ADIB – Used Car Finance – Murabaha
Minimum Salary
AED 0
Monthly Payment
AED 0
Down Payment
20%
Flat Rate
3.25%

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Features and Benefits:

  • Highly Competitive Profit Rates: Attractive profit rates tailored to meet your financial needs.
  • Quick Approval Process: Efficient processing and approval for swift financing.
  • No Salary Transfer Required: Offers flexibility in financing.
  • Repayment Period: Up to 60 months, providing ample time to repay.
  • Profit Rates:
    • Flat rate of 3.09%.
    • Equivalent reducing balance rate of 5.61% (calculated by multiplying the flat rate by 1.814, indicative only).
  • Vehicle Eligibility: Financing available for cars as old as the 2008 model year.

Special Rates for ADIB Salary Transfer Customers:

  • Salary Below AED 20,000:
    • 3.25% for Salary Transfer Loan (STL).
    • 3.49% for Post-Dated Cheque (PDC).
  • Salary Between AED 20,000 to AED 49,999:
    • 2.99% for STL.
    • 3.25% for PDC.
  • Salary Above AED 50,000:
    • 2.79% for both STL and PDC.
Calculator Terminology

Principal Amount: The initial amount of money borrowed.

Annual Interest Rate (%): The yearly interest rate applied to the loan or credit product, also known as APR in this context.

Loan Term (Years): The original duration of the loan or credit agreement, stated in years.

Effective Monthly Payment: The total monthly payment that accounts for all fees and associated costs related to the product.

Calculated Annual Percentage Rate (APR): The APR is computed using the annual interest rate along with fees and other expenses. It serves as a standardized measure for comparing the overall cost of different products with varying interest rates and fee structures across different financial institutions.

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