ADIB New Car Finance - Murabaha cnl

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adib Bank

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New Car Finance - Murabaha cnl

Minimum Salary

AED 10K

Flat Rate

2.59%

Reducing Rate

4.7%

Loan Amount

AED 150K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

Down Payment

20%

AED 10K

Minimum Salary

2.59%

Flat Rate

4.7%

Reducing Rate

AED 150K

Loan Amount

1%

Early Settlement Fee

AED 1000

Arrangement Fee

20%

Down Payment

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 2.59%
  • Minimum salary requirement is AED 10,000
  • The reducing rate and the flat rate is 4.7% and 2.59%. This denotes that the computation done was a division of the reduction rate by 1.815
  • No salary transfer is required
  • Maximum loan amount is AED 150,000 that ADIB bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is AED 1000
  • About 20% down payment is required for this finance

Benefits

  • High finance amount and low minimum salary requirement is there for given finance
  • The given finance is Sharia-compliant
  • Long repayment period for this loan
  • Convenient features like one signature application
  • As low as 2.59% rates on new cars
  • Approval is quick
  • Documentation is simple
  • Takaful cover fully comprehensive
  • Finance up to 80% of the car price

Frequently Asked Questions

Q. How long does it take to get car loan sanctioned in ADIB?

A. In ADIB within 2-7 days car loan gets sanctioned.

Q. What will happen if I don’t pay EMI on time in ADIB?

A. If you don’t pay EMI’s on time it will affect your credit history.

Q. Do I need to be a regular employer to get a car loan in ADIB?

A. No, it depends on case to case. If you have good credit history and you can proof your regular income then ADIB might consider you.

Q. What do I do once my car loan is approved by ADIB?

A. Once your car loan is approved, within 2-3 days your loan amount gets disbursed.

Q. How old do I need to be to get car loan in ADIB?

A. You need to be at least 18 years old to apply for car loan in ADIB.

ADIB

With a mission statement of ‘Islamic finance for everyone’, Abu Dhabi Islamic Bank (ADIB) is a name synonymous with Islamic banking in the UAE. ADIB endeavors to be a responsible corporate citizen and manage its business by creating value for customers, shareholders, employees and communities wherever it operates. The corporate values of ADIB are:

  • Simple and Sensible
  • Transparent
  • Mutually beneficial work
  • Hospitable and tolerant
  • Shariah inspired

Launched on November 11, 1998, ADIB has come a long way towards fulfilling its vision of becoming a top tier regional bank.