Dubai Islamic Bank (DIB) Auto Finance

Minimum Salary
6.000,00 د.إ

Flat Rate
2.15%

Reducing Rate
AED 4.99%

Maximum Term
5 Years

Monthly Payment
AED 16,500

Description

DIB’s Sharia-compliant Auto Finance delivers flat profit rates from 2.15%–6.00% p.a. (reducing equivalent 3.93%–10.98% p.a.), financing up to AED 1 million for individuals and AED 8 million for businesses, tenures up to 60 months, and a transparent Murabaha structure with minimal fees, flexible deferment, and bundled Takaful options.

Features

Profit Rates & Financing Terms

Flat Profit Rate:15%–6.00% p.a.*
Reducing Equivalent Rate:93%–10.98% p.a.*
Maximum Finance:
- Individuals: up to AED 1 million
- Corporates: up to AED 8 million
Tenure: 6–60 months
Down Payment: Minimum 20% of vehicle price
First-Installment Deferment: Up to 210 days (salary-transfer customers)

*Actual rates vary by salary, segment, and nationality.

Eligibility Criteria

Age: 21–65 years at maturity
Residency: UAE nationals, residents, and GCC nationals
Minimum Salary: AED 3,000 per month (no salary transfer required)
Employment: Salaried (≥6 months) or self-employed (≥2 years audited accounts)
Credit: Acceptable Central Bank credit history
Vehicle: New or used passenger cars, commercial vehicles, heavy machinery

Detailed Schedule of Fees & Charges

Fee Type	Charge
Due Diligence & Documentation	1.05% of finance amount – min AED 520, max AED 2,620
Early/Partial/Final Settlement	Discretionary rebate on outstanding profit; no fixed fee (per CBUAE guidelines)
Installment Postponement	No fee (salary-transfer customers)
Additional Deferment	AED 105 per deferment
Post-dated Cheque Replacement	AED 100 per cheque
Cheque Bounce (Insufficient Funds)	AED 100 per incident
Cooling-Off Period	5 business days – full refund of fees
Vehicle Valuation (if applicable)	As per external evaluator
Late-Payment Donation	AED 100 per missed installment
Loan Cancellation	AED 100
NOC for RTA Registration	Free
Title De-registration (post-settlement)	Free

All fees subject to VAT where applicable.

Documents Required

All Applicants

Emirates ID (copy)
Passport + UAE visa copy
Vehicle quotation/invoice addressed to DIB

Salaried

Salary certificate or employment contract
Latest 3 months’ bank statements

Self-Employed

Trade license copy
Last 2 years’ audited financials
Latest 6 months’ business bank statements

Corporate

Trade license
Board resolution/authorization
Memorandum & Articles of Association
Last 2 years’ audited financials

Additional Info

Transparent Murabaha: Full disclosure of cost and profit margin.
Low Profit Rates: From 2.15% p.a. flat; fixed for entire tenure.
High Financing Limits: AED 1 million for individuals; AED 8 million for corporates.
Flexible Tenures: Up to 60 months with first-instalment deferment up to 210 days.
Broad Eligibility: No salary-transfer requirement; caters to GCC and expat customers.
Bundled Takaful: Optional motor Takaful financing.
Digital Convenience: Apply via DIB app/online; quick credit decision.
Post-Sales Support: Auto Refinance facility, early-settlement rebate, and dedicated relationship managers.