank, City Bank, Eastern Bank, Dutch-Bangla Bank, and Standard Chartered Bank. It's advisable to compare the interest rates, loan amount, and other terms and conditions before applying for a car loan.