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ADIB Used Car Finance Murabaha

ADIB Used Car Finance Murabaha
Minimum Salary

5,000 AED

Flat Rate

2.79 %

Reducing Rate

5.26%

Max. Term

5 Years

Salary Transfer

No

Islamic Finance

Yes

Description

Are you looking for your dream Car? ADIB Bank can provide your competitive profit rates and quick approvals for both New and Used Cars. 

Features

Processing Fees: 1% of the finance value (Min AED 500, Max AED 2,500)

Minimum Salary Requirement: 

  • For salary transfer customer:  AED 5,000
  • For non-salary transfer customers:  AED 8000

 

Profit Rate (Flat Rate):  

  • For salary transfer customer: 2.79%
  • For non-salary transfer customers: 2.99%

 

Down Payment Required:

  • For all Customer: 20% 

 

Repayment Period: 5 Years

Early Settlement Fees: 1% of outstanding amount (Max cap AED 10,000)

Sharia Compliant: Yes

Salary Transfer Required: Not Required

Maximum Finance Amount:

  • For UAE National: Max finance amount is AED 1,000,000
  • For Expats: Max finance amount is AED 500,000
Documents Required
  • Valid Passport, Resident Visa and Emirates ID Copy.
  • Salary Certificate
  • Three months Pay slips (if there is variance in Salary).
  • Latest 3 Months Bank Statement (if salary credited to other bank).
  • Valid UAE Driver License
Additional Info
  • All info mentioned can change at any point in time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Flat rate is converted into reducing rate as per 5 years calculation.
  • Terms and conditions apply.
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