ADIB Used Car Finance - Murabaha cnl

adib Bank

WarningMessage This product is vaild by the Bank

Used Car Finance - Murabaha cnl

Minimum Salary

AED 10K

Flat Rate

3.09%

Reducing Rate

5.61%

Loan Amount

AED 150K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

Down Payment

20%

AED 10K

Minimum Salary

3.09%

Flat Rate

5.61%

Reducing Rate

AED 150K

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 3.09%
  • Minimum salary requirement is AED 10,000
  • The reducing rate and the flat rate is 5.61% and 3.09%. 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 3.09% 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. What if I have applied for loan and then my financial situation changes?

A. We would suggest you to contact ADIB as soon as possible.

Q. What if I am self-employed and is not able to provide salary slip?

A. You’ll have to provide alternative financial documents to verify your monthly salary.

Q. Can I ask for a credit increase on my existing car loan in ADIB?

A. Yes, the bank will go through your existing financial circumstances and then will decide if credit increase should be considered or not.

Q. Is my information secured with ADIB bank?

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

Q. How does ADIB bank decide our monthly installments?

A. Your monthly installments are decided on the basis of your credit history and monthly income.

ADIB

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