Down payment should be at least 20% of the car value
Disclaimer
Rates are quoted on a reducing rate per annum and the equivalent flat rate p.a. is mentioned for 60-months tenure this may change as the tenure reduces. The example in the Auto Loan eligibility calculator is not a quotation and it is for illustrative purposes only. A full quotation will be provided when you apply and amounts may vary. The auto loan calculation is designed to give you an indication and should be used as a guide only.
Auto Loans are offered to all UAE nationals, GCC nationals and expatriates holding a valid UAE residence visa. It is available for individuals as well as company purchases.
RAKBANK Auto loans can be availed for the following vehicle categories:
Minimum income required for salaried individuals: 5,000/month
RAKBANK Auto Loan is a financing solution specifically designed for the purchase of a motor vehicle. This asset-secured loan is granted by RAKBANK and is secured by the vehicle registered with the UAE Traffic Department.
This loan is available to all UAE nationals, GCC nationals, and expatriates who hold a valid UAE residence visa. Whether you are an individual or a company, you can take advantage of RAKBANK Auto Loan.
RAKBANK offers financing for a variety of vehicles, including standard vehicles such as sedans and SUVs, non-standard vehicles such as sports cars and commercial vehicles up to 4.5 tons, and luxury cars.
Yes, the vehicle can be registered anywhere in the UAE, subject to the approval of both RAKBANK and the UAE Traffic Department.
A 20% down payment is typically required. However, in certain cases, the Bank may grant approval with a lower down payment requirement.
RAKBANK Auto Loans are repaid through a standing order for RAKBANK customers, and direct debit from a customer's account with another bank for non-RAKBANK customers.
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RAKauto Loan For Flexible Car Financing With Low Rates | RAKBANK UAE
