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Simplylife - Car Loan from ADCB
Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
Simplylife - Car Loan from ADCB Simplylife - Car Loan from ADCB Minimum Salary: AED 5,000 Salary Transfer: Yes Early Settlement Fees: 1% Maximum Term: 5 Years Flat Rate: 3.19% Reducing Rate: 5.99%
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Simplylife Car Loan from ADCB Features:
  • Simple Eligibility
  • Faster processing
  • No extra fees for early settlement of loans from own funds.
  • Wide range of car loans, including for used cars, fleet and rent-a-car finance
  • Finance of up to 80% of the car value
  • Borrow up to AED 1,500,000
  • Repay in up to 60 months
  • Avail assistance with insurance finance
  • Business owners can finance fleet deals and car rentals
Eligibility:
  • Minimum salary requirement starts from AED 5000
  • Age: Starting 21 years & 60 years at completion
  • Minimum loan amount is AED 10,000 & it can go up to AED 1,500,000
Documents Required:
  • Simplylife Loan Application Form
  • Current dated salary certificate as per Simplylife Format
  • Passport copy, Visa copy (for expats), Emirates ID
  • Last 3 months Bank Statements
  • Your family deserves the best, and so do you. Start enjoying long weekend drives with the kids. Make your weekday commute safer. With Simplylife Car Loan, you can now upgrade to a bigger and more comfortable car.
  • Simplylife Car Loan offers competitive rates and simple terms. They will help you with insurance finance.
** 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
ADCB Islamic Banking - Car Finance
Minimum Salary
AED 5,000
Flat Rate
2.49%