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Emirates Islamic Used Auto Finance for Individuals

Emirates Islamic Bank

Used Auto Finance for Individuals

Minimum Salary

AED 4K

Flat Rate

2.99%

Reducing Rate

5.48%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 4K

Minimum Salary

flat rate

2.99%

Flat Rate

reducing rate

5.48%

Reducing Rate

max finance

AED 1000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

20%

Down Payment

View details on bank page

Features

  • Repayment period is up to 60 months
  • The interest rate for the given finance is 2.99%
  • Minimum salary requirement is AED 4,000
  • The reducing rate and the flat rate is 5.48% and 2.99%.
  • No salary transfer is required
  • Maximum loan amount is AED 1,000,000 that Emirates Islamic 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
  • 30 minutes approval
  • Documentation is simple
  • Free current account in emirates Islamic bank
  • Minimum salary requirement is low

Frequently Asked Questions

⭐ Should I select car first before applying for car loan?

A. No, it is suggested to apply for loan first and then keeping budget in mind, select your dream car.

⭐ Should I refinance my current car loan?

A. You’ll be charged with lower interest rates, if you refinance your current car loan.

⭐ What if my loan application gets rejected. Can I apply for it again?

A. Yes, as long as you don’t have same circumstances as you had when your application got rejected, you can still apply for loan in Emirates Islamic bank.

⭐ Does Emirates Islamic bank offers facility of joint loan?

A. Yes, to increase your eligibility you can avail facility of joint loan in Emirates Islamic bank.

⭐ How are the rate of interest decided for a given loan?

A. Rate of interest is decided on the basis of customer’s credit history.

Emirates Islamic

In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.

   Get in touch with Emirates Islamic Customer Care