Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Noor Bank Used Auto Finance Noor Bank Used Auto Finance Minimum Salary: AED 8,000 Salary Transfer: No Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 2.99% Reducing Rate: 5.4%
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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
Noor Auto Finance Features:
  • 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 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
Minimum Salary
AED 5,000
Flat Rate
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%