Credit Bureau Consent, Welcome Offer & General Terms & Conditions

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Ajman Bank Auto Finance Basic Offer-Used

Ajman Bank Bank

WarningMessage This product is discontinued by the Bank

Auto Finance Basic Offer-Used

Minimum Salary

AED 5K

Flat Rate

1.99%

Reducing Rate

3.6%

Loan Amount

AED 400K

Early Settlement Fee

1%

Arrangement Fee

AED 500

Down Payment

20%

minimum salary

AED 5K

Minimum Salary

flat rate

1.99%

Flat Rate

reducing rate

3.6%

Reducing Rate

max finance

AED 400K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arragement fee

AED 500

Arrangement Fee

down payment

20%

Down Payment

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 1.99%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 3.6% and 1.99%. 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 400,000 that Ajman bank can provide
  • Early settlement fee is 1% of the finance amount
  • Processing fee is AED 500
  • About 20% down payment is required for this finance

Benefits

  • High finance amount and low minimum salary requirement is there for given finance
  • Finance can be provided for new as well as old cars
  • Maximum repayment period is of 60 months
  • Approval is quick
  • Documentation is simple
  • Finance up to 80% of the car price

Frequently Asked Questions

⭐ 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.

⭐ Can I get auto finance if I don’t have good credit history?

A. Yes, but you might get charged with higher interest rates as the risk is high in lending you.

⭐ While applying for a car loan what does being upside down mean?

A. Being upside down means that you owe more money to the bank than your car value.

⭐ Who should apply for auto finance in Ajman bank?

A. Anyone who has valid driving license and good credit history can apply for auto finance in Ajman bank.

⭐ How much loan will I be provided with?

A. Ajman bank can finance upto 80% of the car value.

Ajman

Ajman Bank, launched in 2009 is a young, agile Islamic commercial bank that is built on the values of trust, integrity, and transparency. The Emirate's government owns 25% in the bank which is again a strong support. Their way of measuring excellence is based on how efficiently you think they respond to your financial needs. They have brought the human touch back to banking by listening to you.

Ajman Bank Personal Finance is based on the Islamic financing structure of Murabaha, a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin.

   Get in touch with Ajman Bank Customer Care