If you’re looking for a reliable and convenient car loan solution in Dubai, look no further than the Commercial Bank of Dubai’s Tamweel Car Loan. Designed to meet the unique needs of individuals seeking financing for their dream car, this loan offers a range of features and benefits. In this article, we will explore the key features, required documents, and eligibility criteria for the Tamweel Car Loan.
Features of Commercial Bank of Dubai
- The Tamweel Car Loan offers competitive interest rates to ensure that your car financing is affordable and cost-effective.
- You can choose from flexible repayment options that suit your financial situation. The loan tenure can be up to 60 months, allowing you to select a repayment period that fits your budget.
- The loan approval process is fast and efficient, ensuring that you can get behind the wheel of your new car without unnecessary delays.
- Depending on your eligibility, you can borrow up to AED 1,500,000 to finance your desired vehicle.
- The Tamweel Car Loan offers the option of deferred payments for up to 3 months, giving you some breathing space before you start making monthly installments.
- The loan can be bundled with comprehensive car insurance, providing you with added convenience and protection.
Required Documents
To apply for the Tamweel Car Loan, you will need to provide the following documents:
- You will be required to fill out an application form, providing all the necessary details and information.
- A copy of your valid Emirates ID card is required for identification purposes.
- A copy of your passport is needed to verify your identity and residency status.
- You need to provide a salary certificate from your employer, confirming your monthly income.
- Recent bank statements, typically for the past three to six months, are required to assess your financial stability.
- A quotation from the car dealership or seller, indicating the price of the vehicle you intend to purchase, is necessary.
- You must have a valid UAE driving license to be eligible for the Tamweel Car Loan.
Eligibility Criteria
To be eligible for the Tamweel Car Loan, you need to meet the following criteria:
- You must be between 21 and 65 years old to qualify for the loan.
- The loan is available to UAE residents with a valid residency visa.
- You should have a minimum monthly income as specified by the bank.
- You should be employed by a company that is approved by the Commercial Bank of Dubai.
