Bank Asia offers loans for two-wheelers

Bank Asia PLC has launched a two-wheeler loan facility to provide customers with easy and convenient financing to purchase new two-wheelers.

Under this facility, customers will be able to purchase brand-new fuel-driven or electric two-wheelers for personal, non-commercial use.

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ANM Mahfuz, additional managing director of the bank, inaugurated the new loan facility on Tuesday at a ceremony held at Bank Asia Tower in Karwan Bazar, Dhaka, according to a press release.

Under the two-wheeler loan facility, salaried individuals, self-employed professionals, businesspersons and individuals with regular and verifiable sources of income will be able to avail themselves of loans ranging from a minimum of Tk 50,000 to a maximum of Tk 5 lakh at a competitive interest rate.

The loan amount will be up to 50 percent of the vehicle price.

Customers will have the convenience of repaying the loan through equal monthly instalments (EMIs) over a maximum tenure of four years.

Applicants must be at least 22 years of age, while the maximum age at loan maturity is 65 years.

Bank Asia continues to expand its retail banking services with a focus on providing need-based financial solutions that cater to the changing needs and lifestyles of its customers, the release added.

The newly launched loan product will enable customers to purchase two-wheelers to meet their everyday transportation needs.

Zahed Chowdhury, head of assets and retail banking at the bank, along with other senior officials, was also present at the event.