|
 |
News |
 |
|
| |
Email this article | 
Print
This Page
|
| |
Dubai Islamic Bank launches 'Flexi Drive' |
| |
5/6/2006 10:07:59 AM |
| |
| |
Branded as Al Islami Flexi Drive, this unique finance option is based on the principles of 'Residual Value Financing' which has inherent strengths of lowering the monthly installments and offering residual value of the vehicle to customers.
In Residual Value Financing, the customer has the choice to split the auto amount into two parts and pay monthly installments on the first part like any normal auto-loan ranging from 12 - 36 monthly installments. After the completion of this tenure, the customer has three options for settling the balance amount.
He can either pay off the balance amount to DIB, or sell-off the car at market value and repay the balance amount to DIB or continue with slightly higher monthly installments for the second part of the deal.
Ali Rahim, Head of Retail Products, DIB, said:
'At DIB we believe in customer-delight and our new offering has every possible benefit that a customer can think of. Al Islami Flexi Drive has been conceptualized keeping in mind the values of Murabaha, thereby allowing the customer the benefits of lowest possible installments on vehicle financing. Besides there is zero down-payment option, extending the tenure up to 60 installments and finance available for insurance and services that make up Al Islami Flexi Drive really attractive.'
'Al Islami Flexi Drive is flexible in the real sense of the word, as it allows customers a wider and greater choice of vehicles that they can finance thereby improving their lifestyle and attaining their aspirations,' he added.
DIB will be offering this option to DIB account holders as well as customers transferring their salaries to other bank accounts. |
| |
ameinfo.com |
news |
| |
Email this article |
Print
This Page
|
|
 |
| |
|
| Upcoming Events |
 |
|
| Upcoming Sports |
 |
|
| Featured Links |
| |
|
|
|
