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Invest Bank Auto Loans

Minimum Salary
0,00 د.إ

Description

Invest Bank offers conventional auto loans with flat interest rates starting from 6.00% p.a. on a reducing‐balance basis, financing up to 80% of the vehicle value, tenures up to 60 months, and a straightforward fee structure complemented by optional insurance arrangements and flexible deferment options.

Features

  1. Interest Rates & Financing Terms
  • Rate: from 6.00% p.a. (reducing balance)
  • Finance-to-Value: up to 80% of vehicle purchase price
  • Maximum Loan Amount: not explicitly capped; subject to affordability
  • Tenure: 12–60 months
  • Installment Holiday: first payment deferment available (subject to approval)
  1. Eligibility Criteria
  • Age: 21–65 years at loan maturity
  • Residency: UAE nationals and residents
  • Employment: Salaried or self-employed; salary transfer required for seamless processing
  • Credit: clean Central Bank credit history
  • Minimum Income: not publicly specified; assessed per bank policy

 

Schedule of Fees & Charges

Fee Type Charge
Processing Fee 1% of loan amount – min AED 500, max AED 2,500
Early/Partial/Final Settlement Fee 1% of outstanding balance – max AED 10,000
Deferment of Instalment AED 200 per deferment
Loan Rescheduling AED 250 per request
Cooling-Off Period 5 business days – AED 100 cancellation fee
Late Payment Penalty AED 200 per missed instalment
Post-dated Cheque Replacement AED 100 per cheque
NOC for RTA Registration Free
Vehicle Mortgage Release (post-sett.) Free

 

Documents Required

  • Emirates ID copy
  • Passport + valid UAE visa copy
  • Salary certificate or employment letter
  • Last 3 months’ bank statements (for salary account)
  • Trade license + audited financials (self-employed)
  • Dealer’s invoice/quotation addressed to Invest Bank
  • Completed application and disclosure statement

Additional Info

  • Direct Seller Payment: Funds disbursed directly to vehicle seller, minimizing customer enlistment hassles.
  • Flexible Deferment: Deferral and rescheduling options facilitate affordability during cash flow variations.
  • Transparent Disclosure: Full Disclosure Statement provided prior to disbursement, detailing all rates, payments, and obligations.
  • Comprehensive Insurance: Mandatory motor insurance with bank as beneficiary; bank-arranged life/disability insurance optional.
  • Digital & Branch Access: Application initiation via Invest Bank branches; disclosure and agreements provided on paper for legal certainty.
  • Default Protections: No compound interest; late-payment donations and penalty interest capped per policy.
  • End-of-Service Integration: End-of-service benefits may be utilized to settle outstanding loan amounts upon employment termination.

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