ADIB Used Car Finance - Ijarah cnl

adib Bank

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Used 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. Can I take a joint loan in ADIB?

A. Yes, if both of them live at the same address at the time of applying for loan then ADIB may approve.

Q. Is my information secured with ADIB?

A. Yes, your information is secured in ADIB secure server.

Q. My car was recently repossessed. Can I get loan on pre-approved car?

A. If your credit score is not bad and your account shows balance then you can get loan for pre-approved car in ADIB.

Q. Is it better to save or overpay a car loan in ADIB?

A. It is best to save as while overpaying you’ll be charged with more interest rate and you’ll end up paying more than loan amount.

Q. Am I suppose to apply for car before getting auto loan?

A. No, it is better to first apply for loan, then look for car.

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