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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 2.15%* (equivalent to a reducing rate of 4.10%*) 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 | 2.15%* (equivalent to a reducing rate of 4.10%*) per year | 3.19%* (equivalent to a reducing rate of 5.98%*) per year |
| Expatriates | 2.29%* (equivalent to a reducing rate of 4.35%*) 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.
Islamic Car Finance For Self Employed Individuals
UAE Nationals
Competitive profit rates as low as 3.44% (equivalent to a reducing rate of 6.43%) per year- Finance of up to AED 1.5 million or 80% of the car’s value
- Finance available for new and used vehicles
OR
OR
OR
Expats
- Competitive profit rates as low as 3.49% (equivalent to a reducing rate of 6.52%) per year
- Finance of up to AED 1.5 million or 80% of the car’s value
- Finance available for new and used vehicles
OR
OR
OR
Eligibility
- Vehicle quotation
- UAE driving licence
- Bank statements (where applicable)
- Salary certificate addressed to FAB Islamic (where applicable)
- Murabaha request form completed and signed by the customer
- Copy of a valid passport/residence visa/Emirates ID (originals must also be presented)
OR
OR
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Note: Additional documents may be required on a case-by-case basis
| 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
Find out more about our Fees, Terms & Conditions
Ready to apply?
Get in touch
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 |