|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|SCB - Saadiq Auto Finance||Minimum Salary: AED 20,000||Salary Transfer: No||Early Settlement Fees: -||Maximum Term: 5 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
Saadiq auto finance follows the Islamic concept of Murabaha offering competitive profit rates and flexible payment periods.
- Approved by an independent Shariah Supervisory Committee, so you can bank worry-free while complying with Islamic Banking principles
- Finance up to AED 1,000,000, depending on your monthly income
- Pay your Auto Finance in easy monthly payments spread over up to 60 months
- Choose a car from any of the dealerships located in the UAE
- Simple Financing Procedure
- Convenient banking
- Banking online or on the go
- Fast processing
- No minimum balance
- Passport, UAE Residency Visa and valid Emirates ID (original)
- Salary Certificate
- 3-month Bank Statement
** 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.