| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Emirates NBD - Auto Loan For Used Cars
|
Minimum Salary: AED 4,000 | Salary Transfer: No | Early Settlement Fees: 1% | Maximum Term: 5 Years | Flat Rate: 2.99% | Reducing Rate: - |
Interest Rate
Salaried - 2.99% to 3.99%.
Self Employed - 3.49% to 3.99%.
Minimum Salary Required
AED 4,000 for ENBD Approved companies and AED 5,000 for Non-Listed companies.
Vehicle Age
Max Vehicle Age at Maturity of the Loan is 12 Years.
** 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
