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Islamic Car Finance

Get your dream car through FAB Islamic car finance

Warning

  • You may have to pay applicable early settlement charges if you settle the full financing early
  • If you do not meet the payments on your financing, your account will go into arrears, and you will be committed to pay a donation amount based on the bank’s request (if any)
  • The Bank will commence the recovery and collection process (which may include engaging third party debt collection agencies) and legal action including bankruptcy
  • Any legal action against you may affect your credit rating, and this may limit your ability to access financing and make it more difficult or more expensive to access financing in the future
  • Refinancing your facility may result in it taking longer to pay off the financing and you may pay higher profit

Islamic Car Finance for Salaried Individuals

Drive your dream car with FAB Islamic Car Finance and enjoy profit rates as low as 2.35%* (equivalent to a reducing rate of 4.46%*) per year.

Get up to AED 1.5 million or 80% of the car’s value and take advantage of a 90-day grace period before the first instalment. Finance is available for new and pre-owned vehicles.

Segment With Multi Product Package (with a salary transfer to a FAB Islamic savings account and Islamic credit card) With a salary transfer to a FAB Islamic savings account without an Islamic credit card
UAE Nationals 2.35%* (equivalent to a reducing rate of 4.46%*) per year 3.19%* (equivalent to a reducing rate of 5.98%*) per year
Expatriates 2.59%* (equivalent to a reducing rate of 4.90%*) per year 3.24%* (equivalent to a reducing rate of 6.07%*) per year

Other benefits included with the Multi Product Package (with a salary transfer to a FAB Islamic savings account and Islamic credit card):

  • UAE Nationals: Up to AED 10,000 in FAB Islamic Rewards
  • Expatriates: Up to AED 7500 in FAB Islamic Rewards

*Conditions apply.

Click here to know more about the Multi Product Package.

Islamic Car Finance For Self Employed Individuals


UAE Nationals

  • Node Minus Alt
    Competitive profit rates as low as 3.44% (equivalent to a reducing rate of 6.43%) per year
  • OR
  • Node Minus Alt
    Finance of up to AED 1.5 million or 80% of the car’s value
  • OR
  • Node Minus Alt
    Finance available for new and used vehicles
  • OR

Expats

  • Node Minus Alt
    Competitive profit rates as low as 3.49% (equivalent to a reducing rate of 6.52%) per year
  • OR
  • Node Minus Alt
    Finance of up to AED 1.5 million or 80% of the car’s value
  • OR
  • Node Minus Alt
    Finance available for new and used vehicles
  • OR
  • Node Minus Alt
    A minimum salary of AED 7,000 for salaried individuals
  • OR
  • Node Minus Alt
    A minimum average monthly balance of 25,000 in the last three months for self employed individuals
  • OR
  • Node Minus Alt
    Vehicle quotation
  • OR
  • Node Minus Alt
    UAE driving licence
  • OR
  • Node Minus Alt
    Bank statements (where applicable)
  • OR
  • Node Minus Alt
    Salary certificate addressed to FAB Islamic (where applicable)
  • OR
  • Node Minus Alt
    Murabaha request form completed and signed by the customer
  • OR
  • Node Minus Alt
    Copy of a valid passport/residence visa/Emirates ID (originals must also be presented)
  • OR
Note: Additional documents may be required on a case-by-case basis
Terms and conditions apply.

Please refer to sample profit rate calculation below:

Particulars For UAE Nationals For Expats
Finance Amount (AED) 100,000 100,000
Finance Period (months) 48 48
Profit Rate (Flat Rate) 3.19% 3.24%
Equivalent Reducing Rate 5.98% 6.07%
Number of days before first payment 60 60
Profit Amount (AED) 13,292 13,500
Total Amount Payable (AED) 113,292 113,500
Monthly Instalment (AED) 2,360.24 2,364.58

One-time upfront processing fee of 1.05% will apply on the finance amount (minimum AED 525 and maximum AED 2,625). For further information on fees and charges, please refer to the service and price guide.

Features are subject to alteration/cancellation
All finances are subject to income and eligibility criteria
Eligibility criteria are subject to change from time-to-time

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Need more help?

Contact us anytime for further assistance or check out our FAQ page for more information.

FAB Islamic International
800 2200
Lines Open 24/7
+971 2 499 6299

Email Us
islamiccustomercare@bankfab.com