1. What is the minimum and maximum Auto Loan amount?
The minimum Auto Loan amount is BDT 5 lakh.
The maximum loan amount is:
2. What percentage of the vehicle price can be financed through the Auto Loan?
The loan can finance up to:
*The applicable maximum loan amount is BDT 80 lakh for hybrid, electric, and domestically manufactured vehicles and BDT 60 lakh for non-hybrid vehicles. The minimum loan amount is BDT 5 lakh.
3. What is the maximum repayment tenure for the Auto Loan?
The Auto Loan can be repaid over a maximum tenure of 72 months.
4. What are the age requirements for an Auto Loan applicant?
The primary applicant must be at least 25 years old, while a co-applicant must be at least 20 years old. The applicant’s age must not exceed 65 years at the time of loan maturity.
5. Who can apply for a BRAC Bank Auto Loan?
The following individuals are eligible to apply, subject to the Bank’s eligibility criteria:
6. What is the minimum monthly income required for an Auto Loan?
The minimum monthly income requirement is:
7. Is a co-applicant mandatory for an Auto Loan?
No. Having a co-applicant is not mandatory. If a co-applicant is included, they may be the applicant’s spouse, parent, or child. The co-applicant’s income may be considered if it meets the minimum monthly income requirement of BDT 15,000.
8. What is the interest rate for the BRAC Bank Auto Loan?
The applicable Auto Loan interest rate is published on the BRAC Bank website and may change from time to time.
9. Does the Auto Loan interest rate remain fixed throughout the loan tenure?
No. The Auto Loan interest rate is variable and is subject to change in accordance with prevailing market conditions and applicable Bangladesh Bank directives.
