Abu Dhabi Islamic Bank (ADIB) offers competitive car financing options designed to cater to both low-value and high-value car purchases. This Sharia-compliant finance solution comes with flexible repayment terms and attractive interest rates, making it an ideal choice for those looking to finance their vehicle purchase.
Features & Benefits:
- Repayment Period: Up to 60 months.
- Interest Rate: 2.59% flat rate.
- Minimum Salary Requirement: AED 5,000.
- Reducing Rate and Flat Rate: 4.7% reducing rate and 2.59% flat rate (computed as reducing rate divided by 1.814).
- No Salary Transfer Required: Convenient for applicants.
- Maximum Loan Amount: Up to AED 1,000,000.
- Early Settlement Fee: 1% of the finance amount.
- Processing Fee: AED 1,000.
- Down Payment: 20% of the car price.
- Finance Percentage: Up to 80% of the car price.
- Quick Approvals: Fast processing and approval.
- Simple Documentation: Minimal paperwork required.
- Free ADIB Visa Cashback Card: For the first year.
- Low Contribution Amount: For vehicles from Abu Dhabi National Takaful.
Additional Benefits:
- High Finance Amount: Up to AED 1,000,000.
- Low Minimum Salary Requirement: AED 5,000.
- Sharia-Compliant: Adheres to Islamic finance principles.
- Long Repayment Period: Up to 60 months.
- Convenient Application: One signature application.
- Attractive Rates: As low as 2.59% on new cars.
- No Salary Transfer Requirement: Adds convenience for the applicant.
Required Documents:
- Original and Copy of Valid Passport: With valid residence visa for expatriates.
- Original and Copy of Valid Emirates ID.
- Bank Account Statement: Last 3 months.
