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Auto Loan
LOAN FOR YOUR DREAM CAR...

MIDAS Financing Ltd. (MFL) introduces a new and affable auto loan window for the salaried and self-employed persons. The package offers absolutely hassle-free and prompt processing.
ELIGIBILITY
Service holder having minimum service tenure of 2 (two) years and EMI not more than 45% of take-home salary
Businessman having minimum 3 (three) years experience in the related business field
Self-employed/ professional/ business houses/ real-state owner who has fixed rental income
Age between 25-60 year (Individual)
Must be a Bangladeshi Citizen
Have valid source of income and a TIN holder
Leasable Items
Private Car
Micro Bus
Jeep
Lease Period
2-5 years
Mode of Repayment
Equal Monthly Installment (EMI)
Advance Rental
1 (One) installment
Terminal Value/Transfer Fee
0.5% to 0.25% of the Lease amount
CIB Fee
TK.500/-(Taka Five Hundred)
Security
Purchase and insurance of the lease vehicle in the name of MFL AND
Personal Guarantee of the Sponsors AND
Third Party Guarantee of 1 (One) responsible persons acceptable to MFL
Spouse Guarantee
Special Features of the Product
Relatively short processing time
Competitive pricing
Flexible repayment (advance or arrear basis)
Loan up to 70% - 80% of the vehicle value
Interest is calculated on monthly reducing balance method
Flexible repayment schedule of 36, 42, 48 or 60 months
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