Emirates NBD Used Staggered Installment Plan

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emirates-nbd Bank

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Used Staggered Installment Plan

Minimum Salary

AED 5K

Flat Rate

4.9%

Reducing Rate

8.89%

Loan Amount

AED 250K

Early Settlement Fee

4%

Arrangement Fee

1%

Down Payment

20%

AED 5K

Minimum Salary

4.9%

Flat Rate

8.89%

Reducing Rate

AED 250K

Loan Amount

4%

Early Settlement Fee

1%

Arrangement Fee

20%

Down Payment

Features

  • Repayment period is up to 60 months
  • Interest rate for the given finance is 4.9%
  • Minimum salary requirement is AED 5,000
  • The reducing rate and the flat rate is 8.89% and 4.9%. This denotes that the computation done was a division of the reduction rate by 1.815
  • No salary transfer is required
  • Maximum loan amount is AED 250,000 that Emirates NBD bank can provide
  • Early settlement fee is 4% of the finance amount
  • Processing fee is 1% of the finance amount
  • About 20% down payment is required for this finance

Benefits

  • High finance amount is provided by Emirates NBD bank
  • Low minimum salary requirement is there for given finance
  • Finance can be provided for new as well as used cars
  • Maximum repayment period is of 60 months
  • Documentation is simple
  • Get advantage of starting with lower installments in the initial stage of the loan and then later increase the installments
  • Minimum salary requirement is low

Frequently Asked Questions

Q. What is the early settlement fee and how is it calculated for the given finance?

A. Early settlement fee for this finance is 1% of the outstanding amount to date which is profit + principal.

Q. What is the maximum and minimum age to apply for Emirates NBD auto finance?

A. Minimum age is 21 years and maximum age is 60-65 years upon maturity of finance.

Q. How does the profit rate vary for Emirates NBD auto finance?

A. Profit rates vary according to dealer from whom the car is purchased and the customer profile.

Q. What is the minimum salary requirement for Emirates NBD auto finance?

A. Minimum salary requirement for individual applicants is AED 5,000 and for joint applicants it is AED 10,000.

Q. What is the average monthly bank credit turnover needed for Emirates NBD auto finance?

A. The average monthly bank credit turnover needed for Emirates NBD auto finance is AED 50,000.

Emirates NBD

In 2007, Emirates Bank International (EBI) and the National Bank of Dubai (NBD), the second and fourth largest banks in UAE, merged to form the banking champion - Emirates NBD. With more than 200 branches and over 900 ATMs and Cash Deposit Machines (CDMs) across the country and overseas, it is globally recognized as the most valued financial services provider in the Middle East. On November 15, 2016, Emirates NBD took over Emirates Money Consumer Finance LLC, becoming a regional consolidation blueprint for banking and finance sector in the UAE.

Corporate Values of the Emirates NBD are:

  • Customer Focus
  • Service Excellence
  • Innovation
  • Passion For Performance
  • Integrity
  • Teamwork