Ajman Bank – Used Car Loan
Minimum Salary
AED 0
Monthly Payment
AED 0
Down Payment
0%
Flat Rate
3.1%

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Ajman Bank offers auto finance to individuals and corporates through the Islamic principle of Murabaha, ensuring a Shariah-compliant process that delivers your dream vehicle in a quick and easy manner while remaining true to Shariah principles.

Features and Benefits:

  • Most Competitive Rate: Ajman Bank offers highly competitive rates in the market.
  • Eligibility for New & Used Cars: Financing is available for both new and used vehicles.
  • Financing Amount: Up to AED 500,000.
  • Financing Tenure: Flexible repayment options with a tenure of up to 60 months.
  • Salary Transfer: Options available with or without salary transfer.
  • Simple Documentation: Minimal paperwork required for application.
  • Quick Approvals: Efficient processing and approval for swift financing.
  • Special Offer for Affluent Customers: Exotic and luxury car finance options available.
  • Pre-approved Credit Card: All auto finance customers receive a pre-approved credit card.
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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