Popular Car Loans
HSBC Used Car Finance
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.49%
- Minimum salary requirement is AED 7500
- The reducing rate and the flat rate is 7.29% and 3.49%. This denotes that the computation done was a division of the reduction rate by 1.814
- No salary transfer is required
- Maximum loan amount is AED 918,000 that HSBC bank can provide
- Early settlement fee is 1% of the finance amount
- Processing fee is 1% of the finance amount
- About 20% down payment is required for this finance
- High finance amount is provided by HSBC 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
- Dedicated sales manager will be there to assist you throughout the process
- No need to open account with HSBC bank
Frequently Asked Questions
Q. What are the possible condition because of which my loan can get rejected?
A. If a person has poor credit history or already has existing loans then risk of lending is high, because of which bank might reject your loan.
What are the factors that are checked by HSBC bank before giving loan?
A. Following are the factors that HSBC bank checks while giving loan to someone:
1. Vehicle cost
2. Income earned
3. Credit score
4. Year of car manufacture
Q. Why is it advised to refinance your existing car loan?
A. It is advised to refinance your existing car loan as you get advantage of lowering interest rates and monthly payments.
Q. Am I allowed to increase my car loan repayment in HSBC bank?
A. Yes, you just need to contact our collections department on 800 4560.
Q. How are rates charged for car loan decided in HSBC bank?
A. Rates charged are decided on the basis of your credit history, loan amount, monthly income and total debts.
In 1946, the British Bank of Iran and the Middle East commenced banking activities for Middle East citizens. Post withdrawing from Iran, the bank was renamed as the British Bank of the Middle East (BBME). Hong Kong and Shanghai Banking Corporation (HSBC) acquired BBME in 1959 and played a pivotal role in the establishment of the banking sector in the region. HSBC has a sustainability strategy of doing business. The main areas of focus are:
- Sustainable Finance
- Sustainable Operations
- Sustainable Communities
This is in sync with their global sustainability model.