Shari’ah Features:

• Riba (interest) free investment facility.
• Bank and the customer jointly purchase a vehicle.
• Bank rent out its portion in the vehicle to the customer against a series of rental payment.
• Customer purchases Bank’s portion of ownership in the vehicle making payment in monthly/ quarterly installments.
• Option for reimbursement of ownership tax under mutual agreement.​

General Features:

• Investment facility is available for purchasing brand new, reconditioned or registered vehicle.
• Finance amount ranges from BDT 3 Lac to BDT 40 Lac
• Up to 50% of the value of the vehicle is invested by the bank.
• Vehicle age should not be more than 5 years (excluding manufacturing year).
• Maximum investment facility is 6 years for brand new vehicles.
• Maximum investment tenure is 5 years in case of reconditioned and registered vehicles.
• Takeover facility from any other bank/financial institution.
• No processing fee is charged.
• Free from any compounding calculation.
• No fee for early settlement.

Eligibility:

• Age of the applicant: 21 to 65 years.
• Minimum Experience: 1 (one) year for salaried person/professional and 2 (two) years for business person.
• Minimum Monthly Income: BDT 40,000 for salaried person/self-employed/professional and BDT 50,000 for business person/land lord/other individuals.