|Minimum Salary||Salary Transfer||Early Settlement Fees||Maximum Term||Flat Rate||Reducing Rate|
|United Arab Bank - Auto Loan||Minimum Salary: AED 7,500||Salary Transfer: Yes||Early Settlement Fees: -||Maximum Term: 5 Years||Flat Rate: 2.99%||Reducing Rate: 5.38%|
UAB Auto Loan will get you your dream car as quickly and conveniently as possible with minimum formalities and flexible repayment periods. UAB Auto Loan Features:
- AED 500,000 is the maximum loan amount.
- 60-months maximum tenor.
- No salary transfer required.
- Competitive Pricing.
- 2.99% flat rate (5.38% on reducing balance).
- Processing fee is 1% of the loan amount, with maximum AED 2500
- Early settlement fees are 1%
- Visa and passport copy
- Salary certificate
- Appointment letter
- Salary should be minimum AED 7500
- Minimum 6 months employment with the company
- Minimum age of 21 years
** 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.