Al Hilal Bank Used Vehicle Finance

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Used Vehicle Finance

Minimum Salary

AED 7K

Flat Rate

2.35%

Reducing Rate

4.26%

Loan Amount

AED 500K

Early Settlement Fee

AED 0

Arrangement Fee

AED 1000

Down Payment

20%

AED 7K

Minimum Salary

2.35%

Flat Rate

4.26%

Reducing Rate

AED 500K

Loan Amount

AED 0

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 2.35%
  • Minimum salary requirement is AED 7,000
  • The The reducing rate and the flat rate is 4.26% and 2.35%. This denotes that the computation done was a division of the reduction rate by 1.814
  • No salary transfer is required
  • Maximum loan amount is AED 500,000 that Al Hilal bank can provide
  • Early settlement fee is AED 0 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
  • Finance can be provided for new as well as old cars
  • Maximum repayment period is of 60 months
  • Approval is quick
  • Documentation is simple
  • Minimum salary requirement is low
  • Registration of the vehicle will be given on third party name
  • Finance up to 80% of the car price

Frequently Asked Questions

Q. What all charges are included while applying for vehicle finance in Al Hilal bank?

A. While applying for vehicle loan the following fees are included:
1. Processing fee
2. Documentation charges
3. Loan cancellation
4. Stamp duty
5. Credit report charges

Q. What all documents are required to apply for vehicle finance in Al Hilal bank?

A. To apply for vehicle finance, we need following documents:
1. 20% down payment is required
2. You should have valid passport and residence visa
3. 3 months latest bank statement
4. Quotation that is addressed to Al Hilal Bank

Q. Do we need to pay penalty on pre-payment of vehicle finance in Al-Hilal bank?

A. No, you need not pay penalty on pre-payment of vehicle finance.

Q. What if I owe more than the car value?

A. It won’t be a problem in Al Hilal bank.

Q. Does taking vehicle finance mean I can’t apply for any other loan?

A. No, you can apply for other loans. However bank will examine your repayment capacity while giving you loan.

Al Hilal

An Islamic bank, headquartered in Abu Dhabi, the Al Hilal Bank was founded by the Abu Dhabi Investment Council and is a government of Abu Dhabi undertaking. The bank was founded in 2008, and currently, has over 25 branches and a network of more than 100 ATMs across the UAE. According to the bank, the Al Hilal bank works with a mission, “To contribute to the national growth and prosperity of the UAE whilst raising the positive profile of Islamic banking globally, in turn, creating value for all stakeholders.”

Corporate Values of the Al Hilal Bank:

  • Principled: Doing what is right is always the right thing to do. The Performance with consistency.
  • Professional: Providing answers to questions, attending quickly and efficiently to requests and solving problems on the spot.
  • Progressive: Making banking simpler, easier and faster for you.
  • Partnership: A bank that values you, for being you. A bank that helps you make things happen.