Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
BisB Auto Finance BisB Auto Finance Minimum Salary: BHD 300 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: 7 Years Flat Rate: 3.85% Reducing Rate: 6.93%
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BisB facilitates the path of acquiring a Sharia’a compliant finance to possess the car that you desire. Whether a new or a used vehicle, BisB’s flexible Auto Finance helps you stay in the lead.

BisB Auto Finance Features:
  • Tenor: 7 Years
  • Salary Transfer: Optional
  • Interest rate is starting from 3% with salary transfer and 4.35% without salary transfer
  • Minimum down payment for New Cars is  10% for finance tenors of 6 and 7 years without salary transfer, otherwise optional and Second-hand Cars is 10% with or without salary
Eligibility:
  • Age of the Applicant: Above 21 year at the time of application and less than 60 at the maturity of the finance.
  • Minimum Monthly Income:  BHD 300
  • Minimum Work Experience: 4 months (employed) - 1 year of business (self-employed).
  • Maximum DSR (Debt Service Ratio): The total debts of the customer including all instalments, new instalment and 5% of the credit card and over draft limits, should not exceed 50% of the monthly income for individuals with salaries of BHD 3000 per month or less AND should not exceed 60% of the monthly income for individuals with salaries above BHD 3000 per month.
Documents Required:

Employed:
  • If you are an employee of an organization or institution, you will require the following documents:
  • Two valid Identifications.
  • Latest 3 months Pay Slip.
  • Latest 3 months Bank Statement.
  • Latest Salary Certificate.
  • Employment Contract (non Bahraini individuals).
  • Residence Permits (non Bahraini individuals).
  • Signed Promissory Note.
  • Signed Credit Report Bureau (CRB - Benefit) form.
  • Original quotation under the name of BisB.
Self-Employed:
  • If you are self employed, you will require the following documents:
  • A copy of 2 valid Identifications i.e. Smart Card and Passport or Driving License.
  • Latest 6 months Business Bank Statement.
  • Memorandum and Articles of Association.
  • Signed CRB (Benefit) form.
  • Original quotation under the name of the Bank.
  • Completed and signed finance application form.
Representative example:

If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:

Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710

Please note, the actual rate applied to your loan will depend on your circumstances.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
State Bank of India (Bahrain) - Auto Loan
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