Arab Bank Auto Loan
Minimum Salary
AED 0
Monthly Payment
AED 0
Down Payment
20%
Flat Rate
3.99%

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Auto Finance Features

  • Interest Rates: Starting from 2.49%.
  • Repayment Tenure: Flexible up to 5 years.
  • Loan Amount: High financing limits available.
  • Down Payments: Flexible options for your convenience.
  • Insurance: Preferential rates on insurance.
  • Processing Time: Quick and efficient.
  • Dedicated Sales Team: Available to assist you at your convenience.

Required Documents

  1. Identification: Valid national ID and passport with valid resident visa (for residents).
  2. Proof of Residence: Recent utility bill (e.g., electricity, telephone) or rental contract.
  3. Income Verification: Latest salary/income/employment verification document.
  4. Vehicle Quotation: Dealer price quotation.
  5. Bank Statements: Recent 6 months.
  6. Vehicle Status Certificate: Certificate from an approved Arab Bank evaluator (for used cars only), stating the vehicle’s status and market price/value.
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.

Arab Bank Auto Loan
Minimum Salary
7000
Flat Rate
3.99%
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