Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Dubai Islamic Bank - Al Islami Used Car Finance Dubai Islamic Bank - Al Islami Used Car Finance Minimum Salary: AED 3,000 Salary Transfer: Yes Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 2.75% Reducing Rate: 5.19%
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Features & Benefits:
  • Financing amount of up to 80% of your car value
  • Starting salary AED 3,000 per month
  • Tenure of up to 60 months
  • Available for new and used cars
  • Salary Transfer not required
Fees & Charges:
  • Arrangement Fee: AED 2,500
  • The early settlement fee is 1% of remaining balance
Documents Required:

 
  • 3 months bank statements
  • Salary certificate / slip
  • Passport / Khulasat al Khaid copy
  • Valid Visa (Expatriate Customers)
  • Emirates ID card
  • Dealer evaluation of the vehicle being purchased
 

 
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
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