|Min Salary||AED 8,000|
|Flat Rate (As Advertised)||From 2.99% p.a.|
|Reducing Rate (est. equivalent)||From 5.65% p.a.|
|Max Finance Amount||500,000|
|Early Settlement Fee||1%|
- Finance repayment period is up to 60 months
- The maximum finance amount is AED 500,000.
OVERVIEW OF FEATURES
- You are required to put 20% as down payment for this finance.
- Finance repayment period is up to 60 months; The maximum finance amount is AED 500,000.
- You require a minimum salary of AED 8000 per month to be eligible.
- It is not a requirement to transfer your salary to apply, however this is preferred by the bank.
- The processing fee is 1% of the total finance amount.
- The early settlement fee is 1% of outstanding balance.
- The rate is calculated as a flat rate. For used cars, the car cannot be more than eight years old at the end of the loan tenure.
- The flat rate of this finance is 2.99% and the equivalent rate in reducing balance is 5.65%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.