Car Loan

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Vehicle TypeCar
Loan TypePersonal
Loan Tenor60 months
Interest Rate10.00% reducing (Starting from 10% up to 15% per annum, calculated on reducing balance, fixed for the duration of the loan.)
Flat Interest Rate6.44% (Equivalent flat rate derived from the representative example: 12% APR corresponds to 6.44% flat rate.)
Processing Fee1.00% (1% of the loan amount (min AED 500, max AED 2,500, exclusive of VAT).)
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Features

Loan available for brand-new cars only. Loan repaid through fixed Equated Monthly Instalments (EMI). Vehicles remain mortgaged until loan repayment is completed.

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