ADIB New Car Finance – Ijarah cnl

adib Bank

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New Car Finance – Ijarah cnl

Minimum Salary

AED 10K

Flat Rate

3.99%

Reducing Rate

7.23%

Loan Amount

AED 150K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

Down Payment

0%

AED 10K

Minimum Salary

3.99%

Flat Rate

7.23%

Reducing Rate

AED 150K

Loan Amount

1%

Early Settlement Fee

AED 1000

Arrangement Fee

0%

Down Payment

Features

  • Repayment period is up to 72 months
  • Interest rate for the given finance is 3.99%
  • Minimum salary requirement is AED 10,000
  • The reducing rate and the flat rate is 7.23% and 3.99%. 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 150,000 that ADIB bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is AED 1000
  • 0% down payment is required for this finance

Benefits

  • 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
  • Convenient features like one signature application
  • As low as 3.99% rates on new cars
  • Approval is quick
  • Documentation is simple
  • Takaful cover fully comprehensive
  • Finance up to 80% of the car price

Frequently Asked Questions

Q. Am I allowed to get a co-signer for car loan in ADIB?

A. Yes, if your credit score is low or income is low, you can get a co-signer to increase your chances of getting approval from bank.

Q. Does ADIB bank offer In-house car finance?

A. Yes, we do offer In-house car finance in ADIB bank.

Q. Why do we have to put down payment for car loan?

A. Down payment gives security and shows your dedication towards bank.

Q. What do I do once my car loan is approved by ADIB?

A. Once your car loan is approved, within 2-3 days your loan amount gets disbursed.

Q. How are car finance rates decided by ADIB bank?

A. Rates for your car loan is decided on the basis of following:
1. Credit History
2. Monthly income
3. High debt

ADIB

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