Commercial Bank of Dubai (CBD) Car Loan in UAE
Established in 1969, Commercial Bank of Dubai (CBD) is one of the leading banks in the UAE, offering a range of banking products for individuals and businesses. The bank is committed to accomplishing diverse needs of customers through its innovative and unparalleled services.
Get Car loan at Lowest Interest Rate
CBD car loans are among the most popular options for those seeking financing for car purchases. Buying a car can cost a fortune — this loan facility empowers you to drive your dream car without stressing about the costs.
Available to UAE nationals and expatriates, CBD car loans feature competitive interest rates, quick approvals, minimal paperwork, and more. If you want to know how it simplifies the car ownership process, keep scrolling!
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CBD Car Loan in the UAE - Overview
CBD car loan is a great option to help you finance your car without any hassles. This enables you to repay the loan amount in easy installments—preventing you from financial strain and offering peace of mind.
Furthermore, with the CBD auto finance facility, you can enjoy a number of perks, including a low interest rate, a high finance amount for new and used cars, flexible repayment tenure, and more.
Key Features of CBD Auto Loan
The following are the key features of a CBD car loan:
✔️You can easily apply for a car loan with fast processing
✔️Car finance up to AED 500,000
✔️It offers flexible repayment tenure up to 60 months
✔️Requires a minimum down payment of 20% of the car value
✔️You can enjoy competitive interest rates on car loan
✔️A deferment facility is also available
✔️No hassles in documentation
✔️Unparalleled customer service
Eligibility Criteria for CBD Auto Loan
To obtain a CBD car loan, you must meet the following eligibility criteria:
| Eligibility Criteria | Specifications |
|---|---|
| Nationality | UAE Nationals and Expats |
| Minimum Salary | AED 8,000 |
|
Age |
For UAE Nationals- Between 21 to 65 years |
| For Expatriate- Between 21 to 60 years |
Required Documents for CBD Car Loan
Below is the list of documents you must submit while applying for a CBD car loan in the UAE:
- Identity proof, such as a passport, residence visa, and Emirates ID
- 3 months' bank statements (for new customers)
- Salary certificate
- Driver’s license
- Car quotation
- Security cheque (amount should not exceed 120% of the loan amount)
✍️Note: Additional documents may be requested by the bank to process your application smoothly.
CBD Car Loan Calculator
Gone are the days of mentally juggling numbers to estimate monthly installments. With the CBD car loan calculator, it becomes easy to calculate car loan EMIs without any manual errors.
This user-friendly tool is accessible anytime and anywhere. Simply input the loan amount, interest rate, and tenure, and voilà- you will get the estimated amount in just a blink. Not only does it save you valuable time but it also offers several other benefits, including better financial planning, accurate calculation, and peace of mind.
How to Apply for a Auto Loan in the UAE?
Applying for an auto loan has never been easier. With Paisabazaar.ae, you can follow these simple steps to apply for a car loan—
- Click on ‘Car Loan’ on Paisabazaar.ae’s homepage
- Enter the required details in the lead form
- Explore different car loan quotes on the page
- Choose one that is ideal for you and hit the ‘Apply’ button
- It’s done! One of our representatives will call you shortly
Frequently Asked Questions
You must be at least 21 years of age to get a CBD car loan in the UAE.
The CBD bank charges 1% as processing fees on the total loan amount or a maximum of AED 2,625.
Yes, the bank offers an auto finance facility for used cars.
Yes, the CBD car loan facility is available for both UAE nationals and expats.
In case you miss CBD car loan installments, you can face adverse consequences such as a drop in your credit score, a fine from the bank, confiscation of your car, and more.
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