CBI New Auto Loan

CBI Bank

WarningMessage This product is vaild by the Bank

New Auto Loan

minimun salary

Minimum Salary

AED 5K

flat rate

Flat Rate

2.75%

reducing rate

Reducing Rate

4.99%

max loan

Loan Amount

AED 500K

early settlement fee

Early Settlement Fee

1%

arrangement fee

Arrangement Fee

1%

down payment

Down Payment

20%

Apply Now
minimum salary

AED 5K

Minimum Salary

flat rate

2.75%

Flat Rate

reducing rate

4.99%

Reducing Rate

max finance

AED 500K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

Apply Now

View details on bank page

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 2.75%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 4.99% and 2.75%. This denotes that the computation done was a division of the reduction rate by 1.815
  • No salary transfer is required
  • Maximum loan amount is AED 500,000 that CBI 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

Benefits

  • High finance amount and low minimum salary requirement is there for given finance
  • Finance can be provided for new as well as used cars
  • Maximum repayment period is of 60 months
  • Approval is quick
  • Documentation is simple
  • Minimum salary requirement is low

Frequently Asked Questions

Q. What is the minimum length of service required to apply for car loan in CBI bank?

A. Length of service required for UAE Nationals is 3 months and for expats it is 6 months .

Q. What if I don’t have good credit history. Can I get loan from CBI bank?

A. If you meet rest of the eligibility criteria then bank might offer you loan but at higher interest rates.

Q. What if I default on my loan, will it affect my co-applicant also?

A. Yes, if you default on your loan, it’ll affect your co-applicant’s credit history.

Q. What are the common mistakes that people make while taking a car loan?

A. Instead of focusing on over all loan cost, one should focus on monthly cost of the car payment.

Q. How can I stretch my loan term in CBI bank ?

A. By choosing longer finance term, our monthly payment and interest rates will go down.

CBI

Since its incorporation in the UAE in 1991, CBI is consistently focused on giving simple and easy-to-understand products. It is inspired by a vision of building long-term relationships. The bank offers a comprehensive portfolio of standard banking products, as well as customized financial products for Corporate, SME as part of Retail Banking. Their tailor-made services range from a personal account to financing of homes and automobiles to commercial loans and project financing. The bank work on the values of:

  • Speed
  • Customer Focus
  • Confidence
  • Communication
  • Teamwork

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