Emirates Islamic Emirates Islamic
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Quick and Simple Auto Finance. Flexible and Hassle-free Repayment.

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Your Dream Car will now be yours

Buying a car is made simple and hassle-free with Emirates Islamic Vehicle Finance. The Islamic car finance we offer, gives you the opportunity to bring home the car you wanted with the least possible trouble with paperwork and payments.

Our Vehicle finance scheme known as Intaleq is an Islamic vehicle finance service which is Shari’a compliant, offering one of the best finance solutions and personalized service. Flexible payment plans, competitive rates and a host of other benefits will have you ready to own your dream car today.

Here are some of the top features you can benefit from:

  • Flexible, extended repayment periods of up to 5 years
  • Murabaha structure complying with Shari’a principles
  • Quick and easy approval process
  • Minimal documentation
  • Salary Transfer is not mandatory

Benefits

Be it a brand-new sports car or an SUV, no matter what your dream car is, we’ve got all the solutions to meet your needs and budget. The Emirates Islamic Car Finance allows you to enjoy a range of benefits and bring home your dream car.

  • New Auto Finance: Profit rates starting from as low as 2.15% flat p.a for UAE National & 2.29% for expatriate customers.
  • Certified Pre-owned Auto Finance: Profit rates starting from as low as 2.15% flat p.a for UAE National & 2.29% for expatriate customers.
  • Used Auto Finance: Profit rates starting from as low as 2.49% flat p.a. for UAE Nationals & 2.59% for expatriate customers.
    Click here to know more.
  • Get Competitive Profit Rates on vehicle finance and pay it back with ease.
  • Our repayment method allows you a Flexible, Extended Repayment Period of up to 5 years. The Emirates Islamic car finance also offers you up to 60 Days Grace Period to start your 1st Instalment.
  • Even the process of obtaining vehicle finance is made simple and quick for you. You don’t have to go through hordes of documents and wait for ages. Our process involves Minimal Documentation which are simple to fill, and even the Approvals are quick and take around 4 hours.
  • Emirates Islamic finance is available for a variety of Vehicle Brands, for New, Certified Pre-owned and used Vehicles.
  • Our auto finance has a fully Shari’a compliant Murabaha Structure.
  • This is a Regular Murabaha product with subvention variant. You can finance Insurance, Accessories and VAT.
  • Salary Transfer is not mandatory.

Documents Required

  • Salary certificate or documented evidence of income.
  • 3 months bank statements for your salary account (not required if your salary is already being transferred to Emirates Islamic)
  • Copy of valid passport with valid UAE Residence Visa, the latter is applicable for expatriates only (Originals required for verification).
  • Post-dated cheques (if applicable).
  • Security Cheque.
  • Comprehensive Islamic vehicle insurance.
  • A quotation or pro-forma invoice from the dealer for new vehicles.

For used cars you will require:

  • A valuation certificate issued by an Emirates Islamic approved dealer
  • An ownership title
  • A quotation or offer to sell to the bank from the current vehicle owner.

Eligibility

If you are a UAE national or a resident of the UAE and if you fulfil the necessary requirements, you are eligible for Emirates Islamic Auto Finance. Terms and Conditions Apply.Click here

How to Apply

There are two ways you can apply for auto finance:
1. Apply for auto finance online by clicking click here, providing all the required details and submitting them.
2. Visit your nearest Emirates Islamic Bank.

You can repay the finance using the following methods:

  • Online banking
  • Mobile banking
  • Phone banking.
  • You can also connect with the Emirates Islamic Bank to discuss other payment methods.

Things to Remember

  • Factors such as credit history, documentation and the ability to repay the finance amount can contribute to vehicle finance approval.
  • If the auto finance is in your name, you need to be present at the time of receiving the vehicle.
  • The maximum auto finance amount available is 1.5 M. Terms and Conditions Apply.
  • The profit rate ranges from 1.80% to 2.95% for salaried customers.
  • The processing fees is 1% of the finance amount, with a minimum of 500 AED and a maximum of 2500 AED.
  • Insurance compliance is a condition for financing.
  • The grace period for the 1st instalment is up to 60 days.
  • You cannot reschedule auto finance.
  • You cannot buy-out your vehicle finance.

Calculator

AED
Months

* Terms and conditions apply
Profit rates vary by Tenure & subject to bank policy

Frequently Asked Questions

The processing takes around 4 hours. Terms and Conditions Apply.

Yes, Insurance, Accessories and VAT financing is available.

The validity of the LPO is 45 days from the date of issue. Terms and Conditions Apply.

No, there is no additional charge for the graced period.

Yes, however, certain Terms and Conditions apply.

Yes, it can be deferred, however, certain Terms and Conditions apply.

Yes. Terms and Conditions apply.

Our flexible repayment tenor extends to a maximum of 60 months.

The minimum repayment tenor is 12 months.

Yes, your chances of getting auto finance are reduced drastically if you have a history of bad repayments. However, if your credit score has been increasing recently your chances may increase as well.

Every time you apply for a finance the bank will check your credit report. The more times your credit report is pulled out, the worse it is for your credit score.

Yes. Terms and Conditions Apply.

  • An Auto Loan is money you borrow and pay back with low interest or high interest over multiple years.
  • However Auto Finance is a Shari’a Compliant contract based product, where the bank sells an asset at a profit, as Islamic Banks are prohibited from charging interest. So this product is Riba free.

  • An Islamic Bank offers liquidity - in a Shari’a compliant way - to the customer, which can help him settle his outstanding debt with another bank.
  • However Conventional Banks buyout the loan without any Shari’a arrangement.

As per Shari’a, it is impermissible to buy a loan at discount or at premium.

  • Conventional Bank is a financial body which receives money from the depositors against fixed rate of interest and it offers liquidity to borrowers against interest. And it is governed by conventional banking laws.
  • Islamic Bank is a financial body which executes commercial contracts likes sale, leasing, construction and are governed by Islamic Banking laws which allow for financial bodies to carry on commercial activities for profitable purposes.

  • As per Loan arrangement, the borrower needs to return to the lender exactly from whom they borrowed.
  • However Financing is a commercial contract based on sale, leasing or construction.
  • All banking products offered by Islamic banks are based on financing.

  • Borrower is a person (or entity) who borrows money from someone else.
  • Financee is a person who agrees to settle a deferred price payable upon execution of a sale or leasing contract.

  • Interest is any increment earned over and above the repayment of loan amount which is not permissible as per Shari’a.
  • Profit is any additional revenue generated through various trade activities. Earning profit is permissible as per Shari’a.

An Islamic Bank does not earn any interest on its financings, rather it generates profits through entering into various commercial activities like sale & purchase, leasing, construction etc.

  • Borrower in a conventional bank undertakes to pay a penalty in case he delays in settling installments on due dates. These amounts are taken as additional profits for the Bank.
  • Financee in an Islamic bank that undertakes to pay an extra amount which goes for charitable purpose and the Bank does not benefit from these amounts.

  • Installments paid by the Finance Customer in an Islamic Bank represents payment of the sale price, lease rentals or service charges.

However, installments paid by a Borrower in a Conventional Bank represents repayment of a previously taken loan.

Important Information regarding your Auto Finance

Click here to learn more.