SimplyLife Car Loan

SimplyLife Bank

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Car Loan

minimun salary

Minimum Salary

AED 8K

flat rate

Flat Rate

3.3%

reducing rate

Reducing Rate

5.99%

max loan

Loan Amount

AED 1500K

early settlement fee

Early Settlement Fee

AED 0

arrangement fee

Arrangement Fee

1%

down payment

Down Payment

20%

Apply Now
minimum salary

AED 8K

Minimum Salary

flat rate

3.3%

Flat Rate

reducing rate

5.99%

Reducing Rate

max finance

AED 1500K

Loan Amount

early settlement fee

AED 0

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 5.99%
  • Minimum salary requirement is AED 8,000
  • The reducing rate and the flat rate is 5.99% and 3.3%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Salary transfer is not required
  • Maximum loan amount is AED 1,500,000 that SimplyLife bank can provide
  • Early settlement fee is AED 0
  • Processing fee is 1% of the finance amount
  • About 20% down payment is required for this finance

Benefits

  • High finance amount is provided by SimplyLife 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

Frequently Asked Questions

Q. Do we have to pay any extra fees for early settlement of loan?

A. No, in SimplyLife you don’t have to pay any extra fees for early settlement of loan.

Q. What if I want to change the loan amount that I applied for?

A. If you want to decrease the loan amount then there is no problem but if you want to increase the loan amount then you will have to contact bank.

Q. Do I need to have insurance on the vehicle on which I am getting the finance?

A. Yes, you need to have insurance on the vehicle before taking delivery.

Q. Do I need to be a regular employer to get a car loan in SimplyLife Bank?

A. No, it depends on case to case. If you have good credit history and you can proof your regular income then SimlyLife Bank might consider you.

Q. My car was recently repossessed. Can I get loan on pre-approved car?

A. If your credit score is not bad and your account shows balance then you can get loan for pre-approved car in SimplyLife bank.

SimplyLife

In April 2014, Abu Dhabi Commercial Bank (ADCB) launched a consumer finance brand focused on quick and easy personal finance products – SimplyLife. Launched as a strategic business unit of ADCB, SimplyLife endeavors to offer personal finance options to people with minimum documentation and a simplified application process. ‘Don’t let life’s special moments pass you by’ is the mission statement of SimplyLife and their policies are centered on making loans quicker and easier. For emergencies, SimplyLife has a priority call back service which can be availed of by sending an SMS ‘emergency’ to 2636.

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