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Emirates Money New and Used Car Loans

Emirates Money Bank

New and Used Car Loans

Minimum Salary

AED 5K

Flat Rate

10%

Reducing Rate

18.14%

Loan Amount

AED 750K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 5K

Minimum Salary

flat rate

10%

Flat Rate

reducing rate

18.14%

Reducing Rate

max finance

AED 750K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

 

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 10%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 18.14% and 10%. 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 750,000 that Emirates Money 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 is provided by Emirates Islamic bank
  • 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
  • Documentation is simple
  • Minimum salary requirement is low

Frequently Asked Questions

⭐ What if I am on social security. Will I still be able to apply for loan in Emirates Money?

A. Yes, Emirates Money provides loan to applicants who are on social security also.

⭐ What does upside down on a car loan mean?

A. Being upside down on a loan means you owe more than your car value.

⭐ Can we negotiate interest rates for car loan in Emirates Money bank?

A. Yes, if you have good credit history, then you can negotiate interest rates in Emirates Money bank.

⭐ What if I have limited credit history. Will Emirates Money provide me car loan?

A. Yes, but Emirates Money bank might charge you with high interest rates.

⭐ I am newly employed in a company. Will I still be able to apply for car loan in Emirates Money bank?

A. Yes, all you need to do is provide income proof while applying for car loan.

Emirates Money

Emirates Money is a subsidiary of Emirates NBD. It serves all set of customers like self employed, salaried, corporate financing and much more. Emirates Money provides different options to help the individuals better. It 2016 Emirates Money is transferred entirely to Emirates NBD which is one of the largest banks that has established its services globally. It works with a mission to make their customer’s live simpler by fulfilling their financial goals.