Noor Bank is one of the fastest growing Bank of UAE. Noor bank offers Islamic Auto Finance with most competitive rates across UAE.
Major Advantage: Low minimum salary requirement, High Finance Amount
Major Concern: Finance only available for new cars
Flat Rate: Starting from 2.64% p.a. (Rate can vary as per the salary of the client)
Reducing Rate: 4.99%* p.a.
Processing Fees: 1% (Min AED 500, Max AED 2,500)
Minimum Salary Requirement: AED 8,000 & Average turnover of 50,000 per month for self-employed
Down Payment Required: 20%
Repayment Period: 5 years
Early Settlement Fees: 1% of outstanding amount
Sharia Compliant: Yes
Salary Transfer Required: Not compulsory
Maximum Finance Amount: AED 750,000 for UAE nationals, AED 500,000 for Expats
Holiday Period: Not available
Self Employed Documents: