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Noor Bank New Auto Finance

Noor Bank Bank

WarningMessage This product is discontinued by the Bank

New Auto Finance

Minimum Salary

AED 5K

Flat Rate

2.49%

Reducing Rate

4.56%

Loan Amount

AED 500K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 5K

Minimum Salary

flat rate

2.49%

Flat Rate

reducing rate

4.56%

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

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 2.49%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 4.56% and 2.49%. This denotes that the computation done was a division of the reduction rate by 1.83
  • No salary transfer is required
  • Maximum loan amount is AED 500,000 that Noor 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 Noor 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
  • 24 hour pre-approval
  • Finances up to AED 500,000 for expats and AED 750,000 for UAE Nationals

Frequently Asked Questions

⭐ What does upside down on a car loan mean?

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

⭐ Does my age and occupation matter while applying for car finance in Noor Bank?

A. Yes, you need to be at least 18 years old and should meet bank’s minimum salary requirement to apply for car finance in Noor Bank.

⭐ Does bank offer us what we ask for?

A. No, bank only offers 80% of car value.

⭐ Does taking vehicle finance mean I can’t apply for any other loan?

A. No, you can apply for other loans. However bank will examine your repayment capacity while giving you loan.

⭐ Does Noor Bank finance old models of vehicles?

A. Noor Bank can finance up to 10 years old model.

Noor

Established in January 2008, Noor Bank (formerly known as Noor Islamic Bank), is a young bank providing a wide range of products and service. With a Mission of ‘wanting to be ranked among the top 100 most-innovative companies in the world’ and a Vision ‘to be recognised as the financial icon of Dubai’, the bank follows these values :

  • Customer Centricity
  • Innovation
  • Determination
  • Integrity
  • Responsibility

They believe that Islamic banking has the flexibility and the openness to enable them to offer a wide range of products and services when approached correctly.

   Get in touch with Noor Bank Customer Care