Green Car Finance

Embrace a Greener Future with ADCB Islamic Green Car Finance

AED 1.5m Up to

Finance amount

80% Up to

Finance of the car value

Financing

Of Electric chargers and related accessories

Keep in mind

The rate mentioned on this page is applicable for Excellency/ Emirati Excellency customer segments. The applicable rate shall vary depending on customer segment and profile.
Auto finance is available subject to ADCB Islamic Banking terms and conditions. This will be upon the submission of acceptable documents.
Maximum finance of up to 80% of the vehicle’s value.

Key benefits to avail Green Car Finance

Environmentally Friendly Vehicles: Our Green Car Finance are specifically designed to encourage the purchase of eco-friendly vehicles such as electric vehicles (EVs) hybrids and plug-in hybrids. By choosing these vehicles, you contribute to reducing carbon emissions and minimizing your ecological footprint.
Lower Operating Costs: Investing in a green vehicle goes beyond environmental benefits. Electric vehicles (EVs), hybrids and plug-in hybrids often have lower operating costs compared to traditional gasoline-powered cars. With our Green Car Finance, you can access these cost savings while enjoying competitive profit rates.
Long-Term Savings: The benefits of our Green Car Finance extend beyond the initial purchase. By opting for an electric vehicle (EVs), hybrids or plug-in hybrid, you can potentially save on fuel expenses, maintenance costs. Our finance facility help you maximize these long-term savings opportunities.
Commitment to Sustainability: By offering Green Car Finance, ADCB Islamic Banking is committed to supporting sustainable initiatives and fostering a greener future. We believe in the power of collective action, and together with our customers, we can make a positive impact on the environment while driving towards a cleaner and healthier planet.

Features

Terms and conditions

Approved by the Internal Shari’ah Supervision Committee

Documents Required

SR No	Salaried	Self-employed	Companies
1	Completed application form	Completed application form	Completed application form
2	Valid Passport, Visa & EIDA Card copy	Valid Passport, Visa & EIDA Card copy	Valid Passport, Visa & EIDA Card copy of company signatory
3	Valid Driving License copy	Valid Driving License copy	N/A
4	Salary certificate issued to ADCB, dated 30 days or less from date of loan application	Valid Trade License copy	Valid Trade License copy
5	Last 3 months bank statements copy	Last 3 months bank statements copy for both personal and company accounts	Last 3 months company bank statements copy
6	Quotation from Dealer	Quotation from Dealer	Quotation from Dealer
7	N/A	Valid Power-of-Attorney copy(if applicable)	Valid Power-of-Attorney copy(if applicable)
8	Details of existing loans/liabilities	Details of existing loans/liabilities	Details of existing loans/liabilities
Note: Bank Statements are NOT required if customer’s salary is transferred to ADCB or if business account (for Self-Employed customers or Company) is with ADCB

Important Note

If you do not keep up your payments, you may lose your car. This is because the car is mortgaged to the bank as security and the bank has the right to enforce the security.
If you settle the financing early, then you may have to pay early settlement charges. This is in accordance with finance documentation.
If you do not meet payment requirements under the financing facility, your account will go into arrears. You might be required to pay the donation amount as per financing documents. Such amount shall be paid to charity (after the deduction of any actual loss that the bank may have suffered due to your default).
Green Car Finance is aligned to ADCB Islamic Banking’s Sustainability Strategy and our ambition to support retail customers to adopt sustainable lifestyles and reduce their overall carbon footprint.

Frequently asked questions

What are Green Car Finance?

Green Car Finance are specially designed financing options offered by our Bank to encourage customers to purchase environmentally friendly vehicles, such as electric vehicles (EVs) hybrids and plug-in hybrids.

What types of vehicles are eligible for Green Car Finance?

Green Car Finance are specifically intended for environmentally friendly vehicles, including electric vehicles (EVs), hybrid and plug-in hybrids. These vehicles must meet our Bank's criteria for qualifying as eco-friendly.

What are the benefits of obtaining a Green Car Finance?

Opting for an eco-friendly vehicle may result in lower operating costs, long-term savings, and contribute to reducing your carbon footprint.

Can I use a Green Car Finance to purchase a used environmentally friendly vehicle?

Yes, Green Car Finance can be used to finance both new and used environmentally friendly vehicles, as long as they meet the Bank's eligibility criteria.

Are there any special payment terms for Green Car Finance?

The payment terms for Green Car Finance are similar to our standard vehicle finance. You can choose from various payment options and terms that best suit your financial situation and preferences.

Can I refinance my existing car finance into a Green Car Finance?

Yes, subject to approval, you may be able to refinance your existing car finance into a Green Car Finance if you meet the necessary eligibility criteria.

Auto Finance Calculator

Auto Value

AED

AED 12500 AED 1500000

Down Payment

20% 100%

You will need to pay AED as up-front payment for the Auto Finance.

Finance Amount

AED

Flat Profit rate

1.99 % 5 %

Tenure

Months

1 60

Monthly Installment

AED 0

Total profit paid during the Finance tenure is AED 0

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Disclaimer

The figures are based on indicative rates selected and are for illustrative purposes only. They do not apply to your finance. ADCB Islamic Banking rates are subject to change. The computation is based on simulated figures and several underlying assumptions and possible rounding-off of figures. Please consult your Relationship Manager/or visit the nearest branch or call 600 56 2626 to ensure that you receive complete information about our finance product.

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