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Drive home happy with Jamuna Bank’s Auto Loan. Our exciting Auto Loan offers is available for financing both new and reconditioned cars with lucrative features and options.

Features

Purpose: To purchase brand new/reconditioned car for personal use.
Loan Size: Minimum Tk. 5 Lac and Maximum Tk. 40 Lac.
Loan Tenor: Maximum 5 years.
Loan to Price Ratio: Maximum 50% of the car value.

Eligibility

Age: Minimum age 21 years, Maximum age 60 years

Minimum Monthly Net Income

Salaried Person -Tk.40,000/-per month
Landlord -Tk.50,000/-per month
Professional -Tk.60,000/-per month
Businessman – Tk.80,000/-per month

Length of Experience:

Salaried Person: Regular/Permanent employee having minimum 1 year of total experience and minimum 6 months with the present employer.

Professional/Self employed person: Minimum 2 years of practice in the respective profession.

Businessmen: Minimum 2 years of business establishment and having valid Trade license.

Land Lord/ House Owners: Minimum 1 year in house renting and taxpayer.

Required Documents

National ID Card

Passport Size Photographs

Bank Account Statements (Minimum 06 Months).

Income and Professional Proof-

– For Service holder-Letter of introduction from employer/Salary Certificate/Pay Slip / Employment ID Card .

– For Professional-Copy of professional certificate .

– Landlord-Copy of Rental Agreement/Rent Receipts/Title/ownership documents of rented property.

– Businessman-Trade License .

– Others Income-Proof of income .

Personal Guarantee .

ETIN Certificate with Up to date Tax return submission receipt (if applicable) .

Copy of a utility bill of contact address /permanent address .

Supplier’s/ Seller’s quotation of the Car .

FAQ’s

1. What is the purpose of Auto Loan?

To purchase brand new/reconditioned car for personal use.

2. What is the minimum and maximum loan size of Auto Loan?

Minimum BDT 5 Lac to maximum BDT 40 Lac.

3. What is the Loan tenor of Auto Loan?

Maximum 5 years.

4. What is the ratio of loan to price?

Maximum 50% of the car value

5. What is the minimum and maximum age of the applicant to apply for Auto Loan?

Minimum 21 years and maximum 60 years.

6. Who can avail Auto Loan ?

• Salaried Individuals
• Professionals (Doctor, Engineer, Architect, FCA, CA etc)
• Landlord/Landlady
• Businessperson

7. What is the minimum monthly income of the applicant to avail the Auto Loan?

• Salaried person: Tk.40,000 per month
• Landlord: Tk.50,000 per month
• Professional: Tk.60,000 per month
• Businessman: Tk.80,000 per month

8. What is the minimum length of experience of the applicant?

• Salaried Person: Regular/ permanent employee having minimum 1 year of total experience and minimum 6 months with the present employer.
• Professional/Self employed person: Minimum 2 years of practice in the respective profession.
• Businessmen: Minimum 2 years of business establishment and having valid Trade license.
• Landlord/Landlady/House Owners: Minimum 1 year in house renting and taxpayer.

9. What are the required documents to avail the Auto Loan?

• National ID card/ Smart ID/Birth Certificate/ Passport
• Passport Size Colored Photographs
• Bank account statements (minimum 06 months)
• Income and Professional Proof-

– For service holder- letter of introduction from employer/salary certificate/pay slip/employment id card.
– For Professional- Copy of professional certificate.
– Landlord: Copy of rental agreement/rent receipt/title/Ownership documents of rented property.
– Businessmen: Trade License.
– Other income: Proof of income.

• Personal Guarantee
• ETIN Certificate with up to date Tax return submission receipt (if applicable)
• Copy of a utility bill of contact address/permanent address.
• Supplier’s/ Seller’s Quotation.

10. Does a customer need collateral for an Auto Loan?

No collateral is required. As auto loan is a secured loan, the car that the customer wants to buy will act as collateral.

11. Can the customer sell their car before the repayment of the Auto Loan is completed?

No.

12. What is the security of the Auto Loan?

– Registration of the vehicle in the name of the bank.
– 1st Party Comprehensive Insurance Policy coverage of the value of the vehicle favoring the bank from a reputed Insurance Company.
– Post dated Security cheques.
– Personal guarantee of the customer and his/her spouse (if any)
– Guarantee of a Person/Company/Institution acceptable to the Bank.

13. What will be the disbursement process of the Auto Loan?

Bank will issue a Payment Order directly to the supplier/seller upon receipt of registration and first party comprehensive insurance in the name of the Bank.

14. How to repay Auto Loan?

Through Equated Monthly Installment (EMI). EMI amount can be deposited through debiting applicant’s Savings/Current A/C or cheque or RTGS/BEFTN or JBPLC’s Mobile App/Wallet.

15. Can partial payment/early settlement is made anytime in Auto Loan?

Yes. Partial payment/ early settlement can be made anytime. *Conditions Apply

16. What is the Interest Rate of Auto Loan?

As prescribed by the bank as per Bangladesh Bank’s Circular issued from time to time

17. What is the Fee & Charges of Auto Loan?

As per prevailing schedule of charges of the bank.