Siraj Finance PJSC Auto Finance

Minimum Salary
0,00 د.إ

Description

Siraj Finance offers Sharia-compliant Murabaha auto financing for new and used vehicles, with profit margins disclosed upfront on a case-by-case basis, tenures up to 60 months, financing up to 80% of vehicle cost, a transparent fee structure, and value-added customer benefits including flexible deferment and comprehensive support.

Features

Product Structure & Profit Margin

Siraj Finance’s Vehicle Finance is structured as a Murabaha (cost-plus-profit) sale:

Siraj purchases the vehicle and then sells it to the customer at cost plus an agreed profit margin.
The Sale Price (cost + profit margin) is fixed and disclosed upfront.
Repayment is in fixed monthly instalments over the agreed tenor.

Financing Terms

Finance-to-Value: Up to 80% of the vehicle’s invoice value (minimum 20% down payment).
Tenure: 12–60 months.
Profit Margin: Individually negotiated based on customer profile, vehicle type (new/used), and tenor.
First-Instalment Deferment: Up to 90 days (subject to approval).

Eligibility Criteria

Age: 21–65 years at maturity.
Residency: UAE nationals, GCC nationals, expatriates.
Income/Employment:
- Salaried: Minimum 6 months at current employer.
- Self-Employed/Professionals: Minimum 2 years of audited accounts/business operation.
Credit History: Acceptable Central Bank of UAE credit record.

Schedule of Fees & Charges

Fee Type	Charge
Processing Fee	1.00% of financed amount – min AED 500, max AED 2,500 (non-refundable)
Early/Partial Settlement Fee	1.00% of outstanding balance
Instalment Deferment Fee	AED 200 per deferment; up to 3 instalments may be postponed per tenor
Post-Dated Cheque Replacement	AED 100 per cheque
Cooling-Off Period	5 business days – full refund of processing fee if cancelled
Late-Payment Charity Contribution	AED 100 per missed instalment
Vehicle Pledge Release	Free (RTA fees apply separately)

All fees exclusive of 5% VAT unless stated otherwise.

Documents Required

Common Documents:

Emirates ID, passport, UAE visa copy
Vehicle proforma invoice or dealer quotation addressed to Siraj Finance
Completed Vehicle Finance application

Salaried Applicants:

Salary certificate or employer’s salary-transfer letter
Last 6 months’ personal bank statements

Self-Employed/Corporate Applicants:

Trade licence, Chamber of Commerce extract, MOA/POA
Last 2 years’ audited financials
Last 6 months’ business bank statements

Additional Info

Transparent Pricing: Full disclosure of cost price and profit margin upfront.
Flexible Tenure & Deferment: Tenors up to 60 months; defer up to 3 instalments to manage cash flow.
High Financing Limits: Suitable for new and used vehicles; financing up to 80% of value.
Sharia-Compliance: Ethical Murabaha structure with no hidden charges or riba.
Comprehensive Support: Documentation assistance, liability/NOC letters, and post-settlement pledge release.
Wide Eligibility: Caters to salaried, self-employed, and corporate customers with tailored documentation paths.
Customer Service: Dedicated relationship managers, toll-free support, and branch/online application options.