Popular Car Loans
HSBC New Car Finance
- Repayment period is up to 60 months
- Interest rate for the given finance is 2.49%
- Minimum salary requirement is AED 7500
- The reducing rate and the flat rate is 4.6% and 2.49%. 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 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 if I am on social security, can I still be provided with loan?
A. Yes, HSBC does provide loan to people on social security.
Q. Will there be any additional costs charged on our car loan?
A. Along with car loan you need to pay few additional charges:
1. Processing fee
2. Documentation charges
3. Stamp duty
Q. Are there any vehicles that are not eligible for HSBC car financing?
A. Yes, HSBC bank does not offer finance for custom built vehicles.
Q. How much loan will I be able to afford?
A. Depending on your monthly income and expenditure, a general guide is only 20% of your salary should go in paying the loan amount.
Q. What is the minimum and maximum tenure provided for the given finance in HSBC bank?
A. Minimum tenure provided is 12 months and maximum is 60 months in HSBC bank.
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.