| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Khaleeji Commercial Bank - Auto Finance
|
Minimum Salary: BHD 250 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 7 Years | Flat Rate: 4.3% | Reducing Rate: 7.74% |
KHCB’s Sharia’a compliant Auto financing is easy, affordable and fast with competitive Profit rates. Their flexible financing is available to employees as well as self-employed and available to Bahrainis and expatriate residents.
With KHCB's financing you can be driving your dream car sooner than you think.
Khaleeji Commercial Bank Auto Finance Features:
EMPLOYEES
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
With KHCB's financing you can be driving your dream car sooner than you think.
Khaleeji Commercial Bank Auto Finance Features:
- Minimum salary required is BHD 250
- Maximum loan amount is up to BHD 50,000
EMPLOYEES
- Copy for 2 IDs (with Reader for smart card)
- Original bank statement 6 months.
- Original latest pay slip (in case of overtime latest 3 payslips)
- Original salary certificate
- Quotation from the Car Dealer addressed to KHCB
- Copy for 2 IDs (with Reader for smart card)
- Valid Commercial Registration
- 3 years Audited Financials
- 12 months bank statement (business operating account)
- Memorandum and Article of association
- Quotation from the Car Dealer addressed to KHCB
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
