Car Loan Calculator

Dubai Islamic Bank Car Loan Calculator

Dubai Islamic car finance department is offering car loans to consumers for procuring their dream cars. Operating in compliance with the fundamentals of shariah, Dubai Islamic bank car financing is based on the Islamic concept of diminishing musharka or ijarah modes of finance. DIB is a very active bank when it comes to consumer financing. It has a considerable market presence in auto financing and is considered to be one of the best banks for car financing. It is, as of now, the only Islamic bank which has offered personal loans based on Islamic modes of financing. DIB Car loan has very lenient terms and conditions, owing to the rules of shariah. For instance, no Islamic bank can charge you a rental if you have not received the vehicle. No Islamic bank, as a matter of shariah principle, can charge you any rental for a vehicle that has gone out of operation or has been stolen.

Dubai Islamic Bank Car Lease operates according to the diminishing musharka mode which is based on the concept of joint ownership/partnership. The customer share is treated as the customer’s share/investment. While the bank’s financing is treated as the bank’s share/investment. The monthly rental includes the principal installment plus rental amount plus takaful installment. The principal installment is the customer purchasing the bank’s share in units while the rental amount is the rent you pay for using the bank’s share. The Dubai Islamic car finance can also be based on the Ijarah mode of financing which is simply a rental agreement and the customer is not treated as a joint owner of the vehicle. Nearly all Islamic banks now offer only diminishing musharaka for vehicles. Dubai Islamic Bank has facilitated its customers by providing a loan calculator on its website. Here is how you can benefit from the Dib Car Loan calculator.

How to use the Dubai Islamic Bank Car Loan Calculator?

Below we provide easy steps for using the Islamic Bank car loan calculator by DIB:

Step 1: Click on the Dubai Islamic Bank Car Calculator H3

On DIB’s webpage for auto-financing click on the calculator titled “Auto Finance Calculator”.

Step 2: Select Purpose of Financing

On the interface of the Islamic Bank Car Loan Calculator select the purpose of financing; New Vehicle, Used Vehicle, Home Finance, or Personal Finance. Click on New Vehicle if you want to avail Dubai Islamic Bank Car Finance for purchasing a new vehicle, click on a used vehicle if you want to avail Dubai Islamic Bank car financing for procuring a used vehicle.

Step 3: Select Make

If you have clicked on a new vehicle, use the drop-down menu to select the make of the vehicle you want to finance through a DIB Car loan. For instance, if you want to finance a Suzuki car, select Suzuki from the drop-down menu of the Dubai Islamic Bank car calculator in Pakistan. If you want to finance a used vehicle through DIB Car finance then click on “Used Vehicle”.

Step 4: Select Model

Once you have selected the make of the vehicle which you want to avail under the Dubai Islamic Bank Car Lease facility, use the drop-down menu to select the model you want to finance through DIB Car Finance. For instance, you want to finance Suzuki cultus, then select cultus from the menu. All variants of all makes are available in the drop-down menu of the Islamic Bank Car loan calculator. If, however, you opted for a used vehicle then this option is not applicable.

Step 5: Select Financing Period

Once you have selected the car and the model, the Dubai Islamic Bank Calculator will automatically fill in the current price of that car. From the drop-down menu select the financing period of the Dubai Islamic Bank Car financing. The maximum tenure for 1000 CC vehicles or smaller is 7 years, while that for vehicles above 1000 CC is 5 years. The allowable tenor of used vehicles may vary according to the year of manufacturing of the vehicle. Usually, it is not more than 5 years for any engine size.

Step 6: Select Customer share

From the drop-down menu of the Dubai Islamic bank car loan calculator select your participation i.e the amount you are willing and able to contribute. For 1000 CC cars or smaller, the minimum permitted contribution is 15 % while for vehicles larger than 1000 CC the minimum permitted contribution is 30 %. These requirements may vary from bank to bank if you are financing used or imported vehicles. Move to the next menu in the Dib Car Loan calculator.

Step 7: Press Calculate

Once you have filled in all the necessary information in the Dubai Islamic Bank Car Calculator, click on the “Calculate” button. The Dubai Islamic Bank Car Loan Calculator will calculate and show you the results for your tentative monthly rental. Please note that this rental does not include a takaful installment. It only includes your monthly principal repayment and monthly rental.


Dubai Islamic Bank Car financing is a beneficial way of procuring the vehicle you dream of. Do not worry if you cannot afford the entire invoice price, you can contact the DIB Car Loan department and they will provide you with all the necessary information. You can also use the Islamic Bank Car loan calculator provided by Dubai Islamic Bank on their webpage for DIB Car finance to get an estimate of what your monthly installment will be. You can select any locally assembled car and the calculator will pick up the current price of that vehicle itself. Eligibility requirements and a list of required documents are also available online. The turn-around-time of loan approval of DIB is around 15-30 days subject to submission of complete documents and a clean credit report of the borrower. When it comes to auto loans, DIB is one of the best banks in Pakistan.

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