Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
SIB Car Finance SIB Car Finance Minimum Salary: AED 8,000 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: Years Flat Rate: 2.99% Reducing Rate: 5.38%
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Riding your dream car is a fantasy? SIB offers Car finance with no hidden cost or unexpected fees, based on Murabaha concept. The rapid service, processes & approvals makes  finance easier to acquire

Features:
  • Available for new and used cars
  • Long and flexible repayment periods
  • Islamic insurance financing available
  • Competitive rates
Documentation required:
  • Original passport & UAE National ID
  • Valid UAE residence visa for expatriates
  • Employment and/or Labor Card (father / husband sponsored clients)
  • Valid Residence Visa (Expatriates)
  • Salary Certificate
  • Security Cheque (with car amount) & Valid Driving License
 
** 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.
Representative Example Calculator
ADCB - Car Loan
Minimum Salary
AED 5,000
Flat Rate
2.49%
Noor Bank Auto Finance
Minimum Salary
AED 5,000
Flat Rate
2.49%
Emirates NBD - Feature Packed Auto Loans
Minimum Salary
AED 10,000
Flat Rate
2.49%
HSBC - Car Loan
Minimum Salary
AED 20,000
Flat Rate
2.49%