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Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
ADIB - New Car Finance - Murabaha ADIB - New Car Finance - Murabaha Minimum Salary: AED 5,000 Salary Transfer: No Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 2.59% Reducing Rate: 4.7%
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Whether you are looking for a low value or high value car at competitive rates, Abu Dhabi Islamic Bank offers car financing with up to 60 months payment options. 

Features and benefits: 
  • Highly competitive profit rates
  • Quick approval process
  • No salary transfer required
  • Repayment period of up to 60 months
  • The flat rate of this finance is 2.59% and the equivalent rate in reducing balance is 4.7%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only.
For ADIB salary transfer customers: 
  • When salary is between AED 3,000 to AED 4,999 the rate starts at 4.99%
  • When salary is between AED 5,000 to AED 9,999 the rate starts at 2.99%
  • When salary is between AED 10,000 to AED 19,999 rate starts at 2.75%
  • When salary is above AED 20,000 the rate starts at 2.59%. 
For non-salary transfer customers: 
  • When salary is between AED 5,000 to AED 9,999 the rate starts at 3.99%
  • When salary is between AED 10,000 to AED 19,999 rate starts at 2.99%
  • When salary is above AED 20,000 the rate starts at 2.75% 
  • For all self employed customers, the rate starts at 3.25%
Required Documents:
  • ​Original and copy of valid passport (with valid residence visa for expatriates)
  • Original and copy of valid Emirates ID
  • Bank account statement (last 3 months)​​​​​​​
** 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 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
Emirates Islamic - Auto Finance
Minimum Salary
AED 5,000
Flat Rate
2.35%
RAKBANK - RAK Auto Loan
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AED 5,000
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1.99%
HSBC - Car Loan
Minimum Salary
AED 20,000
Flat Rate
2.49%
ADCB Islamic Banking - Car Finance
Minimum Salary
AED 5,000
Flat Rate
2.49%