Bank can provide highest Tk 4.0m to buy car

Banks will now be able to provide loan up to 50 per cent or highest Tk 4.0 million to a client for the purchase of car in place of the present limit of Tk 2.0 million. Bangladesh Bank (BB) on Wednesday issued a circular changing the provision in bank financing of motor vehicle purchase. Earlier, the debt-equity ratio for purchasing a car was 30:70. But now, it has been made 50:50. Bangladesh Bank Governor Secretariat's general manager AFM Asaduzzaman said the central bank has issued the new circular in order to check the spending of money in unnecessary sectors, according to a news agency.