motorcycle loan

There are bank loans for hobby motorcycles

Where there is business, banks have appeared with services. This is how banks do business all over the world. Bangladesh has also progressed a lot in this field. For example, banks have been providing loans for buying cars for a long time, but they were not very interested in motorcycle loans. Private sector banks have gradually introduced motorcycle loans due to the need of time. Customers are also getting this loan easily. Maximum loan size is 5 lakh taka. And the average loan amount of customers is 1 lakh taka.

Not everyone has their own money to buy a motorcycle, and family does not support everyone. Motorcycle or bike loan has brought great opportunities for them.

motorcycle financing

It is known that currently the private sector The City, Prime and BRAC banks are giving motorcycle loans. Apart from this, Eastern, Uttara Bank also introduced new service products to provide motorcycle loans. Interest rates on motorcycle loans are also high as the loan size is small. Interest rates vary from 9 to 11 percent depending on the bank. And the loan can be repaid up to 3 years. Banks have given loans of about 50 crore rupees. Banks lend up to 80 percent of the cost of a motorcycle.

In addition to this, banks are now directly contracting with various brands. For example, Citibank Amex credit card customers who buy Suzuki brand motorcycles are getting the opportunity to pay in 34 months. Again, BRAC Bank is lending to buy Yamaha brand motorcycles. ACI and BRAC Bank have signed an agreement for this.

A customer's loan application requires photocopy of National Identity Card, e-TIN and photocopy of business card or office ID. Apart from this, salary or income certificate, service bill copy, bike price quotation, bank statement and any bank security check have to be submitted. If you are a businessman, you have to submit the trade license and rent documents of the owner of the house or flat.