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CBD Murabaha Vehicle Finance(Used)
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I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The information provided on this website does not constitute the marketing of any products or services to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Marino, San Marino, Vatican and Isle of man. The content on this website is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals. Find your nearest Citi branch: www.findmyciti.com/ae/. Call us at: +971 4 311 4000.
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Murabaha Vehicle Finance(Used)
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.5%
- Minimum salary requirement is AED 8,000
- The reducing rate and the flat rate is 6.4% and 3.5%. 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 500,000 that CBD bank can provide
- Early settlement fee is 1% of the finance amount
- Processing fee is 1% of the finance amount
- About 20% down payment is required for this finance
- 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
- Minimum salary requirement is low
- Registration of the vehicle will be given on third party name
- Finance up to 80% of the car price
- You can earn upto 50 Attijari points for every AED 1,000 of finance
Frequently Asked Questions
⭐ If I already have existing car loan with CBD. Can I apply for another one?
A. Yes, you can apply for another loan but only after bank evaluates your application properly.
⭐ What if I am newly employed. Can I still apply for car loan in CBD?
A. Yes, you just need to provide proof of your monthly income to the bank.
⭐ Can I get lowest monthly payment on my car loan?
A. Yes, if you have good credit history then you can have lowest monthly payments.
⭐ Can I make early payments without any penalty charged?
A. Yes, but prepayment charges will be applied to your loan.
⭐ Can I get car loan without getting insurance for it?
A. No, it is mandatory to get insurance while you are applying for car loan.
Commercial Bank of Dubai (CBD) offers a wide range of retail and commercial banking products and services, in both conventional and Shariah-compliant formats, with a network of 26 branches and over 210 ATMs throughout the UAE. The bank endeavors to build sustainable prosperity through extraordinary banking experiences. CBD commits to:
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