Dhaka, May 5 -- In a major move to promote eco-friendly transportation, Bangladesh Bank has doubled the personal loan ceiling and significantly increased the limit for car loans, specifically targeting electric and hybrid vehicles.

According to a circular issued by the central bank on Tuesday (May 5), a person can now avail a personal loan of up to Tk 40 lakh, up from the previous limit of Tk 20 lakh.

To encourage the use of environmentally friendly vehicles, the central bank has introduced a specialized credit facility for electric and hybrid cars. Under the new guidelines, customers can now secure auto loans up to Tk 80 lakh for these categories.

For conventional fuel-run vehicles, the maximum loan limit has been set at Tk 60 lakh. ...