Auto Loan RAKBANK

Min. salary

AED 5,000

Reducing / Flat

4.26% / 2.35%

Down Payment

20%

RAKBANK Car Loans ensures minimum formalities and flexible repayment periods, that put you in the driver's seat quickly and conveniently.

Max Amount

AED 500,000

Arrangement Fee

1.00%

Early Settlement Fee

1.00 %

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Minimum 20% down payment required for Salaried Customers, and from 0% Down Payment for All Business & Self Employed Customers.
No salary transfer needed for salaried customers.
First installment after 60 days.
Flexible repayment periods up to 60 months.
Finance available for new companies with Length of Business from 6 months onwards.
Finance available for Insurance, Rustproofing, service and maintenance contracts, and GAP if required.
No hidden charges.
RAKdirect 24-hour phone banking support.

RAKauto Loans are offered to all UAE nationals, GCC nationals and expatriates holding a valid UAE residence visa. It is available for individuals as well as company purchases.
Minimum age requirements are 18 years and six months for registration and 20 years and six months for cheque payers.

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