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Emirates NBD Used Auto Loans for Self Employed
This product is valid by the Bank
Used Auto Loans for Self Employed
Early Settlement Fee
- Repayment period is up to 60 months
- Interest rate for the given finance is 3.15%
- Minimum salary requirement is AED 25,000
- The reducing rate and the flat rate is 4.52% and 3.15%. 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 750,000 that Emirates NBD 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 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. Do I need to have good credit history to apply for Emirates NBD used car loan ?
A. No, if you have bad credit history then bank might charge higher interest rate or offer less competitive deals.
Q. Can I get a loan if I’ve been declared bankrupt in past?
A. Yes, you can get loan if have been declared bankrupt in past but you may be charged higher rate of interest because the lender may evaluate you as being at a greater risk of not keeping up with repayments.
Q. What is the tenure for used car loan is Emirates NBD?
A. Tenure for used car loans in Emirates NBD is up to 60 months.
Q. What is the processing time for the given loan?
A. After submitting all the documents, bank takes 3-7 days in processing the loan and getting it sanctioned.
Q. How much car loan will I be eligible for in Emirates NBD?
A. For the given finance you can get up to 80% of the car value as loan amount.
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