It’s time you drove your car with pleasure and peace of mind! Dubai Islamic Auto Finance offers a world class auto finance facility that enables you to get a car quickly, conveniently and in a fully Sharia compliant manner. Using Musharaka cum Ijara model to finance your car, steer yourself towards peace of mind and fulfillment of your desire.
Low Takaful Rates
Low Takaful rates compared to any other Bank.
Payment Advance Booking Cases
No monthly rental payments will be made by the customer before delivery of the car in Advance Booking cases.
Competitive and affordable monthly rentals as per industry standards.
DIBPL will finance up to 70% to 85% of the car value
Minimum financing: Rs.100,000
Maximum financing: Rs. 3,000,000
Our products are structured under the tenets of Islam & Shari’a compliance for Riba free (Interest free) transactions.
- New or Used Cars.
- Payment plan with tenure options ranging from 1-7 years.
- Ready Delivery and Advance Booking.
- Income clubbing option.
- Up to 9 year old vehicle can be financed
|Customer Class||Minimum Age at the time of Application||Maximum Age at the time of Finance Maturity|
|Salaried||21 Years||60 Years|
|Self Employed Professional||21 Years||65 Years|
|Self Employed Businessman||21 Years||65 Years|
You are Eligible for Dubai Islamic Auto Finance if:
|Your Monthly Net Income is||Rs.25,000|
|You Have Been Working For|
|Self Employed Professional||6 Months|
|Self Employed Businessman||12 Months|
- Copy of primary applicant’s CNIC.
- Copy of co-applicant’s CNIC (if applicable).
- 2 passport size photographs.
- Latest salary slip.
- 6 months Bank statement (if applicable).
- Bank certificate (if applicable).
Which mode of financing is being used currently by Auto Finance?
Musharaka cum Ijarah model
When are the processing charges applied?
Processing Fee will be required to pay when the document/application is approved.
What is the current Pricing mechanism for Auto Finance?
It is an annually/semi-annually adjustable profit rate and would vary as per movement of benchmark
“KIBOR”. The Pricing is revised after every six (06) or twelve months (12) from the date of contract
booking depending upon your chosen renewal option, which can change the rental amount.
What is the minimum and maximum financing limit available for Auto Finance?
Rs 100K –Rs 5 million
Which of the following type of Car can be financed for Auto Finance?
- Imported/Reconditioned Cars
Who can apply for Auto Finance facility?
- Salaried individual,
- Self Employed Professional (SEP),
- Self Employed Businessman (SEB)
What is the minimum and maximum Age Criteria for Auto Finance?
- 21-65 years-SEB/SEP
- 21-60 years -Salaried
Minimum Income Criteria for Auto Finance is
Minimum net income required is Rs 25,000/-
What is the relationship of customer and DIBPL during the financing?
Customer and DIBPL become Partners
What is the Minimum Customer’s contribution is required of Car price?
15% of the car price is the minimum customer’s contribution required.
What is the Maximum financing tenure?
7 years is the maximum financing tenure available.
What is the maximum age of vehicle that can be financed?
Up to 9 year old vehicle can be financed.