| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Noor Bank Auto Finance
|
Minimum Salary: AED 8,000 | Salary Transfer: No | Early Settlement Fees: 1% | Maximum Term: 5 Years | Flat Rate: 2.64% | Reducing Rate: 4.8% |
Types
- New Vehicle Finance: For brand new vehicles, directly from showrooms
- Used Vehicle Finance: For great deals on used cars, from dealers or previous owners
- Personalised service
- Pre-approval within an hour.
- Profit rate from as low as 2.64% flat.
- Financing facility up to AED 750,000.
- Maximum tenor of up to 5 years
- Wide range of vehicles financed
- Salaried and Self employed customers are eligible
- Terms and conditions apply
** 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
