Standard Chartered Used Auto Loan

standard-chartered Bank

WarningMessage This product is valid by the Bank

Used Auto Loan

Minimum Salary

AED 8K

Flat Rate

3.5%

Reducing Rate

6.54%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

AED 8K

Minimum Salary

3.5%

Flat Rate

6.54%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

20%

Down Payment

Features

  • Repayment period is up to 84 months
  • Interest rate for the given finance is 3.5%
  • Minimum salary requirement is AED 8,000
  • The reducing rate and the flat rate is 6.54% and 3.5%. 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 1,000,000 that Standard Chartered 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 Standard Chartered 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 84 months
  • Documentation is simple
  • Loan can be provided upto 100% vehicle price

Frequently Asked Questions

Q. Does Standard Chartered Bank ask for any additional collateral while applying for the loan?

A. No, Standard Chartered Bank does not ask for any additional collateral or guarantors while applying for car 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.Can I get a loan if I’ve been declared bankrupt in past?

A. Yes, you can get loan if have been declared bankrupt in past but you may be charged higher rate of interest because the lender may evaluate you as being at a greater risk of not keeping up with repayments.

Q.What is the tenure for used car loan is Standard Chartered Bank?

A. Tenure for used car loans in Standard Chartered Bank is up to 84 months.

Q. How much car loan will I be eligible for in Standard Chartered Bank?

A. For the given finance you can 100% of the car value as loan amount.

Standard Chartered

A leading international banking group, with a rich history of over 150 years, Standard Chartered Bank (SCB) has been present in the UAE since 1958. SCB offers a range of products under Islamic and Conventional banking and is one of the leading financial institutions in UAE. Their main objective is ‘to offer outstanding value to customers and clients by providing a knowledgeable, efficient and reliable service in a personal, helpful and responsive manner’.

Corporate Values of the Standard Chartered Bank:

  • Knowledge
  • Efficiency
  • Reliability in Service
  • Personal Approach
  • Helpful and Responsive Mannerisms