| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Al-Mawarid Bank - New Car Loan
|
Minimum Salary: USD 0 | Salary Transfer: Yes | Early Settlement Fees: - | Maximum Term: 6 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
AL-MAWARID Bank knows that mobility and comfort don’t always come easy. But with our car loans, for new or used cars, you can now get the car of your dreams. Get fast behind the wheels thanks to our flexible terms and low interest rates.
** 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.
Representative Example Calculator
