| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Emirates Money Commercial Vehicles Loan
|
Minimum Revenue: AED 360,000 | Maximum Loan Amount: AED 7,000,000 | Equity Required: Yes | Maximum Term: 4 Years | Flat Rate: 4.44% | Reducing Rate: 8.0% |
Features:
• Funding up to 90% • Flexible finance scheme for both new & used vehicles • Attractive interest rates • Extend loans to first time buyers as well as fleet operators • Insurance funding
Documents Required:
• Last 6 months (>250,000) of bank statements and Audited Financials (=> 1 MN) • Passport copy with valid Visa page of Business Owner / Director / Partner • List of vehicle fleet currently being used by the company • Copy of Trade License & Memorandum of Association • Power of Attorney
• Funding up to 90% • Flexible finance scheme for both new & used vehicles • Attractive interest rates • Extend loans to first time buyers as well as fleet operators • Insurance funding
Documents Required:
• Last 6 months (>250,000) of bank statements and Audited Financials (=> 1 MN) • Passport copy with valid Visa page of Business Owner / Director / Partner • List of vehicle fleet currently being used by the company • Copy of Trade License & Memorandum of Association • Power of Attorney
** 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
