Popular Car Loans
ADIB Used Car Finance - Murabaha
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.09%
- Minimum salary requirement is AED 5,000
- 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 1.813
- No salary transfer is required
- Maximum loan amount is AED 1,000,000 that ADIB 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
- 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
- Finance up to 80% of the car price
- For the first year you can get free ADIB Visa Cashback Card
Frequently Asked Questions
Q. If bank has declined my loan once, can I apply again?
A. Yes, as long as your circumstances are not same, you can apply for loan again.
Q. What are the different tenure options available for the car loan in ADIB bank?
A. Minimum tenure is 12 months and maximum you can repay in 60 months.
Q. What all cars can be financed under this finance?
A. You can finance most passenger cars and multi-utility vehicles manufactured by UAE’s leading automobile companies.
Q. How is monthly payment for car loan determined in ADIB?
A. In ADIB they check your following eligibility criteria:
1. Age of the vehicle
2. Down payment
3. Credit history
4. Vehicle’s Mileage
Q. What all do I need to get approval for a car loan in ADIB?
A. You need following documents to get approval for a car loan:
1. Bank account
2. Current address
3. Driver’s License
4. Down Payment
5. Proof of employment and income