You can get up to Tk40 lakh personal loan, Tk80 lakh for electric cars
Previous limit was Tk20 lakh.
An individual will now be able to take a maximum loan of Tk40 lakh from a bank, up from the previous limit of Tk20 lakh. Bangladesh Bank has also allowed higher loan limits for purchasing electric vehicles.
The central bank issued a circular on Tuesday (5 May) and sent it to all commercial banks.
According to the circular, an individual can receive a personal loan of up to Tk40 lakh. Consumer lending rules have also been revised in consideration of prevailing market prices and rising demand for consumer goods.
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Under the new circular, an individual can take a maximum auto loan of Tk60 lakh for conventional vehicles. However, for electric and hybrid vehicles, the limit has been raised to Tk80 lakh.
The circular said new facilities had been introduced in auto loans to increase the use of environmentally friendly vehicles in the country.
The debt-equity ratio has also been revised. For conventional vehicles, loans can be provided at a maximum ratio of 60:40, while for electric and hybrid vehicles the ratio has been increased to 80:20.
It also said that when determining a person's total loan exposure, auto loans taken by dependent family members would also be included.
The circular further said banks must distribute consumer loans in such a way that loan growth in the consumer financing sector does not exceed the bank's overall loan growth.
Previous directives issued in 2004, 2017 and 2024 on the matter have been cancelled through the new circular.
Bangladesh Bank issued the instruction under Section 45 of the Bank Companies Act, 1991, and it takes immediate effect.
