MTB Yaqeen
Deposit

MTB Islamic Auto Finance operates under the Shariah-compliant ‘Hire Purchase under Shirkatul Melk’ agreement. Under this structure, the customer and the bank jointly purchase a vehicle. The customer then uses the bank’s share by paying monthly rent, while also gradually buying out the bank’s ownership. Over time, through regular monthly payments, the customer becomes the sole owner of the property.

Features:

  • MTB Auto Finance is available for financing brand new, reconditioned (unregistered), and registered (locally used) cars
  • No hidden charges
  • Competitive pricing structure
  • Easy documentation and quick processing
  • Option for early & partial settlement
  • Financing for brand new, reconditioned (unregistered), and registered (locally used) cars
  • No processing fee is charged
  • Free from any compounding calculations
  • No fee is applicable for early or partial settlement

Facility Amount:

  • For brand new and reconditioned (unregistered) cars:
    Minimum BDT 4 lacs and Maximum BDT 80 lacs (for Electric and Hybrid Vehicles)
    Minimum BDT 4 lacs and Maximum BDT 60 lacs (for Regular Vehicles)
  • For registered used cars:
    Minimum BDT 400,000 and Maximum BDT 25,00,000
    Note: Maximum facility limit will be governed by Bangladesh Bank Regulations.

Repayment Tenor:

  • Minimum: 6 months
  • Maximum:
    • 72 months for brand new vehicles
    • 60 months for reconditioned vehicles
    • 48 months for locally registered/used vehicles

Eligibility:

  • Age:
    Minimum 21 years and maximum 65 years, or retirement age—whichever is earlier—at the time of Facility maturity
  • Experience:
    • Salaried person: Minimum 1 year of experience, including 6 months in permanent employment
    • Self-employed: Minimum 1 year of professional practice
    • Businessperson: Minimum 2 years of involvement in the same nature of business
  • Minimum Income Requirement:
    • BDT 40,000 for salaried persons and self-employed professionals
    • BDT 50,000 for businesspersons, landlords/landladies, or individuals with other sources of income

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