Saadiq auto finance follows the Islamic concept of Murabaha offering competitive profit rates and flexible payment periods.
Benefits:
• Approved by an independent Shariah Supervisory Committee, so you can bank worry-free while complying with Islamic Banking principles
• Finance up to AED 1,000,000, depending on your monthly income
• Pay your Auto Finance in easy monthly payments spread over up to 60 months
• Choose a car from any of the dealerships located in the UAE
• Simple Financing Procedure
• Convenient banking
• Banking online or on the go
• Fast processing
• No minimum balance
Eligibility:
• Minimum Salary: AED 20,000 per month
• Minimum Age is 21 years and Maximum Age is 65 years or company retirement age at finance maturity whichever is lower. Proof of Retirement age in company required for any case where age 60 years at the time of finance maturity
Required Documents:
• Passport, UAE Residency Visa and valid Emirates ID (original)
• Salary Certificate
• 3-month Bank Statement
Business vehicle finance
No
Only for listed companies
No
Down Payment
0%
Heavy vehicle finance
No
Insurance/takaful
No
Max. finance amount
AED 1,000,000
Maximum Tenure
5 Years
Minimum Salary
AED 20000
Auto type
New Cars
Fixed rate
0.00%
Settlement Fee
No
Processing Fee
No
Working Status
Employed
Reducing rate
0.00%
Salary Transfer
No
Monthly Payment
AED No
1. 15% on total bill up to AED 500 2. 20% on total bill above AED 501
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