Best Buy Tables - UAE Best Buy Tables - UAE

Car Loans UAE

PROVIDER PRODUCT INTEREST/PROFIT RATE MAX. LOAN AMOUNT (AED) DOWNPAYMENT PAYMENT TERMS MIN. SALARY (AED) SALARY CONDITIONS/RESTRICTIONS ACCOUNT EARLY REDEMPTION PENALTIES VALUE ADDED OTHER CONTACT
TRANSFER NECESSARY

Abu Dhabi Commercial Car Loan 4.99% Depends on type of car Depends on type of car 60 months 5,000 No Used cars must be 2002 model or newer Yes 3% of outstanding loan for cash and Free ADCB credit card, free roadside Minimum of AED350 charged as processing fee Toll-free: 800 2030
Bank 5% for bank transfer assistance for ADCB credit card holders, www.adcb.com
insurance finance option

Abu Dhabi Islamic Bank Sahel Murabaha Profit rate - 5.5% for new cars, 6.25% for used cars Up to 350,000 (depends Depends on type of car New cars: up to 60 months 4,000 No Used cars must be 2005 model or newer, No None 90 days grace period for first installment, up No processing fee Toll-free: 800 2288
on salary) Used cars: up to 48 months for German and Japanese cars to two postponements per year. Insurance www.adib.ae
2003 model onwards can be financed. With salary transfer, free
Islamic Visa card and family welfare plan.

Bank of Baroda Car Loan New/Used cars: 10%, reducing balance basis New cars: up to 90% 10 - 30% New cars: up to 48 months 4,000 Yes Used cars must be 2006 model or newer No 1% of outstanding loan 1% processing fee 04 354 0340
Used cars: up to 70% Used cars: up to 36 months www.bankofbarodauae.ae

Dubai Bank Markaba Auto 4.75 - 5% for new cars (Depends on the dealer) Up to 250,000 Depends on car Up to 60 months 8,000+ No Along with the usual documents, copy of ID freezone No Nil Islamic Takaful insurance offered No processing fee Toll-free: 800 5555
Finance and quotation of the vehicle. Used cars must be less www.dubaibank.ae
than 8 years old. Subject to bank approval

Emirates Islamic Bank Intaleq New cars: with salary transfer 4.8%, otherwise 5.35% Up to 250,000 New cars: with salary transfer - Nil, Up to 48 months With salary transfer No Post dated cheques required along with usual No Nil Free EIB account No processing fee 04 316 0101
Used cars: with salary transfer 5.5%, otherwise 5.75% otherwise 20% - 7,500 otherwise documents. Used cars must be 10 years old or www.emiratesislamicbank.ae
Used cars: with salary transfer 10,000 newer
- 10%, otherwise 25%

Emirates-NBD Car Loan New cars: 5.50% Depends on salary 10% New cars: with salary transfer 72 With salary transfer No Depends on the model of the car and the company No 4% of the outstanding loan amount. 100% finance for the first year. Fully 1% processing fee Toll-free: 800-4444
Used cars: 6.50% months, otherwise 60 months - 7,000 otherwise should be listed. Used car must be at least 4 comprehensive auto insurance (3.95%) www.nbd.com
Used cars: 24 to 60 months (depending 10,000 years old
on age of car)

Mashreqbank Mashreq Auto loan New cars: 5.49% Up to 500,000 Nil downpayment option. 48 - 60 months 5,000 for account No Used cars must be less than 8 years old at loan No 2.5% of outstanding loan for cash, Free credit card for the first years, insurance AED250 charged as processing fee 04 424 4444
Used cars: 5.99% holders, otherwise 9,000 maturity 5% for bank transfer finance option, free AAA membership for www.mashreqbank.com
roadside assistance.

National Bank of Abu Sayyarati New cars: 5.5% Up to AED200,000 10-15% New cars: up to 60 months 7,000 for account holders, No 3 months in service is required for expats. Used cars No 2% outstanding value of the loan for 100% insurance financed, 60 days grace 0.50% of loan amount or minimum AED250 charged as processing fee Toll-free: 800-2211
Dhabi Used cars: 6% Used cars: up to 48 months otherwise 10,000 must not be older than 4 years cash, 5% for bank buyout period, free for life credit card www.nbad.com

Noor Islamic Bank Noor Drive 5.5% Up to 500,000 10% Up to 60 months 7,000 No No None Toll-free: 800 NOOR
Finance available for new cars only. www.noorbank.com

RAKBANK Auto Loan New cars: 5.25% Up to 250,000 Nil. Sports cars - 30% Up to 60 months 4,000 for account holders, No No 5% of the outstanding loan amount. Free RAKBANK credit card, insurance No processing fee 04 213 000
Used cars: 6.25% otherwise 10,000 www.rakbank.ae

MONEYworks I May 2009 May 2009 I MONEYworks