|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|Ajman Bank - Secured Auto Finance||Minimum Salary: AED 0||Salary Transfer: No||Early Settlement Fees: -||Maximum Term: 0 Years||Flat Rate: -||Reducing Rate: -|
With this offer, the customer can enjoy getting an Auto Finance receiving his returns from his Wakala (Fixed Deposit) and buy his car with lower profit rate and no documentation.
- Maximum Finance amount up to AED 1,000,000
- No Mortgage required
- No Bank Statements required
- No restrictions on Nationality
- Extremely Low discounted profit rates
- Duly completed and a signed application form
- Valid passport/Khulasat al Khaid Copy/Valid visa/UAE National ID
- Lien formed signed by the customer to pledge the Wakala against the finance
- Wakala amount needs to be equal to 110% of the finance amount.
- Car Quotation from a franchise dealer or Evaluation from an approved evaluator
** 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.