Standard Chartered Bank Used Auto Finance

  • Minimum Salary AED 8,000
  • Flat Rate
    3.5%
  • Reducing Rate 6.54%
  • Max. Term 5 Years
  • Salary Transfer No
  • Islamic Finance No

Description

The Standard Chartered Bank Auto Loan will get you on the road in no time, with competitive interest rates, fast processing, reliable after-sales service and no hidden charges.

Major Advantage: High Finance amount

Points to Consider: There is down payment required, Finance available for used car only

Features

Interest Rate: 3.5% flat rate p.a.

Processing Fees: 1% of finance amount (Min AED 500, Max 2,500)

Minimum Salary Requirement: AED 8,000

Down Payment Required: 20%

Repayment Period: 5 Years

Early Settlement Fees: 1% of outstanding amount

Sharia Compliant: No

Salary Transfer Required: No

Maximum Finance Amount: AED 1,000,000

Holiday Period: Not available

Other Features:

  • Interest rate can vary depends on the profile of the customer and the dealer the car is purchased from.

Documents Required

  • Valid passport, Resident Visa and Emirates ID Copy.
  • Latest 3 months salary bank statement.
  • Salary Certificate.
  • Applicant should be 21 years and above.
  • Any other document as required by Standard Chartered Bank policy.

Additional Info

  • All info mentioned can change at any point in time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Flat rate is converted into reducing rate as per 5 years calculation.
  • Terms and conditions apply.

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