Noor Bank Car Loan

Top Car Loan Plans in Dubai

Noor Islamic Bank Car Loan (Now DIB Car Loan)

Noor Bank, a prominent Sharia-compliant financial institution in the UAE, has recently merged with Dubai Islamic Bank, one of the region's largest Islamic banks. This merger has enriched the banking experience by broadening service offerings and promoting higher financial innovation.

The bank has a customer-centric approach and caters to users’ diverse needs for cost-effective banking solutions. DIB’s car loan service is designed to simplify vehicle buying with attractive profit rates, flexible repayment terms, and a straightforward application process.

Let’s explore the various types of Noor Islamic Bank car loans (DIB) available, their eligibility criteria, the application process, and more!

Types of DIB (Noor) Bank Car Loans in the UAE

Refer to the features and eligibility criteria of each DIB (Noor) Islamic Bank car loan below:

Electric Vehicle Finance

Features/ Benefits

• Finance Amount- Up to AED 1.5 million (for individuals) and up to 8 million (for self-employed)
• Vehicle eligibility - Accessible to both new and used vehicles
• Application Process- Paperless/ Digital
• Profit Rates- Starting from 1.89% per annum
• Loan Tenure- Flexible terms up to 60 Months

Eligibility Criteria

• Minimum Salary- AED 8,000
• Applicants- Open to both new and pre-owned car owners
• Salary Transfer- Not Required

Al Islami Auto Finance

Features/ Benefits

• Salary Transfer- Not Required
• Finance Options- Available for both New and Used Cars
• Auto Finance ILOE Takaful option

Eligibility Criteria

• Minimum Age- 18 Years
• Maximum Age- 56 Years (58 years till maturity)

Auto Finance for Self-Employed

Features/ Benefits

• Finance Amount- Up to AED 1.5 million
• Finance Options- New and Used Cars
• Documentation- Quick and Simple
• Loan Repayment Tenure- Up to 60 Months 

Eligibility Criteria

• Applicant Type- Self-employed Individuals
• Applicant Car Type- New and Used Cars

Auto Finance for Commercial Vehicles

Features/ Benefits

• Finance Amount- Up to 8 million
• Documentation- Simple and Quick
• Loan Repayment Tenure- Up to 60 Months
• Flat Profit Rates- Ranges Between 3.8% and 5.6% Per Annum
• Reducing Profit Rates- Ranges Between 6.95% to 10.25% Per Annum

Eligibility Criteria

Applicant Type- Includes companies, Heavy Machineries, and Rent-a-Car services.

Documents Required to Apply for a DIB Auto Loan

Here is a common checklist of documents required to apply for a DIB auto loan in the UAE:

For Salaried Employees	For Self-Employed Individuals
Emirates ID Passport Residence visa (applicable to expatriates) 3-6 months’ personal bank account statement Salary certificate or pay slips (whichever is required) Quotation of the vehicle	Emirates ID Passport Residence visa (applicable to expatriates) 3-6 months’ company bank account statement Trade licence/ partnership agreement/ Memorandum of Association Quotation of the vehicle

Note:

• All documents must be valid and original.
• Copies of each document may be required.
• Additional documents may be required by the bank as needed.

Apply for a DIB (Noor) Auto Loan via Policybazaar UAE?

Apply for a DIB car loan through our website. Click here to get direct access to the lead form!

Enjoy the following privileges with Policybazaar UAE:

• Select your preferred loan from a wide range of products across the top UAE banks.
• Get 24/7 customer support service for all your queries.
• Apply digitally for an auto loan without any hassle.

For further clarification, refer to the “Frequently Asked Questions” about the Noor Islamic Bank car loan in the UAE!

Frequently Asked Questions

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