Minimum Salary Salary Transfer Early Settlement Fees Maximum Term Flat Rate Reducing Rate
BMI Bank Car Loan BMI Bank Car Loan Minimum Salary: BHD 250 Salary Transfer: Yes Early Settlement Fees: - Maximum Term: 7 Years Flat Rate: 2.66% Reducing Rate: 4.79%
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BMI Bank Car Loan Features:
  • Interest rates starting from 2.66%
  • Salary transfer is optional
  • Minimum Salary required is BHD 250 for Bahrainis and BHD 300 for expats
  • Maximum term is 7 years
  • Maximum loan amount will be on a case to case basis
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
Minimum Salary
BHD 500
Flat Rate
2.65%
Khaleeji Commercial Bank - Auto Finance
Minimum Salary
BHD 250
Flat Rate
4.3%
SCB Auto Loan
Minimum Salary
BHD 300
Flat Rate
3.5%
Al Baraka Islamic Bank Auto Finance
Minimum Salary
BHD 400
Flat Rate
2.88%