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United Arab Bank Used Auto Loan

United Arab Bank Bank

Used Auto Loan

Minimum Salary

AED 6K

Flat Rate

5%

Reducing Rate

9.07%

Loan Amount

AED 500K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

20%

minimum salary

AED 6K

Minimum Salary

flat rate

5%

Flat Rate

reducing rate

9.07%

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

View details on bank page

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 5%
  • Minimum salary requirement is AED 6,000
  • The reducing rate and the flat rate is 9.07% and 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 500,000 that United 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 is provided by United Arab 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
  • 80% vehicle value can be financed by United Arab Bank
  • Documentation is simple

Frequently Asked Questions

⭐What is the loan scenario for used cars?

A. Interest rates for used cars may be higher than new cars apart from that most of the charges remain same.

⭐ Why do we have to put down payment for car loan?

A. Down payment gives security and shows your dedication towards bank.

⭐ 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 United Arab bank.

⭐What is the length of service required to apply for car loan in United Arab Bank?

A. Length of service required to apply for car loan in United Arab Bank is 6 months or confirmed employment.

⭐ Should I get auto finance from a dealer or a bank?

A. You should get a loan wherever you find a better deal and suits your requirements.

United Arab

Headquartered in Sharjah, with over 25 branches across the UAE, United Arab Bank, P.J.S.C. (UAB), which was incorporated in 1975, has established itself as a leading banking services provider in the UAE. UAB has a Vision ‘of being the trusted partner and the UAE bank of choice for customers’ and a Mission of ‘offering a superior customer experience, creating shareholder value, and adopting an innovative banking approach while remaining loyal to the nation's heritage and contributing to the overall development of the UAE.’ UAB follows the values of :

  • Integrity
  • Customer Focus
  • Competence
  • Consistency
  • Courteousness

   Get in touch with United Arab Bank Customer Care