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Dubai Islamic Bank Al Islami New Car Finance

Dubai Islamic Bank Bank

Al Islami New Car Finance

Minimum Salary

AED 3K

Flat Rate

2.35%

Reducing Rate

4.42%

Loan Amount

AED 1500K

Early Settlement Fee

1%

Arrangement Fee

AED 2500

Down Payment

20%

minimum salary

AED 3K

Minimum Salary

flat rate

2.35%

Flat Rate

reducing rate

4.42%

Reducing Rate

max finance

AED 1500K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arragement fee

AED 2500

Arrangement Fee

down payment

20%

Down Payment

View details on bank page

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 2.35%
  • Minimum salary requirement is AED 3,000
  • The reducing rate and the flat rate is 4.42% and 2.35%. 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 1,500,000 that Dubai Islamic bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is AED 2500
  • 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 used cars
  • Maximum repayment period is of 60 months
  • Approval is quick
  • Documentation is simple
  • Minimum salary requirement is low
  • Finance up to 80% of the car price
  • Dubai Islamic bank provides option of financing other accessories and insurance

Frequently Asked Questions

⭐ How much loan will I be able to afford?

A. Depending on your monthly income and expenditure, a general guide is only 20% of your salary should go in paying the loan amount.

⭐ Whom should I take car loan from, dealer or bank?

A. Wherever you find better deals, you should apply there.

⭐ What are bi-weekly payments in car loans?

A. Bi-weekly payments are done every 2 weeks instead of once a month. Only advantage you get here is low per-payment.

⭐ Can I negotiate interest rates in Dubai Islamic Bank?

A. Yes, if you have good credit history then you can negotiate interest rates with bank.

⭐ Do I need to provide guarantor to apply for car loan in Dubai Islamic bank?

A. No, as long as you have good credit history and your monthly income meets our given criteria, you don’t have to provide guarantor in Dubai Islamic bank.

Dubai Islamic

Dubai Islamic Bank (DIB), established in 1975 is the pioneer of Islamic banking that has seen a phenomenal growth. The Bank since inception has remained customer-centric organization, where honesty and customized personal service form the basis of all relationships. Though sticking to its root traditions, the bank equally blends with the commitment of innovation, flexibility, and modernity. Every customer of the bank is provided with comprehensive solutions for any financial need.

The bank works with the vision of providing unsurpassed customer service and becoming the world’s largest Islamic banking corporation.

   Get in touch with Dubai Islamic Bank Customer Care