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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

Prime Bank PLC, one of the leading private sector banks in Bangladesh, was established in 1995 with the vision of becoming a prominent and customer-centric financial institution. It started its journey as a private limited company and later converted into a public limited company. Since its inception, Prime Bank has been committed to providing a wide range of banking services to its customers, contributing significantly to the economic development of the country. Over the years, the bank has grown substantially, establishing a strong presence in both urban and rural areas. As of now, Prime Bank has a vast network of branches and ATMs across the country, serving millions of customers.

The bank's history is marked by a series of progressive steps to modernize its services. Initially, Prime Bank focused on traditional banking, offering savings and current accounts, as well as loans and advances. However, as the banking sector evolved, so did Prime Bank, embracing technological innovations like online banking, mobile banking, and digital payment systems. The bank has continuously updated its infrastructure, ensuring that it stays ahead in a competitive industry. Today, Prime Bank is known for its robust financial solutions and commitment to quality customer service.

Prime Bank offers a broad spectrum of banking services, catering to both individuals and businesses. For individual customers, the bank provides traditional savings and current accounts, fixed deposits, and various types of loans, including personal loans, home loans, and car loans. It also offers credit card facilities, enabling easy access to financial services for customers with varied needs. For businesses, Prime Bank provides a range of services such as trade finance, working capital finance, and SME (Small and Medium Enterprise) financing. The bank plays a crucial role in facilitating domestic and international trade by offering services like letter of credit (LC), foreign exchange, and remittance services.

In addition to these services, Prime Bank has made significant strides in enhancing its corporate social responsibility (CSR) initiatives. The bank is actively involved in supporting education, healthcare, and community development projects. It has also been focused on sustainable banking practices, aligning with global standards for environmental and social governance (ESG).

Throughout its history, Prime Bank has received numerous accolades for its performance and contributions to the banking sector. Its commitment to excellence and customer satisfaction has made it one of the most trusted banks in Bangladesh. With a strong financial foundation, a customer-oriented approach, and a constant focus on innovation, Prime Bank continues to play a pivotal role in the growth of Bangladesh's banking industry.