Following directives issued by the Bangladesh Bank in May, financial institutions are now permitted to provide loans of up to Tk80 lakh for the purchase of electric, hybrid, and domestically assembled vehicles. Under these updated guidelines, banks can finance up to 80% of the vehicle's total cost, with a repayment tenure extending up to eight years. These relaxed lending terms are contributing to an increased demand for such vehicles in the market.
Economy
Easier auto loans boost demand for electric and hybrid vehicles
New Bangladesh Bank directives allowing higher loan limits and longer repayment periods have spurred interest in electric and hybrid vehicles.
Source: TBS Bangladesh