Bangladesh, June 26 -- Bangladesh Bank has increased the limit of personal car loans to encourage the development of the domestic car industry and the use of environmentally friendly vehicles.

At the same time, the maximum tenor of personal loans has also been increased. A circular letter in this regard was issued on Thursday and instructions were sent to the managing directors and chief executives of all scheduled banks in the country.

According to the circular issued by the Banking Regulation and Policy Department (BRPD) of Bangladesh Bank, a customer could previously take a car loan up to a maximum of Tk60 lakh.

However, the loan limit has been increased to Tk80 lakh for the purchase of electric, hybrid and domestically produced ca...