National Bank of Fujairah launches Green Auto Loan with attractive pricing options
New offering underscores bank’s commitment to driving environmental initiatives
National Bank of Fujairah(NBF) PJSC announced the launch of a Green Auto Loan product in line with its commitment to support the UAE’s drive transformation into a low-carbon economy as part of the UAE government’s 2021 sustainability agenda.
Launched within the Go Green initiative, the bank builds on the strong interest from UAE residents towards hybrid and electric vehicles by making car financing more accessible than ever. With this new offering, the bank continues to cement its position as the financial partner that is committed to fulfilling its clients’ changing needs – both on a personal and professional level – while encouraging them to invest in environmentally friendly solutions.
Customers who are UAE nationals and expat residents aged 18 years are eligible to apply for the Green Auto Loan. NBF’s Green Auto Loan offering has a low interest rate of 2.2% with flexible repayment periods of up to five years. As a customer-centric bank, NBF has also integrated fast approvals, insurance at attractive rates and up to AED 1,000,000 in financing.
Commenting on the launch, Vince Cook, NBF’s CEO, said: “We are witnessing a progressive transformation towards increased sustainability and we are happy that UAE’s 2021 Sustainability Vision is driving that change. We realise that banks such as NBF have a big role to play in accelerating this change by making significant capital available to support these green initiatives especially with hybrid and electric cars being available at higher price points. As a bank dedicated to the interests of the economy, we are committed to being among the players that are taking part in contributing to a sustainable and low-carbon future.”
“The Green Auto Loan represents our focus to adapt and launch propositions that help fulfil the modern needs of our clients who care about their environment by extending a financially attractive offering. The new proposition sends a strong message that our partnership with clients goes beyond meeting their financial requirements, and that we play a pivotal role in raising awareness about issues of mutual interest such as fueling economic prosperity and building a greener environment.”
Being a signatory to the Dubai Declaration on Sustainable Financing since early 2017, NBF is a leading supporter of environmentally friendly projects. Bolstering its commitment to Year of Zayed, the bank was responsible for driving several environmental initiatives such as its inaugural event entitled “Plant with Us” dedicated to raising awareness on environmental conservation and sustainability. Moreover, in 2017, NBF became the sponsor of the “ENABLE Mobile Store”, a truck staffed by Emirati people of determination which tours the UAE to sell plants in support of social inclusion and environmental awareness.
About National Bank of Fujairah PJSC:
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’a compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1/Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB+/A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 18 across the UAE.
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