United Arab Bank Car Loan in UAE
If owning a car in the UAE feels out of reach due to limited funds, you can consider the UAB car loan option. United Arab Bank is well-known for offering diverse banking products since its inception in 1975. It has multiple branches across the UAE and provides exceptional customer service.
Get Car loan at Lowest Interest Rate
With a United Arab Bank car loan, you can purchase your dream car with an easy application process and enjoy several perks, such as competitive interest rates, flexible loan tenure, and more.
Scroll down to understand various aspects of UAB auto loans in the UAE!
Top Car Loan Plans in Dubai
United Arab Bank (UAB) Car Loan: Overview
Saving up enough money to buy a car in the UAE can take years, but having access to a United Arab Bank car loan removes this obstacle. This loan is based on the Shariah concept of Murabaha and gives you an opportunity to get the required funds with fast approvals. With this, you can repay the finance amount in easy installments that ultimately prevent you from financial burden.
Furthermore, this car loan offers benefits like lower interest rates, flexible repayment tenure, minimal documentation, and much more. The bank also offers different types of car loans, such as conventional and Islamic, along with the Green Auto Loan option. Ultimately, it gives you the freedom to own your dream car and enjoy peace of mind.
Types of UAB Car Loans in the UAE
The main types of car loan options at United Arab Bank are as follows:
Auto Loan
This allows you to get a high finance amount for your dream car at a very low interest rate. It is packed with a range of perks to make the car-buying process easy.
Islamic Auto Finance
This car loan option comes under UAB Islamic Banking and finances new and used cars. It gives you immediate ownership of the car without any effort.
Green Auto Loan
The green auto loan at UAB is designed for electric and hybrid vehicles with affordable finance options. With this loan type, you can enjoy a 0.25% discount on the applicable auto loan rate and zero arrangement fee.
✍️Note: Keep in mind that the key features and eligibility criteria for each of these car loan types may differ. To ensure you are making an informed decision, always check the official website for the latest and most accurate information.
Key Features of United Arab Bank Auto Loan
The key features of the United Arab Bank car loan are as follows:
- Get a high finance amount up to AED 500,000
- Flexible repayment tenure, maximum of 60 months
- Low profit rate, starting from 5.62%
- No salary transfer is required
- Low down payment: as low as 20% of the car’s cost
- Hassle-free application process
- Exceptional digital banking solutions
- Minimal documentation
Eligibility Criteria to Apply for United Arab Bank Car Loan
If you are looking to apply for a UAB car loan, look at the following eligibility criteria:
| Eligibility | Specification |
|---|---|
| Minimum Age | 21 years old |
| Minimum Salary | AED 7,500 |
| Salary Transfer | Not Mandatory |
UAB Car Loan Calculator
The United Arab Bank car loan calculator is a convenient digital tool that helps you calculate monthly EMIs. It’s accessible from the comfort of your home. To use this digital calculator, simply enter some basic information, like loan amount, interest rate, and loan tenure—you will quickly get the estimated installment amount.
Additionally, this tool offers advantages, such as:
- Save your precious time
- Prevent yourself from complicated manual calculation
- Improves decision-making
Click here to know more about the car loan calculator in the UAE!
How to Apply for a Car Loan in the UAE?
With Paisabazaar.ae, it’s simple to apply for a car loan in the UAE. Follow the steps mentioned below to obtain a car loan quickly:
- Step 1: Go to the homepage of the website and click on the ‘Car Loan’ option
- Step 2: Enter the required information in the lead form
- Step 3: You will get a quote page with the best car loan options from the top providers
- Step 4: Use filters to compare features and benefits
- Step 5: Pick the most suitable option and click ‘Apply’
The process is completed! A representative will reach out to you shortly.
| Before Paisabazaar UAE | After Paisabazaar UAE |
|---|---|
|
⏳Spending hours searching for multiple car loans 🤷♀️ Struggle with unclear eligibility criteria 📉Missing out on better deals 🚶Running between multiple branches for comparison |
🔄Compare Car loan options easily in one place 💎Always get the best price 🎯Tailored for you 🧑🏫Expert Guidance |
Frequently Asked Questions
If you match the minimum eligibility requirements, such as being at least 21 years old, earning at least AED 7,500 per month, and having basic documentation, you can easily apply for a UAB car loan.
The green car loan option at UAB is for electric and hybrid vehicles. It offers many perks, such as car finance up to AED 500,000 or 80% of the car value, a 60-month flexible loan tenure, no salary transfer, and more.
If you miss a UAB car loan installment, you may suffer adverse consequences, such as a decline in your credit score, penalties, vehicle confiscation, and more.
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