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Car Loan Provided By Sharjah Islamic
Features of Sharjah Islamic Car Loan
- Available for new as well as used cars
- Long and flexible repayment tenures
- Takaful Islamic insurance available
- Competitive profit rates
- Hassle free approvals and procedures
- High Loan Amounts
Documents Required of Sharjah Islamic Car Loan
- Valid Emirates ID (For UAE Nationals)
- Residential Visa with valid passport (For Expatriates)
- Valid UAE driving license
- Salary certificate (For salaried)
- Trade License / Memorandum of Association (For Self-Employed)
- Active bank account statements
- Quotation from the Seller
- Approval certificate from any relevant govt. approved agency
Note: More documentation may be required to be done. Approvals are solely at the discretion of Sharjah Islamic Bank.
Sharjah Islamic Car Loan Profit Rates
2 Sharjah Islamic Bank Car Loans
New Car Finance
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.79%
- Minimum salary requirement is AED 6,000
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.79%
- Minimum salary requirement is AED 6,000
- The reducing rate and the flat rate is 5.06% and 2.79%. This denotes that the computation done was a division of the reduction rate by 1.84
- Salary transfer is required
- Maximum loan amount is AED 500,000 that Sharjah 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 Sharjah 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
- Islamic insurance finance is also available
Used Car Finance
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.89%
- Minimum salary requirement is AED 6,000
Features
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.89%
- Minimum salary requirement is AED 6,000
- The reducing rate and the flat rate is 7.06% and 3.89%. This denotes that the computation done was a division of the reduction rate by 1.83
- Salary transfer is required
- Maximum loan amount is AED 500,000 that Sharjah 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 Sharjah 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
- Islamic insurance finance is also available
About Sharjah Islamic
Established in 1975 through an Amiri decree, the bank was initially known as the National Bank of Sharjah. In 2002, the bank was the first bank to convert to Islamic Banking and was renamed as Sharjah Islamic Bank (SIB). SIB has a Vision 'to be the bank of choice, delivering creative customer solutions based on Islamic principles of partnership, trust & equality for all’. The values followed by them are :
- Bonding and Harmony
- Compliance
- Learning and Self Development
- Social Responsibility
- Creativity and Innovation
Get in touch with Sharjah Islamic Bank Customer Care