Standard Chartered New Auto Loan

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New Auto Loan

Minimum Salary

AED 5K

Flat Rate

2.49%

Reducing Rate

4.72%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

AED 5K

Minimum Salary

2.49%

Flat Rate

4.72%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

20%

Down Payment

Features

  • Repayment period is up to 84 months
  • Interest rate for the given finance is 2.49%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 4.72% and 2.49%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Salary transfer is not required
  • Maximum loan amount is AED 1,000,000 that Standard Chartered 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 is provided by Standard Chartered Bank
  • 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 84 months
  • Documentation is simple
  • Loan can be provided upto 100% vehicle price

Frequently Asked Questions

Q. Does Standard Chartered Bank finance commercial vehicles?

A. Yes, Standard Chartered Bank provides finance for commercial vehicles also.

Q. Does Standard Chartered Bank provide finance to seasonal workers?

A. Yes, Standard Chartered Bank provides finance to seasonal workers.

Q. Do I need to be a regular employer to get a car loan in Standard Chartered Bank?

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

Q. Do we have to provide collateral while applying for car loan in Standard Chartered Bank?

A. No, as long as you don’t have bad credit score and you satisfy our eligibility criteria, you don’t have to provide collateral while applying for car loan.

Q. When do I have to pay higher interest rates for my finance?

A. If you don’t have good credit score and you don’t match bank’s eligibility criteria, then you might be asked to pay higher interest rates.

Standard Chartered

A leading international banking group, with a rich history of over 150 years, Standard Chartered Bank (SCB) has been present in the UAE since 1958. SCB offers a range of products under Islamic and Conventional banking and is one of the leading financial institutions in UAE. Their main objective is ‘to offer outstanding value to customers and clients by providing a knowledgeable, efficient and reliable service in a personal, helpful and responsive manner’.

Corporate Values of the Standard Chartered Bank:

  • Knowledge
  • Efficiency
  • Reliability in Service
  • Personal Approach
  • Helpful and Responsive Mannerisms