--- title: Car Loan | Get a car on credit at 12% annually description: "Apply for a car loan at Birbank.\nWith a 10% down payment and a minimum term of 12 months, pay for your car in installments." image: https://birbank.az/file/favicon_b66eb11466.png --- # Auto Credit ## Car Loan Obtain the car you desire with Birbank’s auto loan. From 10% Down payment Min. 12 months – Max. 59 months Loan term From 12% Annual interest rate Annuity Repayment type Min. 5,000 AZN – Max. 200,000 AZN Loan amount From 10% Down payment Min. 12 months – Max. 59 months Loan term From 12% Annual interest rate Annuity Repayment type Min. 5,000 AZN – Max. 200,000 AZN Loan amount ![image](https://birbank.az/file/avto_credit_7b67f1429b.svg) ## Car Calculator Electric 2024 Initial payment interest min: 10 mak: 100 Car price min: 0 mak: 500000 Credit term min: 12 mak: 59 Depending on the total credit obligation, the annual interest rate may differ. Minimal initial payment 0 ₼ Monthly credit payment 0 ₼ Annual interest rate 12 % Credit amount 0 ₼ Commission (0.5%) 0 ₼ ## Information Required DocumentsAdditional TermsPartners Identification Document    Official document confirming income (certificate from employer, electronic certificate, or salary account statement)   Age requirement: minimum 20 years, maximum 70 years (the borrower must not exceed 70 years of age by the final loan repayment date) ## Frequently Asked Questions ### What documents are required for an auto loan? The documents required for an auto loan are generally straightforward. The applicant must provide personal identification documents (ID card or passport) as well as documents confirming their income (such as a salary certificate), along with any other documents required by the Bank. As each bank may have its own requirements, it is recommended to obtain the exact list of required documents from the Bank’s official website or customer service channels. ### What are the main terms for an auto loan? The main terms of an auto loan are related to the loan amount, term, and interest rate. Generally, a minimum down payment of 10% is required. The loan term ranges from 12 to 59 months, and the interest rate is determined based on the conditions offered by the Bank. Minimum age requirement is 20 years and a stable source of income is also required for loan applications. In addition, the applicant’s credit history is taken into consideration. Based on the evaluation of these factors, the Bank approves or declines the loan application. ### What down payment is required for an auto loan? When applying for an auto loan through Birbank, the down payment condition is as follows: According to the Bank’s official website, the required down payment for an auto loan starts from 10%.   This means that at least 10% of the total price of the vehicle must be paid as a down payment.   In addition, the down payment amount may vary depending on the loan terms, the vehicle price, and the Bank’s specific campaigns or offers. Therefore, it is recommended to consult the Bank or review the official terms and conditions before submitting an application. ### What loan terms are available? For Birbank auto loans, the loan term usually ranges from a minimum of 12 months to a maximum of 59 months. This means that you can repay your vehicle loan in installments over a period starting from 1 year up to approximately 4–5 years. ### What is the interest rate? According to Birbank’s auto loan offer, the annual interest rate starts from 12%. However, this rate may vary depending on current campaigns, the type of vehicle, the loan term, and the amount of the down payment. Therefore, the interest rate may be higher than 12%, depending on the specific loan conditions. ### Under what conditions can I apply for a loan? To apply for a Birbank auto loan, the following main conditions apply: - The applicant must be at least 20 years old and must not exceed 70 years of age by the final loan repayment date. - The applicant must have an official and stable source of income (e.g. salaried employment or pension). - If the applicant is currently employed, they must have at least 3 months of work experience in their current position (this requirement generally does not apply to pensioners). - If necessary, the Bank may request a guarantor or additional collateral. ### Is the loan provided only for new vehicles, or is it also available for used cars? Birbank’s auto loan is available for both new and used vehicles. This means that regardless of whether the vehicle is new or pre-owned, you may apply for a loan provided that it meets the Bank’s lending criteria. However, specific conditions and price limitations may apply to used vehicles. For further details, it is recommended to contact the Bank’s customer service. ### How is the loan repaid? Loan repayment is carried out in equal monthly installments. Payments can be automatically debited from the customer’s selected bank account, and other payment methods may also be available. The monthly payment amount and interest are determined in advance for the entire loan term. Timely repayment is essential, as delays may result in additional interest charges. For more detailed information on repayment options, please contact the Bank’s customer service. ### How can I apply for a loan? You may visit the nearest Birbank branch and submit your application in person. During the application process, you are required to provide your personal information and income documents. The Bank will inform you about the application result within approximately 1–3 business days.