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Car Loan Provided By Emirates Islamic
Features of Emirates Islamic Car Loan
- High Finance Amounts - Up to AED 500,000
- Highly competitive profit rates
- Flexible modes of repayment
- No compulsory transfer needed
- Shari'ah compliant finance
- Easy processing and documentation
- Free Islamic Emirates Bank Current Account
Eligibility Criteria of Emirates Islamic Car Loan
- Minimum Age: 21 years
- Maximum Age(On maturity): 65 years (60 years for expatriates)
Documents Required of Emirates Islamic Car Loan
- Copy of a valid Emirates ID/Khulasat Al Qaid (For UAE Nationals)
- Copy of valid passport with residence visa (For expatriates)
- Past 3 months of active bank account statements
- Comprehensive Islamic vehicle insurance
- Post-dated cheques (if possible)
- Quotation of price from the seller
For used cars:
- Valuation certificate from a certified authority
- Title of ownership
- Quotation of offer from current owner
Note: The bank may need more documents and may ask for it, if required.
Emirates Islamic Car Loan Profit Rates
4 Emirates Islamic Bank Car Loans
Used Auto Finance for Individuals
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
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
Auto Finance for Individuals
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.29%
- Minimum salary requirement is AED 4,000
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.29%
- Minimum salary requirement is AED 4,000
- The reducing rate and the flat rate is 4.20% and 2.29%.
- 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
- Documentation is simple
- Free current account in emirates Islamic bank
- Minimum salary requirement is low
New Auto Finance for Self Employed
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.19%
- Minimum salary requirement is AED 20,000
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.19%
- Minimum salary requirement is AED 20,000
- The reducing rate and the flat rate is 5.84% and 3.19%.
- No salary transfer is required
- Maximum loan amount is AED 750,000 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 and 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
Used Auto Finance for Self Employed
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.80%
- Minimum salary requirement is AED 20,000
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.80%
- Minimum salary requirement is AED 20,000
- The reducing rate and the flat rate is 6.96% and 3.80%.
- No salary transfer is required
- Maximum loan amount is AED 750,000 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
- Documentation is simple
- Free current account in emirates Islamic bank
- Minimum salary requirement is low
About 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 Bank Customer Care