Arab Bank Auto Loan

Arab Bank Auto Loan

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Buying the car of your dreams could not be easier and more convenient! With Arab Bank Auto Loan you will be in the driver’s seat faster than you can imagine. It is flexible, easy to arrange and offers you a host of benefits. Arab Bank Auto Loan Features:
• Competitive interest rates starting 2.49%
• Convenient repayment tenure up to 5 years
• High Loan amount
• Flexible down payments options
• Preferential insurance rates
• Quick loan processing time
• Dedicated Sales Team - ready to serve you at your convenience
• The processing fee is 1% of the loan amount, with minimum AED 500 and maximum AED 2500
• Down payment is 20%
• Convenient repayment tenure up to 5 years, Quick loan processing time, Preferential insurance rates
• Minimum loan amount- AED 20,000
• Maximum loan amount for new cars - AED 250,000
• Maximum loan amount for used cars - AED 250,000
• Minimum Salary should be AED 7000
• Eligibility criteria is minimum 6 months in service Interest Rate:
• 3.99% - New car 4.25% - Used car 4.25% - 4x4 New car 4.5% - 4x4 Used car Fees and Other Charges:
• Early settlement fees – 1%
• Buyout - 5%
• Rescheduling the loan - AED 250 Documents Required:
• Valid national ID and valid passport with valid Resident visa (for residents)Recent utility bill in the name of the client e.g. electricity, telephone or rental contract
• Latest Salary/Income/Employment verification document
• Dealer price quotation
• Bank statement of 6 months
• A certificate stating vehicle status and market price/value issued from an approved Arab Bank evaluator (for used cars only)

  • Business vehicle finance: No
  • Only for listed companies: No
  • Down Payment: 20%
  • Heavy vehicle finance: No

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