MDB Car Loan
The MDB Car Loan, designed to provide you with the freedom to own your own vehicle. Whether you’re eyeing a brand-new model, a reliable reconditioned car, or even a quality used vehicle for private use, our car loan has you covered.
Key Features of MDB Car Loan
1. Versatile Financing:
- Loan amount ranging from BDT 200,000 to BDT 4,000,000.
- Repayment tenure flexibility: 12 to 60 months.
- Competitive interest rates to suit your budget.
- Early full settlement and partial settlement options available.
- No hidden charges to keep your finances transparent.
- Quick loan processing for your convenience.
MDB Car Loan Eligibility Criteria
1. Experience Requirements:
- Government Employee:
- Confirmed employee with 3 months’ salary credited.
- Multinational Companies Employee:
- Confirmed employee with at least 1 year of experience and 3 months’ salary credited.
- Other Salaried Individuals:
- Confirmed employee with 2 years of work experience, including 3 months at the current employer.
- Self-Employed:
- Minimum 2 years of experience.
- Businessperson:
- Minimum 2 years of business experience.
- Contractual Employees:
- Minimum service length of 3 years. Provide the last two contract renewal documents.
- Landlord/Landlady:
- No specific experience required.
2. Age Criteria:
- Minimum age: 21 years.
- Maximum age:
- Salaried: 65 years or retirement date (whichever is lower) at the end of the loan tenure.
- Self-Employed Professional/Businessman/Landlord: 65 years at the end of the loan tenure.
3. Minimum Gross Monthly Income:
- Government Employees: Minimum BDT 25,000 per month.
- Other Salaried Individuals: Minimum BDT 30,000 per month.
- Professionals/Businesspersons/Landlords: Minimum BDT 30,000 per month.
4. Joint Application:
- Joint applications are allowed, enabling you to share the driving experience with a partner.
Read: MDB Amar Bari Loan
Read: MDB Home Loan
MDB Car Loan is here to turn your car ownership dreams into reality. Apply today and experience the joy of hitting the road in your very own vehicle!
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| Field | Details |
|---|---|
| Tenure | Maximum 6 (six) years |
| Purpose | For purchasing new, reconditioned car and used car |
| Benefit | Quick loan processing |
| Taxes, Duty, Surcharges | As per NBR circular |
| Highest Amount | Bank will finance a maximum of 50% of the car quotation price or BDT 40 lac, whichever is lower |
Frequently Asked Questions (FAQs) about MDB Car Loan
Q1: What types of cars can I purchase with MDB Car Loan?
A1: MDB Car Loan covers the purchase of brand new, reconditioned, or used cars for private use.
Q2: What is the range of loan amounts offered?
A2: You can avail a loan amount ranging from BDT 200,000 to BDT 4,000,000.
Q3: What is the repayment tenure for the car loan?
A3: The repayment tenure ranges from 12 months to 60 months, providing flexibility to suit your financial preferences.
Q4: Are there any hidden charges associated with MDB Car Loan?
A4: No, there are no hidden charges. We believe in transparent financing to ensure you have a clear understanding of your financial commitment.
Q5: Can I settle the loan early or make partial payments?
A5: Yes, early full settlement and partial settlement options are available, providing you with flexibility in managing your loan.
Q6: How quickly is the car loan processed?
A6: Our car loan processing is quick, ensuring a hassle-free experience for our customers.
Q7: What are the eligibility criteria for government employees?
A7: Government employees need to be confirmed employees with at least 3 months’ salary credited to their account.
Q8: Is there an age limit for applying for the car loan?
A8: The minimum age for application is 21 years, and the maximum age varies based on employment status, ranging up to 65 years at the end of the loan tenure.
Q9: Can joint applications be submitted for the car loan?
A9: Yes, joint applications are allowed, providing the opportunity to share the car ownership experience with a partner.
Q10: What is the minimum gross monthly income required for professionals/businesspersons?
A10: Professionals, businesspersons, and landlords need a minimum gross monthly income of BDT 30,000.