Prime Bank Limited Car Loan

Table of Contents

Prime Bank Limited Car Loan that you can use to buy a car for yourself. More specifically, when a lender lends you cash to buy a vehicle, you agree to repay the lender the total loan amount plus interest. As with any other loan, you have to pay the loan amount with interest money full in monthly installments.

Prime Bank Limited Car Loan Features

Offer to purchase a new or reconditioned vehicle for personal use
Attractive variable interest rate for all
Competitive processing fees and loan origination fees
Flexible loan tenure (new car max 06 years and reconditioned car 05 years)
Personal minimum loan amount is BDT 500,000 and maximum loan amount is BDT 40 lakh or 50% of the vehicle value, whichever is lower
Loan repayment facility in equal monthly (EMI) installments
Joint ownership car loan facility subject to easy conditions.

Eligibility Criteria

Age: Minimum 25 years and maximum 65 years (Including loan tenure)

Personal Guarantor: One (01)

Eligible persons for the loan

Private employees
Self-employed
Businessman
Landlord

Required Documents to apply for Prime Bank Car Loan

Here is the documents list you need to submit when applying for a car loan from Prime Bank:

Common Documents list:

Passport size color recent photographs of applicant and guarantor(s)
NID/passport copy of applicant and guarantor (s)
Latest utility bill copy (gas/water/electricity/municipal tax)
Price quotation of purchasing car issued by Car Vendor/Showroom
Business card/copy of office ID of applicant and guarantor(s)
Latest tax clearance certificate/E-TIN copy
Last 12 months bank statement for businessmen (06 months for others).

For Salaried Person/Self Employed:

Original Salary Certificate/Letter of Introduction (LOI)
Copy of Payslip
Employer Offer letter or previous employer release letter to prove the service experience
Professional certificate issued by the concerned authority.

For Businessmen:

Copy of current trade license
Copy of MOA, AOA, Certification of Incorporation, Latest Form XII & X (Limited Company)
Copy of Registered Partnership Deed (Partnership Firm).

For Landlord:

Copy of property’s latest mutations and title deed
Copy of valid rental deed with tenants
Utility bill copy
Latest ground rent receipts and municipal tax receipts copies.

Prime Bank is offering you to materialize your dream of owning a car. Whether you want to purchase a brand new car or a reconditioned one, we care your requirement!

FAQs: Prime Bank Car Loan

Q1: Can I apply for the loan?
A: Yes, you can apply online for a car loan from Prime Bank’s website. Simply visit www.primebank.com.bd, navigate to the ‘Loan Products’ section under ‘Consumer Banking,’ select ‘Car Loan,’ and click on ‘Apply Now.’ Fill in the required details, including your name, email ID, mobile number, monthly income, nearest branch, and verification code, then click ‘Submit.’ A Prime Bank representative will contact you to proceed with your application.

Q2: Where can I get the Prime Bank Car Loan application form?
A: You can download the application form from Prime Bank’s official website in the ‘Downloads’ section. Alternatively, you can visit any of the nearest branch offices of the bank to collect the application form in person.

Q3: How can I track the status of my application?
A: You can check the status of your car loan application either by contacting the Prime Bank branch where you applied or by reaching out to the bank’s customer care representatives. If you applied through a third party, you can inquire with them about the status. Additionally, you will receive regular email and SMS updates on the status of your loan application using the email ID and phone number you provided during the application process.

Q4: How can I contact customer care for more details on Prime Bank car loans?
A: Customers can reach out to Prime Bank’s customer care help desk by calling 16218, which operates 24 hours a day. Alternatively, you can make product inquiries and lodge complaints online through the Prime Bank website.

Q5: Can I avail of a loan for a used vehicle?
A: Yes, Prime Bank offers loans for both new and used vehicles, providing flexible financing options to suit your needs.