ADIB New Car Finance - Murabaha

adib Bank

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New Car Finance - Murabaha

Minimum Salary

AED 5K

Flat Rate

2.59%

Reducing Rate

4.7%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

Down Payment

20%

AED 5K

Minimum Salary

2.59%

Flat Rate

4.7%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

AED 1000

Arrangement Fee

20%

Down Payment

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 2.59%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 4.7% and 2.59%. 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 1,000,000 that ADCB bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is AED 1000
  • About 20% 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 2.59% rates on new cars
  • Approval is quick
  • Documentation is simple
  • Finance up to 80% of the car price
  • For the first year you can get free ADIB Visa Cashback Card
  • Salary transfer is not required
  • Vehicle from Abu Dhabi National Takaful get low contribution amount

Frequently Asked Questions

Q. Should I get auto finance from a dealer or a bank?

A. You should get a loan wherever you find a better deal and suits your requirements.

Q. What all information is required while applying for a car loan application?

A. Basic information that ADIB requires while applying for car loan are residency information, employment details, basic personal details and references.

Q. What should I do if I want to change address in the application form?

A. You can simply update your details online or can call ADIB on 8002828.

Q. What will happen if I don’t pay EMI’s on time?

A. You can miss 1 or 2 payments but more then that you will be treated as defaulter by ADIB bank.

Q. Does ADIB ask for any additional security while applying for the loan?

A. No, ADIB does not ask for any additional security or guarantor while applying for car loan.

ADIB

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