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Emirates Islamic New Auto Finance for Self Employed

Emirates Islamic Bank

New Auto Finance for Self Employed

Minimum Salary

AED 20K

Flat Rate

3.19%

Reducing Rate

5.84%

Loan Amount

AED 750K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 20K

Minimum Salary

flat rate

3.19%

Flat Rate

reducing rate

5.84%

Reducing Rate

max finance

AED 750K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

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 3.19%
  • Minimum salary requirement is AED 20,000
  • The reducing rate and the flat rate is 5.84% and 3.19%.
  • No salary transfer is required
  • Maximum loan amount is AED 750,000 that Emirates Islamic bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is 1% of the finance amount
  • 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
  • 30 minutes approval
  • Documentation is simple
  • Free current account in emirates Islamic bank
  • Minimum salary requirement is low

Frequently Asked Questions

⭐ What if I don’t have driver license. Can I still apply for car loan?

A. No, to apply for car loan in Emirates Islamic bank you need to have at least learners license.

⭐ What if I am not able to repay my car loan on time?

A. If you don’t repay loan on time, it might affect your credit history. It is suggested to contact your bank at the earliest and let them know about your situation.

⭐ What is the maximum and minimum tenure for car loan in Emirates Islamic?

A. Minimum tenure is 12 months and maximum is 60 months for car loan.

⭐ What is suggested better, overpay a loan or save?

A. It is suggested to overpay loan as you end up paying higher rate of interest on loan than you receive on savings.

⭐ Are all the customers charged with same rate of interest for a particular loan?

A. No, your rate of interest is determined on the basis of your credit history.

Emirates Islamic

In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.

   Get in touch with Emirates Islamic Customer Care