Auto Loan

 

A. Private Auto Loan-Set your dreams to motion

 

Is your dream car still a dream?
Owning a vehicle is not a matter of status but it is one of the most essential components of busy life. It is hard to imagine urban life without vehicles. To have own vehicle may be difficult for most of us but it is not impossible. To convert this difficulty into possibility, Prime Commercial Bank Ltd. has launched PRIME VEHICLE SCHEME for all needy people. You will feel more comfortable to make a decision to ride when you come to us. Your journey to a new height of success and luxury is ensured with our personalized services.
 
Prime Auto Loan- Get started
One of the best products among other diversified banking product is Auto Loan. Like other products, this is also another easy finance scheme to purchase new vehicle as well as second hand vehicle not older than 5 years from the date of manufacture of the vehicle. It is very easy and quicker finance scheme launched by our bank.
• Low competitive rate
• Financing up to 80% of Buying Cost.
• Up to 7 years of financing
• Instant decision by Bank – You know immediately the maximum amount you can borrow
• Processing fee just only 1% of financed amount
 
Eligibility – Who can Apply?
• Employee /Salaried Persons
• Entrepreneurs
• Fixed Income Group( Having rental/pensions/property etc)
 
Charges
• Processing Fee/ Prepayment Charges: 1% of loan amount
• Interest Rate:              Prime :  9.00% p.a.
                          Other : 11.00% p.a.
 
Documents Required:
• Identification document like Citizenship, Passport
• Photographs
• Documents certifying current salary (for employee)
• Quotation from authorized vehicle dealer
• Certified Income Statement
• Paper of Agreements/contracts (for Fixed Income Groups)
• Audited Financial Statements for past two years (for Business Income)
 
Repayment
Repayment of loan should always be on EMI basis. The loan amount plus outstanding interest will have to be paid each month. In case of second hand vehicle the loan with interest should be repaid within the residual economic life of the vehicle.
 
 
B. Commercial Auto Loan-Earn Your Living
• Low competitive rate
• Financing up to 70% of Buying Cost.
• Up to 5 years of financing
• Instant decision by Bank – You know immediately the maximum amount you can borrow
• Processing fee just only 1% of financed amount
 
Charges:
• Processing Fee/ Prepayment Charges: 1% of loan amount
• Interest Rate: 10.00%-11.00% P.A.
 
Documents Required
• Identification document like Citizenship, Passport
• Photographs
• Documents certifying current Income
• Certified Income Statement
• Paper of Agreements/contracts (for Fixed Income Groups)
• Audited Financial Statements for past two years (for Business Income)
 
Repayment:
Repayment of loan should always be on EMI basis. The loan amount plus outstanding interest will have to be paid each month. In case of second hand vehicle the loan with interest should be repaid within the residual economic life of the vehicle.