Auto Finance-i

Drive off in your dream car with the help of Singapore’s first Auto Finance-i.

Maybank’s Auto Finance-i is based on the Shariah concept of Al Ijarah Thumma Al Bai (AITAB). AITAB is a leasing contract (Ijarah) followed by sale contract (Bai’). Under the leasing contract, the customer leases the vehicle from the Bank at an agreed rental payment over a specific period. Upon expiry of the leasing period, the customer enters into a sale contract to purchase the vehicle from the Bank at an agreed price.

Key info
  • Financing of up to 70% of the purchase or valuation price, whichever is lower
  • Financing for up to 7 years*
  • Attractive profit rates (flat-rate scheme)
  • Fixed monthly rental payments throughout your payment period
  • GIRO payments available for your convenience

 

APPLY NOW

*For used cars, the following shall apply:

Age of Car

Margin of Financing

Tenure

Less than 10 years old

Up to 70%

  1. Maximum 7 years;
    Age of car + tenure
    must not exceed 10 years

More than 10 years old (not exceeding 20 years old)

Up to 70%

  1. Maximum of 7 years for revalidated COE of 10 years^
  2. Maximum of 4 years for revalidated COE of 5 years^

^Tenure must not exceed maturity period of COE

Who can apply

  • Singapore Citizens, Singapore Permanent Residents, Foreigners
  • Foreigners with Employment Pass must appoint a local guarantor
  • At least 21 years of age

Documents required

  • Sales/Purchase Order
  • Photocopy of your NRIC/Passport
  • One of the following income documents
    • Latest computerised payslip
    • CPF Statement of Account, or
    • Latest Income Tax Notice of Assessment
  • For used cars
    • Transfer of Vehicle Ownership (Acknowledgement), or
    • PARF/COE Rebate Enquiry
  • Your contact number(s)

To apply, contact us or download the Hire Purchase Application Form (PDF) here.

Questions? Our FAQs may help.