Abu Dhabi Islamic Bank (ADIB) offers Shariah-compliant car financing solutions designed to help customers purchase their desired vehicles with ease and flexibility.
Key Features:
High Financing Amounts: ADIB provides financing up to AED 1 million for UAE nationals and up to AED 500,000 for expatriates with salary transfer. For customers without salary transfer, financing is available up to AED 350,000.
Flexible Repayment Terms: Customers can choose repayment periods of up to 60 months, allowing for manageable monthly installments.
Competitive Profit Rates: Profit rates start from 1.99% per annum, making the financing affordable.
First Installment Grace Period: ADIB offers a grace period of up to 210 days before the first installment is due, providing customers with financial flexibility.
Motor Takaful Protection: Customers can benefit from low contribution rates and high coverage with ADIB’s Motor Takaful protection plans.
Installment Postponements: ADIB allows for one installment deferment per year, offering additional flexibility in repayment.
ADIB Wheels Deals: Through partnerships with leading auto dealers, ADIB provides customers with exclusive car deals and offers.
Eligibility Criteria:
Age: Applicants must be at least 21 years old at the time of application.
Employment: Available to employees of ADIB’s approved list of employers.
Income: A minimum monthly salary of AED 5,000 is required.
Salary Transfer: While salary transfer to ADIB is not mandatory, higher financing amounts are available for customers who choose to transfer their salary.
Required Documents:
Original and copy of valid passport (with valid residence visa for expatriates).
Original and copy of valid Emirates ID.
Original and copy of valid driving license.
Car quotation or evaluation letter addressed to ADIB.
Fresh salary transfer letter or salary certificate addressed to ADIB.
Three months’ bank statements (if salary is not credited to ADIB).
Fees and Charges:
Processing Fee: A processing fee is applicable; for detailed information, please contact ADIB directly.
Early Settlement Fee: Charges may apply if the financing is settled before the agreed tenure; specific details can be obtained from the bank.
Late Payment Penalty: Fees are imposed for overdue payments; details are available upon request.
Application Process:
To apply for ADIB Car Finance, customers can visit any ADIB branch or apply online through the ADIB Car Finance webpage. Required documents typically include a completed application form, valid identification, proof of income, and details of the vehicle to be financed.
For more detailed information or to initiate an application, please visit the ADIB Car Finance webpage.
