| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
NBQ - Auto Loan
|
Minimum Salary: AED 0 | Salary Transfer: No | Early Settlement Fees: 1% | Maximum Term: 5 Years | Flat Rate: - | Reducing Rate: 2.75% |
The NBQ Auto Loan offers you the chance to buy the new car of your dreams. With loans of up to AED 500,000 and repayment periods of up to 60 months, we can offer you an attractive rate of interest (starting at just 2.75% per annum) and a free VISA Classic or Gold Credit Card.
For all customers
Features:
- Car loan amount up to AED 500,000
- Available on new vehicles only
- Flexible Repayment period
- Attractive rate of interest (starting at 2.75% per annum)
- Free VISA Classic or Gold Credit Card
Eligibility:
- UAE Nationals with salary transfer
- No minimum service period criteria
- Minimum salary criteria apply
- UAE Nationals and Expatriates without salary transfer
- Available to customer minimum 21 years of age and 60 years of age at maturity of a loan
- Minimum length of service of 1 year with current employer
- Minimum salary criteria apply
- Self-employed individuals and businesses
- Minimum length of time in business for 1 year
For all customers
- Application form and agreement Kit to be completed
- A copy of your passport & Emirates ID
- A copy of the residency visa (if applicable)
- Proof of address or business address (e.g. utility bill, tenancy contract)
- Any other documents at the discretion of the Bank
- 3 months bank statements
- A salary certificate and a copy of most recent pay slip
- A valid copy of passport and Emirates ID
- 6 months bank statements of Business Account
- Other documents may be requested at the discretion of the bank
- Processing Fees: 1% of Loan Amount with minimum AED 500 & maximum AED 2,500
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
