In this article, we will guide you on simply applying for Emirates Islamic Bank auto finance and what kind of documents are wanted for auto finance. We also talk about benefits, eligibility, payment methods, and types of auto finance. Now that you are buying a car, your dreams come true with the help of Emirates Islamic Bank auto finance. Let’s explore the details of Emirates Islamic Bank auto finance.
Table of Contents
Types of Emirates Islamic Bank auto finance
New car finance
When you think about buying a brand new car don’t worry Emirates Islamic Bank offers auto finance. This finance makes it easy for you to buy a new car. They provide you with competitive interest rates and flexible repayment options.
Use car finance
Emirates Islamic Bank offers competitive profit rates for using car finance, making it easier for you to bring a car into your home. They provide you headache-free with nominal documentation, quick approvals, and flexible payment options.
Benefits of Emirates Islamic Bank auto finance
- Competitive profit rates.
- Flexible payment period.
- Quick and easy approval.
- Shariah-compliant Murabaha structure.
- No mandatory salary transfer.
How to apply for Emirates Islamic Bank auto finance
Nowadays online banking platforms make it easier for our banking work with the help of online platform. It simplifies financial tasks, providing 24/7 access to your accounts and allowing you to manage your money conveniently. It gives us many services like logging into an account, checking your balance, paying bills, transferring money, applying for loans, and credit cards, etc.
Application process through website, online & offline.
Website application
- Open the Emirates Islamic Bank website.
- Fill out your documents in the application form.
- Submit your application form.
Mobile application
- Download the Emirates Islamic Bank mobile app from the Play Store or Google Store.
- Open the mobile app.
- The required details are provided in the application form.
- Submit your application form.
Offline application
- Visit your nearest Emirates Islamic Bank branch.
- Discuss your auto finance.
- Complete the form and the necessary documents are provided.
- Hand over your form to the bank employee.
Eligibility
- Nationality and residency: UAE nationals or UAE residents apply for Auto finance.
- Minimum salary: If you are employed you need a minimum monthly salary is AED 4000 to AED 10,000.
- Age: If you apply for Auto finance your age should be between 21 to 60 years old.
Required documents
- Salary certificate or proof of income. Your income documents evidence.
- Bank statements: The last 3 months’ bank statements.
- A valid passport and UAE residency visa (for residency original documents for verification).
- Comprehensive Islamic car insurance: ensure you have insurance coverage for your vehicle.
- Dealer quotation or pro-forma invoice.
- Post-dated cheque.
- Security cheque.
Payment options
- Fixed installments: Pay a consistent amount each month.
- Balloon payment: Lower monthly installments with a larger final payment.
- Early settlement: Clear your loan before the tenure ends.
Payment methods
Online banking
For online banking click here \login.emiratesislamic.ae/.
Emirates Islamic banking provides a secure and convenient way to manage your finances, anywhere, anytime.
- Access
- Payments
- Quick links
- Account management
- Security
Phone Banking
Emirates Islamic phone banking offers a more convenient way to manage your finances. You can access it by calling the 24/7 call center.
- Automated transactions: Use the interactive response service to conduct.
- Agent Assistance: Speak to friendly agents in Arabic, English, Hindi, or Urdu.
- Mobile number portability: If you switch mobile service providers while keeping the same number, you can continue using services like bill payment and balance inquiries without updating your registered mobile number.
Mobile banking
Emirates Islamic mobile banking offers fast, convenient, and on-the-go banking services with the E+ mobile banking app.
- Access over 150 features and services.
- Personalize your dashboard.
- Send money globally in second.
- Pay bills effortlessly.
What is the time of paperwork processing for the auto finance?
The paperwork processing time is around 4 hours and terms or conditions apply.
What are the interest rates for new auto finance of Emirates Islamic Bank?
Emirates Islamic Bank offers 2.49% for UAE nationals and 2.65% for residency customers on new auto finance.
Can the EMI date be changed?
Yes, but terms and conditions should be apply.
Emirates Islamic Bank’s auto finance options empower you to ride a car on the road confidently. Explore their offerings, calculate affordability, and drive your dream car today.
