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Sharjah Islamic Bank New Car Finance

    Min SalaryAED 6,000
    Flat Rate (As Advertised)2.79% p.a.
    Reducing Rate (est. equivalent)5.06% p.a.
    Arrangement Fee1%
    Down payment20%
    Max Finance Amount500,000
    Early Settlement Fee1%

     

    MAIN BENEFITS

    • Flexible repayment period of up to 60 months.

    OVERVIEW OF FEATURES

    • This finance is sharia-compliant.
    • You are required to put 20% as down payment for this product.
    • Finance repayment period is up to 60 months.
    • You require a minimum salary of AED 6,000 per month to be eligible.
    • It is a requirement to transfer your salary to apply
    • The processing fee is 1% of the total finance amount.
    • The early settlement fee for this finance is 1% of the outstanding amount (principal + profit) to date. The bank has the discretion to waive any or all of the total outstanding profit.
    • The flat rate of this finance is 2.79% and the equivalent rate in reducing balance is 5.06%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.
    • The flat rate of this finance is 2.79% and the equivalent rate in reducing balance is 5.06%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.


    Sharjah Islamic Bank New Car Finance
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