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FAQ
Answers to the most
frequently asked questions.
ADCB Islamic Banking Auto Finance
ADCB Islamic Banking Auto Finance facilities are available to all eligible Salaried or Self Employed UAE residents (UAE Nationals and Expatriates). Any commercial entity registered and operating in the UAE are also eligible.
| Employment Category | UAE Nationals |
|---|---|
| Salaried | AED 5,000 per month |
No, it is not mandatory to transfer your salary or business income to ADCB Islamic Banking to avail an Auto Finance.
You can apply for an ADCB Islamic Banking Auto Finance through any of the following convenient options:
- Submit a request through the ADCB Islamic Banking website (www.adcbislamic.com).
- Visit any ADCB branch.
- Call our toll free ADCB Islamic Banking Contact Centre at 600 50 20626 to be assisted by one of our dedicated Auto Finance Sales Officers.
Additionally, ADCB Islamic Banking has partnered with several well known car dealers across the UAE, and you may also submit your application directly through them.
| Minimum Finance Amount | AED 10,000 |
| Maximum Finance Amount | AED 1,500,000 |
Yes, ADCB Islamic Banking has no objection to the vehicle being registered under a minor’s name.
No, life Takaful cover is not mandatory to avail an Auto Finance.
However, Motor Takaful cover is mandatory as per Dubai RTA and Abu Dhabi Police regulations.
It is not mandatory to obtain Motor Takaful Cover through ADCB Islamic Banking. You may choose any approved Islamic insurance provider.
Yes, you can transfer your existing Auto Finance from another bank to ADCB Islamic Banking.
No, ADCB Islamic Banking doesn’t offer a Refinance Auto Finance option to finance your owned vehicle.
Yes, you may take your financed vehicle outside the UAE. To obtain a permit, you may contact our dedicated Auto Finance Service desk via email using your ADCB registered email address:
- Dubai: [email protected]
- Abu Dhabi: [email protected]
Or alternatively you may also visit in person any ADCB branch or our dedicated Auto Finance Service Desk located in the following locations:
Dubai:
Ground Floor, ADCB Khalid Bin Waleed Branch, Bur Dubai, Dubai
Abu Dhabi:
7th Floor, ADCB Head Office 2, Abu Dhabi
Upon reviewing your request, ADCB Islamic Banking may, at its discretion, require you to place a security guarantee equal to the outstanding Finance amount before issuing the permit.
Once issued, you must approach the relevant government authority under which your vehicle is registered (Dubai RTA for Dubai plates or Abu Dhabi Police for others).
Please note:
Your motor Takaful cover provider may also require a separate permit. You are advised to check with the relevant authorities.
No, Auto Finance payments cannot be deferred as ADCB Islamic Banking’s policy.
You may visit any ADCB branch or contact our dedicated Auto Finance Service Desk:
Dubai:
Ground Floor, ADCB Khalid Bin Waleed Branch, Bur Dubai, Dubai
Abu Dhabi:
7th Floor, ADCB Head Office 2, Abu Dhabi
Or email us using your ADCB Islamic Banking registered email address:
- Dubai: [email protected]
- Abu Dhabi: [email protected]
Please note that early settlement charges may apply. Please refer to ADCB Islamic Banking’s published Schedule of Fees (SOF).
No. There is no option to defer monthly payments or reschedule an existing Auto Finance facility.
No. An additional amount cannot be extended on an existing Auto Finance facility once the finance for the vehicle has already been disbursed.
Your first monthly payment towards your Auto Finance is due any time after finance disbursal.
You may obtain this information by logging into your ADCB Internet Banking or ADCB Mobile Banking App or alternatively you may also visit any of our ADCB branches for one of our dedicated customer service representatives to assist you with your requirement.
UAE residents can avail Auto Finance for a maximum tenure of 5 years. Please note that at the time of finance maturity, the customer’s age should not exceed 65 years for expatriates and 70 years for UAE nationals. In addition, the vehicle age at finance maturity must not exceed 12 years.
Currently, ADCB Islamic Banking offers Auto Finance under Fixed Rate, in this arrangement ADCB and Customer agrees the profit rate / profit amount upfront for the entire finance period.
Auto Finance is offered under Murabaha structure. Murabaha is a cost plus profit sale whereby the asset (the car) is first purchased by the Bank and subsequently sold to Customer for a consideration of cost price (which is equal to the finance amount) plus profit amount. The cost price and profit amount constitute the Murabaha Sale Price. Customer will be required to pay the Murabaha Sale Price in installments over the tenor of financing pursuant to the terms of Murabaha finance contract.
Yes, you may partially or fully pay your Auto Finance at any time. However, ADCB Islamic Banking may charge an early settlement fee each time you make additional payments. Please visit the ADCB Islamic Banking Schedule of Fees on Charges & Fees - Personal Banking for the current early settlement fee structure.
The minimum Finance amount is AED 10,000 and maximum is 1,500,000. However, please note that the maximum Finance amount could vary according to Customer salary, credit score and other financial factors affecting the Auto Finance eligibility.
No, it is not a mandatory requirement to transfer your income to ADCB Islamic Banking. However, the Bank may offer additional benefits to customers who are willing to transfer their income to ADCB Islamic Banking such as reduced profit rates, discounts etc.
18 years or older for UAE residents (National / Expatriates)
All salaried UAE residents (UAE Nationals and Expatriates) earning a regular minimum income of AED 5,000, are eligible to apply for an ADCB Islamic Banking Auto Finance. The applicant must be aged 18 and above to be eligible for an Islamic Auto Finance from ADCB.
