If you’re looking for a hassle-free application process, NBAD Auto Loans are not only convenient but as delightful as your first drive in your new car.
- NBAD Auto Loan Features:
- High loan amounts.
- Competitive Interest Rates.
- Available for new and pre-owned vehicles, salaried and self-employed individuals, NBAD and non NBAD customers.
- Flexible repayment period up to 60 months.
- 100% financing of car insurance premium.
- Hassle-free Loan application process.
- Processing Fee is 1% of the loan amount.
- Early settlement fees is 1%
- If salary if transferred and company is listed then: From 4.75% p.a. on reducing loan balance
- If salary if not transferred and company is not listed then: From 5.62% p.a. on reducing loan balance
- AED 7000 – If salary if transferred and company is listed.
- AED 5000 – If salary if not transferred and company is not listed.
- A copy of your passport.
- Salary certificate/salary transfer letter/proof of income (if self employed).
- Bank statement (if you’re not already an NBAD customer).
Minimum 6 months in service – If salary if not transferred and company is not listed.
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.