A Dutch Bangla Bank Car Loan is a personal loan that you can use to buy your dream car. More specifically, a buyer’s personal car loan lender lends the borrower the cash needed to buy a car. This is a personal loan unsecured loan, the loan is made based on the creditworthiness of the borrower, and is not secured by any collateral. An agreement between the borrower and lender agrees to repay the loan amount and interest to the lender, which is usually paid in full in monthly installments.
What is DBBL Car Loan?
A car loan allows a customer to borrow money to purchase a vehicle. Car loans are usually easy-interest loans that are usually paid back with interest to the lender over three or five years.
Purpose of the DBBL car loan:
- Purchase of new and reconditioned cars for personal use only
- Refinancing of an own vehicle (not later than 1 year from the date of purchase of the vehicle).
Features of the Dutch Bangla Bank Car Loan
- Interest rate: 8.50%
- Loan amount: 40 lac
- Equated Monthly Installment (EMI) facility
- Early settlement facility
- Tenure: Up to 5 Years
- Refinance facility for registered car
- Easy monthly installment payment facility through DBBL’s Fast Track, ATM, and Mobile Banking.
Charges
Loan processing Fees for General Customers: DBBL Car Loan
- 0.50% for Loan Amount up to 50 Lac, Maximum. Tk15000
- 0.30 % for Loan Amounts above Tk. 50 Lac, Maximum Tk. 20000
Eligibility for the Dutch Bangla Bank Car Loan
- Customer Segments:
- Salaried Personnel, Self-employed Professional, Business Person, Landlord/ Landlady
- Age:
- Minimum 18 Years
- Max. 70 years or up to retirement age at the end of Loan Tenure.
- Experience:
- Salaried Individuals: 1-2 years
- Government, Semi-Government and Autonomous Bodies: 6 months
- Businessmen: 2 years
- Professionals: 6 months of service/ practice in the profession
- Income:
- For Salaried Individuals: BDT 25,000
- For Professionals BDT 40,000
- For Landlord/Landlady BDT 50,000
- For Business Individuals BDT 50,000
Required common documents for the applicant
Common Documents for all:
- Loan Application duly completed and signed by the applicant
- Passport size color photograph
- National ID/ Smart Card
- Bank Statement last six months
- Policy first-party comprehensive insurance
- Car price quotation
- Visiting Card
- Copy of utility bill
- e-TIN/ TIN certificate/ IT 88/ copy of Income Tax acknowledgment
- Personal Guarantee along with color photographs, NID, Visiting Card/Office ID/Business Card of the personal guarantor(s).
- Other documents or information as deemed necessary
For Salaried Individuals:
- Letter of Introduction (LOI) from employer regarding employment details/ Pay Slip/ Copy of Salary Certificate/ Copy of Increment/ Appointment letter etc. Or any other certificate issued by the employer.
- Office ID
For Businessperson:
- Valid Trade License copy, copy of Memorandum & Articles of Association, etc for Business person
For Landlord/Landlady:
- Rent or Lease Agreement of house/ property
- Any other documents/papers, if required as advised by the Bank’s legal advisor but not mentioned here.
Frequently Asked Questions (FAQs) on Dutch Bangla Bank Car Loan
Q: What is the purpose of the Dutch Bangla Bank Car Loan?
A: The Dutch Bangla Bank Car Loan can be used for various purposes such as purchasing a new or old house/flat, constructing/extending a house/apartment, renovating/altering existing house/flat, or taking over existing housing loans from other banks/financial institutions.
Q: What is the minimum loan tenure for the DBBL Car Loan?
A: The minimum loan tenure for the DBBL Car Loan is 12 months.
Q: What is the maximum loan tenure for the DBBL Car Loan?
A: The maximum loan tenure for the DBBL Car Loan is up to 5 years.
Q: Is registration required for a car loan?
A: Yes, car registration with BRTA is required before disbursement of the Car Loan.
Q: What is the interest rate for DBBL Car Loan?
A: The interest rate for DBBL Car Loan is 8.50%.
Q: What is the minimum income required to be eligible for a Car Loan?
A: The minimum income required varies:
- For Salaried Individuals: BDT 25,000
- For Professionals: BDT 40,000
- For Landlord/Landlady: BDT 50,000
- For Business Individuals: BDT 50,000
Q: What is the minimum loan amount for the DBBL Car Loan?
A: The minimum loan amount for the DBBL Car Loan is BDT 100,000.
Q: What is the maximum loan amount for the DBBL Car Loan?
A: The maximum loan amount for the DBBL Car Loan is BDT 40 lac or 50% of the car value, whichever is lower.
Q: What is the minimum age to apply for a Car Loan?
A: The minimum age to apply for a Car Loan is 18 years.
Q: What is the maximum age of the primary applicant for a Car Loan?
A: The maximum age of the primary applicant is 70 years or retirement age, whichever comes first, at the time of loan completion.
Q: What is the processing fee for the Car Loan?
A: The processing fee for the Car Loan is a maximum of 0.50% as per the schedule of charges of DBBL.
Q: What is the Early Settlement Charge for a Car Loan?
A: The Early Settlement Charge for a Car Loan is 0.50% of the settled amount.
Q: What is the charge for partial payment of a Car Loan?
A: The charge for partial payment of a Car Loan is 0.50% of the adjusted amount.
Q: How to apply for a DBBL Car Loan online?
A: To apply for a DBBL Car Loan online, visit the provided link on the bank’s website.
Q: What is the contact number of Dutch Bangla Bank?
A: You can contact Dutch Bangla Bank at their Head Office through (+8802) 47110465, 47115155, 47114795, or 16216.