What are the procedures for applying for a Motorcycle Loan in Bangladesh?

Motorcycle has become very popular transport whether we think about riding as a hobby or as a daily commuter. But it is not so easy for everyone to buy a bike outright in cash. Now several banks and NBFIs are offering Motorcycle loan to make your life comfortable and fulfill your dream to have a bike.

Bangladesh is the most densely populated country where traffic jam is a quite common word, especially for city life. To avoid traffic jams, to get rid of haphazard bus services, affordable price, low maintenance cost, and several other reasons many people have the dream of having a bike.

 Read also: How to get a Car Loan in Bangladesh? 

Advantages to having a Motorcycle:

  • Simple to manage in traffic in contrast to cars.
  • Perfect mileage.
  • Lesser mileage.
  • Lesser environmental pollution.
  • Low maintenance.
  • Affordable.
  • Easy to move and park etc.

Features of Motorcycle loan from Banks in Bangladesh:

Features may vary from bank to bank. For details about Motorcycle Loan, you can go to the bank physically or you can visit their official website.

  • Loan amount minimum BDT 50000 – BDT 1000000.
  • Repayment tenor maximum 60 months.
  • Processing fee 0.5 % of the loan amount.
  • Special interest rate & no processing fee are allowed by some banks for female customers.
  • Partial/ Early Settlement Fee: 0.5% of the outstanding loan amount.
  • LTV- Highest 70% of the bike price will be given as loan.
  • Joint Registration (Customer & Bank).
  • First party insurance is mandatory.

The procedure followed by banks for providing a bike loan in Bangladesh:

If your own finance is not sufficient to have a Motorcycle, you can avail of the option of getting a Motorcycle loan from banks. You can avail Motorcycle loans up to Tk. 10.00 lac from banks. You need to visit any nearby banks as you preferred which are offering bike loans. Research the interest rates and tenure of loans and other criteria from several banks to choose your option.

Eligibility criteria for Motorcycle loans

Eligibility criteria for getting Motorcycle loans may vary from bank to bank. For details, you have to go to the bank physically or you can visit their official website.

  1. Professionals Eligibility:
  • Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
  • Experience: Minimum 1 year of practice experience (as per license)
  • Income: Minimum BDT 25000


  • Professional license of respective profession such (As BMDC certificate for doctors, Bar council license for lawyers
  • 6 months Bank Statement

   2. Businessman Eligibility:

  • Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
  • Experience: Minimum 2 years of business experience (as per trade license)
  • Income: Minimum BDT 25000


  • Business card (if any)
  • 6 months Bank Statement
  • 2 years trade license
  • Copy of Memorandum & Articles of Association. (If required)
  • Certificate of Incorporation. (If required)
  • Latest Form XII. (If required)
  • Registered Partnership Deed. (If required)

     3. Land Lord/Lady Eligibility:

  • Age: Min- 21Years (at the time of application) & Max-60 Years (at the end of loan tenor)
  • Income: Minimum BDT 25000


  • Rental income receipt
  • Copy of property ownership documents
  • AC land mutation copy
  • 6 months Bank Statement

Common documents required for Motorcycle loan from banks:

  • Valid NID copy
  • Valid personal E-TIN Certificate copy
  • Up to date two photographs signed by the applicant
  • LOI/Salary certificate/pay-slip (signed by Manager Branch / Accounts / HR / Admin / Finance) or Pay slip stating Company’s Name
  • Bank Statement required as per bank prescribed.
  • Guarantor NID and Photo.
  • Latest Utility Bill (Gas/Water/Electricity)
  • Quotation for Vehicle/Motorcycle to be purchased.

Interest, Fees and Charges for Motorcycle loan imposed by banks:


Interest rate fixed by the respective bank which is controlled by Bangladesh Bank. Present rate of interest fixed by the BB is not more than 09.00%. If one fails to pay monthly EMI he/she has to pay an additional amount along with fixed EMI on a daily basis and is calculated on the basis of 360 day year. Some banks have accrued additional charges in the name of late payment fees.
Fees and Charges applied by the Bank in the form of;
1) CIB Inquiry fee.
2) Loan Application Fee.
3) Loan Processing Fee.
4) Contact Point Verification fee.
5) Charges Document Fee.
6) Legal Opinion Fee.
7) Other as banks discretion.

List of banks presently offering Motorcycle loan in Bangladesh:

  1. The City bank Ltd.
  2. Uttara Bank Ltd.
  3. HSBC Ltd.
  4. BRAC Bank Ltd.
  5. Prime Bank Ltd.

If you think you are eligible for a Motorcycle loan. Go to your desired bank with the required documents. Grab your dream Motorcycle.

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