Commercial Bank International - Used Car Loan

Commercial Bank International - Used Car Loan

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Benefits:
• Repayment period is up to 48 months
• The interest rate for the given finance is 3%
• Minimum salary requirement is AED 5,000
• The reducing rate and the flat rate is 5.44% and 3%. This denotes that the computation done was a division of the reduction rate by 1.815
• No salary transfer is required
• The maximum loan amount is AED 500,000 that CBI bank can provide
• Early settlement fee is 1% of the finance amount
• The processing fee is AED 2500
• About 20% down payment is required for this finance
• 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 48 months
• Approval is quick
• Documentation is simple Required Documents:
• A Valid passport for UAE Nationals
• A valid passport and UAE resident’s Visa for expatriates
• Valid Emirates ID
• Valid UAE driving license
• Your last three month’s bank statements
• Salary Certificate
• Dealer quotation (new car)
• Dealer valuation (used car)

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

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