Emirates Money Loan Against Car

Great For

• Repayment tenure of 48 months.
• High finance amount.

   

   

  

  The Basics

  AED 0

  Minimum Annual Revenue ?

  Reducing Reducing/Flat

  7.7%

  Flat Rate
  (est. equivalent) ?

  14%

  Reducing Rate
  (As Advertised) ?

  1% Arrangement Fee

  AED 250,000 Max Finance Amount

  5%

  Early Settlement Fee

  No Salary Transfer

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  Main Benefits

  Repayment tenure of 48 months, high finance amount.

  Overview of features

  • There is no minimum annual sales turnover requirement for this finance. The finance amount will depend on the age and value of the car as decided by the bank.
  • The reducing rate of this finance is 14% and the equivalent flat rate is 7.7%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only
  • The interest rate starts at 14% per annum based on a reducing balance. It will vary depending on customer profile.
  • The processing fee is 1% of the total finance amount.
  • The maximum amount of finance offered is AED 250,000.
  • The early settlement fee is 5% of outstanding principle.
  • It is not a requirement to transfer your income to the bank to be eligible for this finance.