| Min Salary | AED 8,000 |
| Flat Rate (As Advertised) | 4.12% p.a. |
| Reducing Rate (est. equivalent) | 7.47% p.a. |
| Arrangement Fee | 1% |
| Down payment | 20% |
| Max Finance Amount | 250,000 |
| Early Settlement Fee | 1% |
MAIN BENEFITS
- Get loan amounts of up to AED 250,000 with a repayment period of up to 60 months. This finance can be offered as per the sharia law.
OVERVIEW OF FEATURES
- You are required to put 20% to 30% as down payment for this product depending on whether your company is listed or not.
- Loan repayment period is up to 48 months.
- You require a minimum salary of AED 8,000 per month to be eligible.
- It is not a requirement to transfer your salary to apply.
- The processing fee is 1% of finance amount [Min AED 500; Max AED 2,500].
- The early settlement fee is 1% of outstanding balance.
- The rate starts from 4.12%. For used cars, the car cannot be more than nine years old at the end of the loan tenure.
- The flat rate of this finance is 4.12% and the equivalent rate in reducing balance is 7.47%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.
