Ajman Bank Car Loan in UAE

Ajman Bank car loans follow Sharia principles, ensuring a fair and transparent process without hidden fees. Along with this, the auto finance facility is available for both nationals and residents with attractive interest rates and fast approvals. So, if you are seeking to buy your dream car, this loan option can be your ideal choice. To learn more about the Ajman Bank car loan features, benefits, and more, keep scrolling!

Top Car Loan Plans in Dubai

Ajman Bank Car Loan — Overview

Ajman Bank auto loan is a great way to buy a car without any financial strain. It provides you with the required funds to purchase your dream car and spread the car cost over several years.

This loan is available to both UAE nationals and expatriates for new and used cars with quick approvals and minimal paperwork. Additionally, you can get more perks, including a minimum down payment—20% of the car value, a competitive profit rate, flexible repayment terms of up to five years, and more. With Ajman Bank car loans, buying a car becomes easier, more affordable, and in line with ethical banking practices.

Types of Ajman Bank Car Loans in the UAE

The bank offers an array of car loan options tailored to meet the different needs of individuals and corporations. Here we’ve mentioned the top car loan facilities available at Ajman Bank.

Ajman Bank Car Loan Options	Specifications
Standard Offering	Available for salaried and self-employed individuals Minimum salary- AED 5,000 Finance option for new (up to AED 1,500,000) and used cars (up to AED 750,000) Availability of Takaful (Insurance)
50-50 Finance Offering	Only 50% of the car’s value can be financed 50% down payment  Car finance of up to AED 1.5 million Minimum salary- AED 5,000 For new and used cars
Exotic Cars (Luxury Cars) Finance Offering	For high net worth customers Minimum salary- AED 40,000 High finance amount, up to AED 2,000,000 30% down payment
Secured Finance Offering	Finance option available against Wakala (Fixed Deposit)  No mortgage required All types of cash collateral are accepted, at least 110% Simple documentation
Self-Employed Finance Offering	Available for self-employed customers or businessmen  Car finance of up to AED 1,500,000 Financing new and used cars 20% down payment
Rent A Car Finance / Fleet Finance	Available for small and medium-sized enterprises Competitive interest rate, such as 3.50% p.a. Finance up to AED 1,500,000 For new and used cars

Key Features of Ajman Bank Auto Loan 

The key features of Ajman Bank car loan are mentioned below:

• Comprehensive auto finance options for individuals and businesses
• Based on Islamic Principle (Shariah) Murabaha 
• Car loan facility for new and used cars
• Competitive interest rates
• High finance amount- up to AED 1,500,000 for new cars and AED 750,000 for used cars
• Flexible car finance tenure, up to 60 months 
• No mandatory salary transfer 
• Minimal documentation 
• Easy application process and fast approvals 

Eligibility Criteria for Ajman Bank Car Loan

To be considered eligible for an Ajman Bank car loan in the UAE, you need to meet the following eligibility criteria:

Eligibility Criteria	Specifications
Minimum Salary	AED 5,000
Nationality	UAE Nationals and Expats
Employment Status	Salaried and self-employed

Required Documents to Apply for Ajman Bank Auto Loan 

We have mentioned a list of common documents that you need to submit while applying for an Ajman Bank auto loan:

• Passport/Visa/Emirates ID
• Income proof, such as salary certificate, account statement, and more
• Vehicle quotation
• Trade license (if applicable)

✍️Note—

• Remember that the list of documents may change based on the car loan type
• Additional documents may also be requested by the bank

How to Apply for a Car Loan in the UAE? 

When it comes to applying for a car loan in the UAE, the process is streamlined with Paisabazaar.ae. Here’s what you need to do:

1️⃣Visit the homepage of Paisabazaar.ae and click on the ‘Car Loan’ option

2️⃣Complete the lead form

3️⃣Choose the relevant option on the quotes page

4️⃣Click on ‘Apply’ and follow the given instructions

Paisabazaar.ae goes beyond car loans to provide a variety of financial services. Here is why Paisabazaar.ae is your ultimate financial companion–

🏦 Tied up with leading banks

⚖️️ Compare multiple products, including features and benefits

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