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Products

MODHUMOTI VEHICLE LOAN

DO YOU DREAM TO HAVE YOUR OWN CAR
A car is no longer a luxury product rather it has become a necessity. To meet this growing demand Modhumoti Bank Limited has introduced Modhumoti Vehicle loan with easy repayment options. You can purchase brand new or recondition car for personal use with Modhumoti Vehicle loan.


Key Features

  • Loan amount ranging from Tk.300,000 to Tk.4,000,000
  • Car financing up to 50% of reconditioned or brand new car
  • No hidden charges
  • Competitive interest rate
  • Automatic realization of monthly installment
  • Early full and partial settlement allowed
  • Shortest Loan Processing Time
  • Loan Tenor -12 to 60 months
  • Processing Fee -1% of Loan Amount
  • 0.50% less than the usual rate for vehicles purchase from Enlisted Car Vendors

Eligibility

Age: 21 to 60 years

Length of Service/ Business/ Practice

  • Salaried Executives- Minimum 2 years of experience with 6 months permanent employment with current employer.
  • Professional- 1 year practice experience.
  • Businessman- Minimum 2 years of involvement in business.

Monthly Income

  • For salaried applicant Tk. 30,000/-
  • For businessmen and self-employed applicant Tk. 40,000/-

What documentation do I need to apply for Modhumoti Vehicle Loan?

  • National ID Card/Passport/Driving license.
  • Recent color photograph, business card and office ID card.
  • Copy of TIN related document
  • Letter of introduction (In case of salaried executives) as per given format or Pay Slip
  • Professional Certificate for Professionals.
  • Trade license/MOA for Businessmen
  • Bank Statement of last 12 months
  • One personal guarantee required
  • Valid Quotation of the car to be purchased.

Security
Hypothecation over the car.

To know more please contact any of our Branches
Or, Retail Banking Division
Modhumoti Bank Limited
Head Office
DCCI Building (3rd Floor), 65-66 Motijheel C/A, Dhaka-1000
Phone: +88 01787 662944 (10.00 am – 06.00 pm on working days)