Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Emirates Money New & Used Car Loan Emirates Money New & Used Car Loan Minimum Salary: AED 5,000 Salary Transfer: Yes Early Settlement Fees: 1% Maximum Term: 0 Years Flat Rate: 4.44% Reducing Rate: 8.0%
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Product Features:
  • Finance up to AED 750,000
  • Borrow up to 80% of the value of the car
  • Available for Expatriate & UAE Nationals
  • Repayment upto 60 months
  • No salary transfer required
 

Documents Required:
  • Salary slip for salaried individual
  • Last 3 / 6 months of bank statements
  • Passport copy with Visa page
  • Labor Card
  • Valid Driving License
  • Additional Documents for Company / Self-employed:
  • Copy of Trade License & Memorandum of Association
  • Power of Attorney
** 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
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Emirates Islamic - Auto Finance
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Mashreq Car Loan
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