Before applying for a loan, it is important to check whether you qualify for it or not. The eligibility criteria for any loan depend on certain basic parameters that you must fulfill and these parameters differ based on the type of loan you are applying for. There is a specific list of loan eligibility for some basic types of loans. Loan eligibility depends on the lender as well as the loan, generally, it is calculated on fundamentals like interest rate, location of the borrower, tenure of loan, nature of employment, gross monthly salary, other debt obligations, and market value.
Eligibility for Motorcycle Loans
Your eligibility amount would however be also dependent on the following key factors:
- Age
- Work experience – total and with the current employer
- For self-employed individuals, the duration of the business
- Earnings
- Make & model of the motorcycle.
City Bank Limited City Bike Loan Eligibility
Minimum Monthly Income:
- Salaried Person (Account Payee): BDT 15,000
- Business Person, Professional, Landlord/Landlady: BDT 25,000
- Freelancer- BDT 30,000
- Foreign Remittance Earner- BDT 20,000
Minimum Experience:
- Salaried Person: 1 year
- Business Person, Freelancer, or Professional: 1 year
- Foreign Remittance Earner: 6 Months
Eastern Bank Limited (EBL) Motorcycle Loan Eligibility
Salaried Executives:
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Experience: Minimum 1 year of continuous experience (6 months with a present employer)
- Income: Minimum BDT 20000, Minimum 15000 for Govt Salaried (Cash or Bank payee)
Professionals:
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Experience: Minimum 1 year of practice experience (as per license)
- Income: Minimum BDT 25000
Businessman:
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Experience: Minimum 2 years of business experience (as per trade license)
- Income: Minimum BDT 25000
Land Lord/Lady:
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Income: Minimum BDT 25000
Contractual employee:
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Experience: Minimum 2 years of continuous experience
- Income: Minimum BDT 25000 (cash or bank payee)
Freelancer
- Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
- Experience: Minimum 2 years of continuous work experience as per Govt. approved ID card
- Income: Minimum BDT 20000 (Average of last 6 months bank reflection)
Uttara Bank Motorcycle Loan Eligibility
- Minimum age 25 years (At the time of application)
- Maximum age at loan maturity up to 60 years (At the end of Loan Tenor)
- For a salaried individual, must be Permanent & Confirmed employees of a relevant firm with minimum 3 years of experience in the present organization
- For Businessmen, a Business Record of minimum 2 years
- Yearly income should be At least three times the total yearly installments amount of the applied loan.
- A borrower must reside for at least 6 months in the same address.
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