Al Hilal Bank Auto Finance

Minimum Salary
5.000,00 د.إ

Flat Rate
2.40%

Reducing Rate
AED 4.99%

Maximum Term
5 Years

Monthly Payment
AED 17,500

Description

Al Hilal Bank’s Sharia-compliant auto financing offers flat profit rates starting from 2.25% p.a. for salaried customers and 3.50% p.a. for self-employed, with financing up to AED 1.5 million, tenures up to 60 months, and a transparent Murabaha structure featuring minimal fees, flexible deferment, and optional Takaful protection.

Features

Profit Rates & Financing Terms

Customer Type	Flat Profit Rate p.a.	Reducing Balance Rate p.a.	Maximum Finance	Tenure
Salaried Individuals	From 2.25%	N/A	AED 10 k–1.5 M	6–60 months
Self-Employed Individuals	From 3.50%	N/A	AED 10 k–1.5 M	6–60 months
New vs. Used Vehicle	New vehicles same rates	N/A	Up to 80% LTV

Eligibility Criteria

Age: 21–65 years
Residency: UAE nationals and residents
Minimum Salary: AED 5,000 per month (salaried)
Minimum Turnover: AED 300,000 per annum (self-employed)
Credit: Clean credit record; salary transfer not mandatory
Down Payment: 20% of vehicle value

Schedule of Fees & Charges

Fee Type	Charge
Processing Fee	1.05% of financed amount – min AED 525
Early/Partial/Final Settlement	1% of outstanding Murabaha cost – up to AED 10,000
Post-dated Cheque Replacement	AED 100 per cheque
Cooling-Off Period	5 business days – full refund of fees
Late Payment – Commitment to Donate	AED 200 per missed installment
Takaful Arrangement Fee	As per Takaful provider schedule
Cheque Bounce (Insufficient Funds)	AED 100 per incident
Loan Cancellation Fee	AED 100
NOC for Registration	Free
Title De-registration (post-settlement)	Free

Documents Required

Salaried Applicants

Emirates ID copy (front/back)
Passport and UAE visa page copy
Salary certificate or employment contract
Last 3 months’ bank statements
Vehicle quotation/invoice addressed to Al Hilal Bank

Self-Employed Applicants

Emirates ID and passport/visa copies
Trade license copy
Last 2 years’ audited financial statements
Last 6 months’ business bank statements
Vehicle quotation/invoice

Additional Info

Sharia-compliant Murabaha: Full cost and profit disclosure
Transparent Pricing: No hidden mark-ups or interest on accrued profit
Flexible Repayment: Tenures up to 60 months; defer first instalment by up to 210 days (subject to approval)
High Financing Limits: Up to AED 1.5 million for new and used vehicles
Optional Motor Takaful: Bundle insurance under Sharia-approved Takaful
Easy Cancellation: 5-day cooling-off with fee refund
Quick Approval: Simplified digital application and fast credit decision
No Salary Transfer Required: Salary transfer optional for convenience, not mandatory