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Dubai Islamic Bank Al Islami Used Car Finance
This product is valid by the Bank
Al Islami Used Car Finance
Early Settlement Fee
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.75%
- Minimum salary requirement is AED 3,000
- The reducing rate and the flat rate is 5.19% 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 1,500,000 that Dubai Islamic bank can provide
- Early settlement fee is 1% of the finance amount
- Processing fee is AED 2500
- 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 used cars
- Maximum repayment period is of 60 months
- Approval is quick
- Documentation is simple
- Minimum salary requirement is low
- Finance up to 80% of the car price
- Dubai Islamic bank provides option of financing other accessories and insurance
Frequently Asked Questions
Q. Will there be any additional costs charged on our car loan?
A. Along with car loan you need to pay few additional charges:
1. Processing fee
2. Documentation charges
3. Stamp duty
Q. Are there any vehicles that are not eligible for Dubai Islamic car financing?
A. Yes, Dubai Islamic bank does not offer finance for custom built vehicles.
Q. Am I allowed to increase my car loan repayment in Dubai Islamic bank?
A. Yes, you just need to contact our collections department on +9714 6092222.
Q. How are rates charged for car loan decided in Dubai Islamic bank?
A. Rates charged are decided on the basis of your credit history, loan amount, monthly income and total debts.
Q. Do I need to provide guarantor to apply for car loan in Dubai Islamic bank?
A. No, as long as you have good credit history and your monthly income meets our given criteria, you don’t have to provide guarantor in Dubai Islamic bank.
Dubai Islamic Bank (DIB), established in 1975 is the pioneer of Islamic banking that has seen a phenomenal growth. The Bank since inception has remained customer-centric organization, where honesty and customized personal service form the basis of all relationships. Though sticking to its root traditions, the bank equally blends with the commitment of innovation, flexibility, and modernity. Every customer of the bank is provided with comprehensive solutions for any financial need.
The bank works with the vision of providing unsurpassed customer service and becoming the world’s largest Islamic banking corporation.