|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|Emirates NBD - Auto Lease||Minimum Salary: SAR 8,000||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 5 Years||Flat Rate: 2.75%||Reducing Rate: 4.95%|
Emirates NBD Auto Lease Features:
- Without Salary Transfer, or grantor
- Easy Monthly Installments
- Comprehensive insurance coverage
- Extended Warranty up to 5 years, or 200,000 klm. (whichever comes first)
- Leasing period from 12 moths minimum up to 60 months maximum
- Option of transferring the lease contract to another customer
- Minimum income is SR 8,000 for salaried customers and SR 20,000 for Self Employed Customers
- Applicant must be currently working in one of the private companies, or government sectors
- Offered to Saudis, and Non Saudis
- Applicant’s age must not be less than 21 years upon applying, and no more than 60 years at the time of final installment. (For self-employed not less than 24 years, and not more than 65 years)
- Minimum Years on job is 3 months
- Valid National ID / Iqama
- Valid Saudi Driving license
- Salary certificate issued by current employer
- Three months bank statement (for non-payroll customers)
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.