Ajman Bank – 50 – 50 FINANCE
Minimum Salary
AED 0
Monthly Payment
AED 0
Down Payment
50%
Flat Rate
-%

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Benefits:

  • Finance Amount: Up to AED 500,000.
  • Available for New and Used Cars: Financing options for both types.
  • Customer Contribution: 50% of the car value paid upfront to the dealer.
  • Simple Documentation: Minimal paperwork required.
  • No Car Restrictions: Flexible options for different vehicle types.
  • Processing Fees: AED 500.

Required Documents:

  • Completed Application Form: Duly filled and signed.
  • Identification Documents: Valid passport, Khulasat al Khaim, valid visa, or UAE National ID.
  • Bank Statement: 1 month bank statement.
  • Labour Card Copy: For employment verification.
  • Salary Certificate: To confirm income.
  • Trade License Copy: For self-employed individuals.
  • Car Quotation/Evaluation: Quotation from a franchise dealer or evaluation from an approved evaluator.
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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