United Arab Bank Used Auto Loan

  •   July 17, 2017


Min SalaryAED 6,000
Flat Rate (As Advertised)5% p.a.
Reducing Rate (est. equivalent)9.07% p.a.
Arrangement Fee1%
Down payment20%
Max Finance Amount500,000
Early Settlement Fee1%

 

MAIN BENEFITS

  • Loan amounts up to AED 500,000
  • Repayment period up to 60 months

OVERVIEW OF FEATURES

  • You are required to put 20% as down payment for this product
  • Loan repayment period is up to 60 months
  • You require a minimum salary of AED 6,000 per month to be eligible.
  • It is not a requirement to transfer your salary to apply.
  • The processing fee is 1% of the principle amount.
  • The early settlement fee is 1% of principle amount.
  • For used cars, the car cannot be more than seven years old at the end of the loan tenure.
  • The flat rate of this finance is 5% and the equivalent rate in reducing balance is 9.07%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.


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