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Arab Bank Used Auto Loan
Used Auto Loan
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.99%
- Minimum salary requirement is AED 7,500
- The reducing rate and the flat rate is 7.23% and 3.99%. 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 250,000 that Arab 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 and low minimum salary requirement is there for given finance
- Approval is quick
- Documentation is simple
- Minimum salary requirement is low
- Registration of the vehicle will be given on third party name
- Finance up to 80% of the car price
- Our dedicated sales team is ready to serve you
- Favourable interest rates
Frequently Asked Questions
⭐ What if I default in paying car loan on time?
A. If you miss one installment then bank can ignore but if you miss anything more than that will affect your credit history.
⭐ Can my friend become a co-borrower of my car loan?
A. Arab bank does not allow co-borrowing between friends.
⭐ Before applying for car loan, should I find a car?
A. No, it is suggest to apply for loan first then search for car. This way you don’t exceed your loan amount while buying a car.
⭐ What is the minimum qualification to apply for a car loan in Arab bank?
A. You need to have valid driver license and good credit score to apply for car loan in Arab bank.
⭐ Will I be charged for application of car loan?
A. No, Arab bank does not charge for application form.
Arab
With over 600 branches across five continents, Arab Bank is the largest global bank in UAE. It is headquartered in Amman, Jordan. Arab Bank is also present in key financial markets and centers such as London, Dubai, Singapore, Geneva, Paris, Frankfurt, Sydney, and Bahrain. The bank operates on the following pillars of values:
- Trust
- Commitment
- Corporate responsibility
- Service Excellence
- Customer Focus
- Empowerment
- Teamwork
- Transparency.
Get in touch with Arab Bank Customer Care