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Hit the road

At Al Hilal Bank, we can deliver your dream car in a way that is not only quick and easy but also true to Shariah values. Our Auto Finance products are designed to be convenient yet competitive.

Features & Benefits

  • Shariah compliant
  • Fast and simple approval process
  • Competitive profit rates
  • High finance amount
  • Flexible tenure of up to 5 years
  • No hidden documentation and study fee
  • No salary transfer required
  • Joint income possibility (with blood relatives only)
  • Vehicle registration on 3rd party name (with blood relatives only)

New Vehicle Financing

Al Hilal Bank puts your car buying plans into overdrive. If you are looking to buy a brand new vehicle from a franchise dealer, we can buy the vehicle under our New Vehicle Finance product and sell it to you at a cost including an agreed profit through the Shariah contract of Murabaha or on a specific sale price through Musawamah.

Shariah Contract

We follow two different Shariah structures for our vehicle finance Product.

Murabaha

Murabaha is a Shariah compliant sale where the seller (in this case Al Hilal Bank) discloses the true cost incurred in acquiring the vehicle and then sells the same to the Murabaha buyer (in this case Al Hilal Bank customer) for an agreed profit. The buyer is aware of the cost and profit amount.

Musawamah

Musawamah is a general and common kind of sale in which price of the vehicle to be traded is bargained between the seller and the buyer. Unlike Murabaha, the seller in Musawamah is not bound by the Sharia'a to disclose the cost incurred and the profit made out of such a transaction. Both the parties negotiate on the price. Musawamah can be used where the seller is not willing to disclose the exact cost of vehicle the seller is offering to sell.

Eligibility & Required Documentation

  • Minimum salary requirement of AED 5,000
  • Down payment requirement of 20%
  • A valid passport
  • Residence visa page (as applicable)
  • Latest 3 months bank statements
  • Quotation addressed to Al Hilal Bank
  • Any other additional documentation which may be required thereafter according to the Al Hilal Bank policies and procedures

Other terms and conditions apply

Used Vehicle Financing

If you are interested in purchasing a used/pre-owned vehicle, Al Hilal Bank can buy the vehicle under Used Vehicle Finance product and sell it to you at a cost including an agreed profit rate through the Shariah contract of Murabaha or on a specific sale price through Musawamah.

Shariah Contract

We follow two different Shariah structures for our vehicle finance Product.

Murabaha

Murabaha is a Shariah compliant sale where the seller (in this case Al Hilal Bank) discloses the true cost incurred in acquiring the vehicle and then sells the same to the Murabaha buyer (in this case Al Hilal Bank customer) for an agreed profit. The buyer is aware of the cost and profit amount.

Musawamah

Musawamah is a general and common kind of sale in which price of the vehicle to be traded is bargained between the seller and the buyer. Unlike Murabaha, the seller in Musawamah is not bound by the Sharia'a to disclose the cost incurred and the profit made out of such a transaction. Both the parties negotiate on the price. Musawamah can be used where the seller is not willing to disclose the exact cost of vehicle the seller is offering to sell.

Eligibility & Required Documentation

  • Minimum salary requirement of AED 5,000
  • Down payment requirement of 20%
  • A valid passport
  • Residence visa page (as applicable)
  • Latest 3 months bank statements
  • Quotation addressed to Al Hilal Bank
  • Any other additional documentation which may be required thereafter according to the Al Hilal Bank policies and procedures
  • Other terms and conditions apply

Shariah Certificate

To view the Shariah Certificate for New Vehicle Financing, please click here.

To view the Shariah Certificate for Used Vehicle Financing, please click here

Automative Finance
Click on the text box to enter your desired value. AED
AED 30,000 AED 500,000
Months Click on the text box to enter your desired value.
12 60
Monthly Installment
AED 0
Profit Rate: 2.35% p.a.
Terms and conditions apply
Profit rate vary by tenor & subject to bank policy

A superior banking experience awaits you.

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