Union National Bank Used Car Loan with no salary transfer

  •   July 14, 2017


Min SalaryAED 8,000
Flat Rate (As Advertised)4.12% p.a.
Reducing Rate (est. equivalent)7.47% p.a.
Arrangement Fee1%
Down payment20%
Max Finance Amount250,000
Early Settlement Fee1%

 

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.

Union National Bank Used Car Loan with no salary transfer
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