Popular Car Loans
Emirates NBD Fixed Deposit Used Auto Loan
- Repayment period is up to 60 months
- Interest rate for the given finance is 4.9%
- Minimum salary requirement is AED 18,000
- 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
- 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. Does my age and occupation matter while applying for car finance in Emirates NBD?
A. Yes, you need to be at least 18 years old and should meet bank’s minimum salary requirement to apply for car finance in Emirates NBD.
Q. What all documents are required to apply for vehicle finance in Emirates NBD?
A. To apply for vehicle finance, we need following documents:
1. 20% down payment is required
2. You should have valid passport and residence visa
3. 3 months latest bank statement
4. Quotation that is addressed to Emirates NBD Bank
Q. Am I allowed to transfer my car loan multiple times?
A. It is not advisable as it leaves a wrong impression.
Q. Does bank offer us what we ask for?
A. No, bank only offers 80% of a car value.
Q. Does taking vehicle finance mean I can’t apply for any other loan?
A. No, you can apply for other loans. However bank will examine your repayment capacity while giving you loan.
Emirates NBD Bank
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
- Passion For Performance