Dubai Islamic Bank Car Finance product enables customers to take ownership of their own vehicle using their Dubai Islamic Bank Car Finance product. This allows customers to quickly apply and purchase their vehicle using this flexible product. Using the Musharaka cum Ijara model, financing is simple and affordable for customers.
When compared to other banks, customers can benefit from low Takaful rates that are competitive and make this a product that is fully affordable. Payments are made on a monthly basis and because it can be paid over as much as seven years or as little as one year, making it easier to manage for all customers. The financing amount is based on a down payment of 15% and that comes with a competitive minimum and maximum financing amount. Dubai Islamic Bank Car Finance is the ideal product for both new, used and imported vehicle with vehicles up to the age of 9 years being available as part of this product. All products are Shari’a compliant and that means that all transaction are Riba free.
Eligibility for Dubai Islamic Bank Car Loan
Dubai Islamic Bank Car Finance product is a flexible product that is suitable for a number of people. It is the perfect option for both salaried and self-employed individuals. It is suitable for salaried individuals aged between 21 and 60 years old while those who are self-employed professional or businessmen, they will need to be between the age of 21 and 65 years of age. All applicants will be required to have a minimum income and those who are salaried must have been in employment for a minimum of 3 months. Those who are self-employed professionals will need to be working their role for a minimum of six months while self-employed businessmen will be expected to have a minimum of 12 months.