Popular Car Loans
Other Car Loans From aafaq
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.
aafaq Auto finance for salaried individuals (aafaq Sayyarat)
Auto finance for salaried individuals (aafaq Sayyarat)
- Repayment period is up to 48 months
- Length of business for salaried individuals is 6 months
- Interest rate for the given finance is 3.75%
- Minimum salary requirement is AED 7,000
- The reducing rate and the flat rate is 6.8% and 3.75%. This denotes that the computation done was a division of the reduction rate by 1.813
- Maximum loan amount is AED 500,000 that Aafaq bank can provide
- Early settlement fee is 1% of the finance amount
- Processing fee is AED 500
- About 20% down payment is required for this finance
- 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
Frequently Asked Questions
⭐ Do I need to be in regular employment to apply for car loan in Aafaq bank?
A. No, if you have sufficient evidences that you can repay the loan ot given rate then your application can be considered by bank.
⭐ What is the average monthly bank credit turnover needed for Aafaq auto finance?
A. The average monthly bank credit turnover needed for Aafaq auto finance is AED 50,000.
⭐ Can my car loan application get rejected by bank?
A. Yes, if you don't have good credit history and you don't meet their eligibility criteria then your application might get rejected by bank.
⭐ Do we get option to pre-pay the entire loan amount in Aafaq bank?
A. Yes, only after 6 months of availing of loan amount you can pre-pay the entire loan.
⭐ How does the profit rate vary for Aafaq auto finance?
A. Profit rates vary according to dealer from whom the car is purchased and the customer profile.
Aafaq Islamic Finance provides Islamic financial solutions all across UAE and is one of the major financial institutions that provide Sharia compliant financial services for a wide range of institutions. The Aafaq financial company was founded in 2006 and is a fully autonomous financial institution.
The company focusses on exploring and finding out the best opportunities within various business sectors in order to get highest possible returns for its shareholders.