RAK Auto Loan (Salaried Individual) | MoneyCamel

RAK Auto Loan (Salaried Individual)

RAK Bank

RAK Auto Loan (Salaried Individual)

New Car Loans
CAMEL VIEW
  • First installment due after 60 days.
  • Insurance finance
  • No salary transfer required.
  • Rates start at 3.25%.
FEATURES
Interest/Profit Rate 
3.25 % p.a.
Maximum Loan Amount 
AED 250,000
Maximum Loan Tenure 
60 Months
My Monthly income is 
AED 5,000
Maximum Lending 
80 % of Car Value
FEES & CHARGES
Late Payment Fee 
AED 100
Early Repayment Fee 
1 % of Loan Outstanding
Rescheduling Fee 
AED250
Installment Deferment Fee 
AED100
Processing Fee 
1%
ADDITIONAL INFORMATION

Option to defer up to two installments a year.

  • The rate starts at 3.25% based on a flat rate. It will vary according to the customer profile and the dealer the car is purchased from.
  • The processing fee is 1% of loan amount [Min AED 500 ; Max AED 2,500].
  • You are required to put 20% as down payment for this product.
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