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Habib Bank Used Car Loan

  •   July 17, 2017


Min SalaryAED 8,000
Flat Rate (As Advertised)From 2.99% p.a.
Reducing Rate (est. equivalent)From 5.65% p.a.
Arrangement Fee1%
Down payment20%
Max Finance Amount500,000
Early Settlement Fee1%

 

MAIN BENEFITS

  • 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.
Habib Bank Used Car Loan
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