New Car

New Car Loan

Overview

  • Buy now and Pay in 2019
  • Competitive interest rates starting from 2.75% p.a. (flat rates). Reducing rate of 5.19% p.a.
  • High financing amounts up to AED 500,000
  • Fast and Easy processing
  • Maximum tenor up to 60 months

Whether it’s a sporty roadster or a practical SUV, nothing quite matches the feeling of exhilaration racing through your veins the first time you take your car for a drive. It’s a combination of that new car smell; the pride in its pristine condition; the admiring glances from those around you. 

That said, buying a new car is a big commitment – especially if you’re worried about your budget. As the bank that cares, we’ll ease your mind with a loan allowing you to buy the ideal car for your lifestyle. Stop dreaming, start driving!

Fees and Tariffs

Loan processing fee  
1.05% of loan amount (min AED 525 - max AED 2,625)  
Early settlement charges  
1.05% of remaining balance  
Partial settlement fee/Advance payment of installment  
1% of amount paid  
Instalment postponement charges  
AED 105 per deferment  
Change of due date on Standing Instructions  
AED 26.25  
Loan rescheduling fee  
AED 262.50  
Late payment penal charges  
AED 525  
Loan Cancellation Fee  
AED 105  
Issuance of Liability letter  
AED 63  
NOC to Traffic department  
Nil  
VAT  
Fees & Charges are in line with UAE Central Bank policies and inclusive of VAT (Value Added Tax)  

Eligibility

Applicants must be:

  • Earning at least AED 5,000 per month
  • A UAE National or resident UAE expat
  • Older than 21 years
  • Working at your current employer for at least six months (if salaried)
  • Less than 65 years at loan maturity (if you are a UAE National)
  • Less than 60 years at loan maturity (if you are a resident UAE expat)

Terms & Conditions

Terms & conditions apply

Terms & conditions apply. 

The bank reserves the right to change the interest rates, fees & tariffs, charges and terms & conditions at its own discretion, without any prior notice.

Discover more offers