Overview


Al Islami Car Finance from Dubai Islamic Bank is the nation's leader in car financing. In fact, every 3rd car on the road is financed by us. With a range of financing plans and payment options, designed to suit a variety of individual needs, Al Islami Car Finance makes owning your dream car just a signature away.


Features

• Minimum salary of AED 3000
• Financing of up to 60 months
• Competitive profit rate
• Available to salaried, self-employed and corporate companies
• Minimum 20% down payment
• Insurance and service finance
• Finance available for new and used cars
• No salary transfer required
• Balloon Payment option available ( lovver monthly installment)

 

Fees


• Processing fee for Due Deligence and Documentation from AED 600 to AED 1,500
• No objection certificate to Traffic Department - Free
• Replacement of existing PDCs with new PDCs - Free
• Instalment deferment charges – AED 100 per deferment
• Reschedule Murabaha Facility – AED 250

 

Documentation


• 3 months’ Bank Statements
• Salary Certificate
• Passport/Khulasat al Khaid copy
• Valid Visa (Expatriate customers)
• Quotation for vehicle being purchased
• Trade License (in case of Companies/Partnerships/Sole Proprietors)
• Memorandum of Association in case of Companies
• Partnership Agreement in case of Partnerships
• Notarised POA (where applicable for Self-employed)
• Audited Balance Sheet, if finance is above AED 750,000/-
• Standing instructions/Monthly instalment cheques


*Terms & Conditions apply

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