Q. Do we finance second hand car?

No, we do not.

Q. Will only the loan amount be insured?

No, insurance will be on the total value of the car.

Q. What can be the latest manufacturing year for a reconditioned car?

Loan term can not be extended beyond 8 years from the manufacturing year.

Q. Do IDLC accept joint registration?

No we do not accept joint registration.

Q. Who will pay the ownership transfer fee after settlement of the loan?

Customer will bear the ownership transfer fee.

Q. Do we accept Third Party Insurance coverage?

No, we accept only First Party insurance coverage.

Q. Is there any chance of prepayment?

Partial prepayment option is available. The amount of partial prepayment will have to be at least 20% of the outstanding loan or Tk 100,000, which ever is higher.

Q. Is there any difference between declared and effective rate?

No, there is no difference.

Q. What is the average processing time?

Generally 3- 4 days after submission of application and all required docs.