Minimum SalaryAED 5000
Rate of Interest0% interest on selected car brands ( 2.69% normal rate)
Max. Term60 Months
Salary TransferNo
IslamicNo
0% Installment payment plan on Emirates NBD Credit Card for automobile purchases
Interest rate starting from 0%
Free Credit Card for 1st Year*
Convenient same day approval
Make your Auto Loans experience easy and hassle-free with our half-day approvals and easy documentation
The higher the credit score the more benefits you can enjoy e.g. faster processing, less paperwork, low interest rate, high loan amounts and credit limits
We've bundled an insurance package to your Auto Loan for you and your family's peace of mind
Avail a 1st year FREE premium Credit Card of your choice and enjoy its exclusive benefits. Existing card holders will gain the advantage of free renewal. *Applicable on Auto loan amount of AED 250K and above.
We understand that your values are very precious to you and that's why we are proud to bring you a new range of Islamic Banking products with all the features and benefits that you expect without having to compromise on your principles
The perfect option to reduce greenhouse gas emissions and noise pollution
You have an option of deferring your first payment up to 90 days to manage your funds and pay-outs with peace of mind. Applicable to Emirates NBD customers.
Enjoy preferential pricing on pre-owned cars of your favorite brands or fleet of cars in case of corporate requirements
0% offer is applicable up to 3 year loan tenor and low rate offered for 4 years tenor
**Offer applicable for Corporate and Fleet customer's only
0% offer is applicable up to 4 year loan tenor
0% offer is applicable up to 1 year loan tenor and low rate offered for 2 years to 5 years tenor
0% offer is applicable up to 5 year loan tenor
0% offer is applicable up to 3 year loan tenor and low rate offered for 4 years to 5 years loan tenor
Applicable for Salaried & Self-Employed banking borrowers only
Min salary AED5000
Min salary AED10000
Min salary AED3000
Car loans are available for both new and used cars in the UAE. Once you take a loan on a car it is mortgaged to the bank and technically belongs to them until you settle the loan. You will need to contact the bank to get the process started.
To apply for a personal car loan you will need copies of certain documents, including your passport, Emirates ID, labour card, salary certificate, three to six months of bank statements, and your driver license. Your vehicle registration card, a copy of insurance policy and a valuation certificate proving the value of the car will also be required.
The minimum salary requirement to apply for a car loan in the UAE is AED 5000-8000. The figure may vary at some banks, so check with your bank before you proceed.
Rates on car loans can be calculated in two ways - as a Reducing rate or as a Flat rate. With a flat rate, the rate is calculated on the entire principal amount of a loan ( full, original amount borrowed) whereas with a reducing interest rate, interest is charged only on the outstanding amount of the loan on a periodic basis. Flat interest rates are normally lower than the reducing balance rate and therefore considered misleading. When it comes to comparing loans, the best way to compare their true cost is to convert everything into the Reducing Interest Rate equivalent.
This depends on the individual bank but can be up to 60 months
Yes, your chances of getting auto finance are reduced drastically if you have a history of bad repayments. However, if your credit score has been increasing recently your chances may increase as well.
Yes, as a car owner you can sell your car back to your dealer or directly to another buyer. Since your car is kept as a mortgage by your provider/bank, you are supposed to clear out your outstanding loan and only then transfer the car to the new owner.
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