Auto Loan

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 %

Apply online now

Fill in your details and our expert advisor will contact you soon.

+971

Unique Features

  • 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.

Eligibility

  • 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.

Documents required

  • Driver's license.
  • Salary certificate.
  • Bank statement.
  • Vehicle quotation.
  • Security cheque.
  • Passport and visa copy.