Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
FAB - Islamic Car Finance For Expatriates FAB - Islamic Car Finance For Expatriates Minimum Salary: AED 7,000 Salary Transfer: Yes Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 2.15% Reducing Rate: 4.09%
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Features

Offer for Expatriates

  • Competitive profit rates as low as 2.15% (equivalent to a reducing rate of 4.09%) per year
  • Finance of up to AED 1.5 million or 80% of the car’s value
  • Finance available for new and used vehicles
  • Offer valid for salaried individuals

Required documents

  • Vehicle quotation
  • UAE driving license
  • Bank statements (where applicable)
  • Salary certificate addressed to FAB Islamic (where applicable)
  • Murabaha request form completed and signed by the customer
  • Copy of a valid passport/residence visa/Emirates ID (originals must also be presented)

Note: Additional documents may be required on a case-by-case basis

** 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
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