Auto Loan
Getting the car you've always dreamed of is now much easier than you think with an NBF Auto Loan. Just choose the vehicle of your choice and we'll take care of the rest.
Also, if you're thinking of switching to a fuel-efficient, eco-friendly car, now is the time with a Green Auto Loan from NBF.
Product Features
- Fast approvals
- Flexible repayment periods of up to five years
- Up to AED 1,000,000 in financing
- Financing of new and pre-owned cars
- Financing of up to 80% of the vehicle's value
- Fixed financing terms at competitive rates
- Interest rates from as low as 2.50% p.a. for NBF Green Auto Loan
Required Documents
When you visit an NBF branch, you'll need to complete an application form. You will also need to provide (where applicable):
- A copy of your valid passport
- A copy of your valid residency visa (for expatriates)
- A copy of your current dated salary certificate (less than 30 days old)
- A copy of your valid driving license
- A quotation of the vehicle's value, addressed to NBF
Rates
| Interest rate | Starting from 2.75% p.a. |
|---|
Frequently asked questions
Am I allowed any deferrals?
Yes, you are allowed one deferral a year, subject to certain criteria being met.
Can I change (increase or reduce) the tenor of the loan?
Yes, this can be done as per the existing policy guidelines.
How long do I have to have worked at my current employer to be eligible for an NBF Auto Loan?
You must have worked for your current organisation for a minimum of six months. This needs to be confirmed by your employer.
How many vehicles can I finance with NBF?
For UAE Nationals, there is no maximum cap on the number of vehicles that you can finance with NBF, as long as the maximum debt burden ratio requirement is met. If you are an expatriate, you can finance up to two vehicles with us.
How much will I be charged if I settle the loan before the maturity date?
Please refer to the Schedule of Charges for the early settlement fees.
What down payment do I have to make when applying for an NBF Auto Loan?
The down payment requirement is 20% for new and used cars, irrespective of the tenor.
What is the maximum allowed vehicle age at the time of loan application?
Vehicle age at the time of loan application should be no more than three years.
What is the maximum allowed vehicle age at the time of loan maturity?
Your car should not be more than seven years old when your auto loan matures.
What is the maximum financing available to me?
We can provide you with up to AED 1,000,000 in auto loan financing as long as the maximum debt burden and minimum down payment requirements are met.
What is the maximum tenor over which I can repay my NBF Auto Loan?
If you are financing a new vehicle, the maximum tenor is five years.
