AL NOOR Car Investment Scheme (ANCIS) is a terminating financing facility based on Hire Purchase under Shirkatul Melk (HPSM) where both customer and the bank have joint ownership of the vehicle.

Key Features:

• Financing for buying new or Reconditioned Vehicles (Private Car, Microbus, Jeep)
• Investment up to 40.00 Lac (maximum 50% of the quoted value of the car )
• For Full Cash Covered Investment: Maximum 90% of Cash Security [i.e. ONE Bank Term Deposit/Deposit Scheme/WEBD/Govt. Bonds etc).
• Maximum Tenure up to 05 Years for Brand new Car & 04 Years for Reconditioned car.
• Rent will be charged as per Reducing Balance Method.

Bankers’ Obligations/ Customers’ Obligations:

• Purchase of brand new and reconditioned vehicle for personal use only.
• Vehicle should not be older than 5 years or decided by Bangladesh Bank from time to time.
• Age Minimum 21 years Maximum 60 years or retirement age whichever is earlier at the investment maturity date. However, applicant having age over 60 may apply jointly with spouse, son daughter etc.
• Maximum debt equity ratio: 50:50 (Bank : Client) or Prescribed by Bangladesh Bank from time to time .
• Early Adjustment & Partial Adjustment is allowed any time without any types of Fee/Charges.
• 2% of the approved limit (Min. Tk. 2,000/-). No processing fee for ONE Bank employee. [As per schedule of charges from time to time].