• What is an Auto Loan?

  An Auto Loan is basically a loan supported by any financial institution in order to purchase a vehicle. With an Auto Loan, you are not paying on the depreciation of the vehicle like you do with a lease. You are paying on the vehicle purchase price plus interest.

• What are the documents required to apply for an Auto Loan?
  • Signed AECB form
  • Passport-visa
  • Emirates ID
  • Valid quotation
  • Driving license
  • Salaried individuals
    • Salary certificate
    • Bank statements
  • Self-Employed individuals
    • Trade license
    • Bank statements
  • Companies
    • Trade license
    • Bank statements
    • List of authorized signatories on company behalf (wherever applicable)
    • MOA

   

• How do I apply for an Auto Loan?

  An Auto Loan from Emirates NBD can be applied through the following channels:

  • Branches
  • Direct Sales Team.
  • Online Banking
  • Contact Centre 24/7

   

• What is the eligibility criteria for applying an Auto Loan?

  The eligibility criteria for apply an Auto Loan are as mentioned below:

  • Salaried Segment
  • Self Employed / Companies
  • AED4K (ALE with Salary Transfer or Non ALE with Salary Transfer and good CASA score)
  • AED 5K (Non ALE, Salary Transfer or ALE, Non Sal Transfer)
  • AED 7K (Non ALE & Non STL) or Private deals)
  • AED 15K (Used sports cars)
  • Min Average Balance of AED 20K

   

• Can I get an Auto Loan without a down payment?

  Down payment is mandatory for all Auto Loans. However down payment support can be extended through Emirates NBD Credit Card plans depending on Banks Discretion.

  • Individuals: 20%
  • Sports Cars (New): 25%
  • Companies: 10% (0% down payment option also available for companies)

   

Show More

• What is an Auto Loan?

  An Auto Loan is basically a loan supported by any financial institution in order to purchase a vehicle. With an Auto Loan, you are not paying on the depreciation of the vehicle like you do with a lease. You are paying on the vehicle purchase price plus interest.

• What are the documents required to apply for an Auto Loan?
  • Signed AECB form
  • Passport-visa
  • Emirates ID
  • Valid quotation
  • Driving license
  • Salaried individuals
    • Salary certificate
    • Bank statements
  • Self-Employed individuals
    • Trade license
    • Bank statements
  • Companies
    • Trade license
    • Bank statements
    • List of authorized signatories on company behalf (wherever applicable)
    • MOA

   

• How do I apply for an Auto Loan?

  An Auto Loan from Emirates NBD can be applied through the following channels:

  • Branches
  • Direct Sales Team.
  • Online Banking
  • Contact Centre 24/7

   

• What is the eligibility criteria for applying an Auto Loan?

  The eligibility criteria for apply an Auto Loan are as mentioned below:

  • Salaried Segment
  • Self Employed / Companies
  • AED4K (ALE with Salary Transfer or Non ALE with Salary Transfer and good CASA score)
  • AED 5K (Non ALE, Salary Transfer or ALE, Non Sal Transfer)
  • AED 7K (Non ALE & Non STL) or Private deals)
  • AED 15K (Used sports cars)
  • Min Average Balance of AED 20K

   

• Can I get an Auto Loan without a down payment?

  Down payment is mandatory for all Auto Loans. However down payment support can be extended through Emirates NBD Credit Card plans depending on Banks Discretion.

  • Individuals: 20%
  • Sports Cars (New): 25%
  • Companies: 10% (0% down payment option also available for companies)

   

• What is minimum and maximum age limit for availing an Auto Loan?

  The Minimum age for availing an Auto Loan 21 years. However, Loan to Minor (Natural or Legal guardian to be the co-borrower)

  • Attested copies of guarantor & co borrower documents as listed below
  • Co-borrower's valid Passport and visa page
  • Income documents (If applicable)
  • If Co-borrower is a company, then MOA & TL to be obtained. Passport copy of partners to be obtained.

   

• How many Auto Loan deferrals can I avail per year?

  Maximum 2 deferments permitted per loan year. 1 deferment should be during promotion period. This facility is available only for customers with direct debit as mode of payment.

  • Deferment charges are AED 100 per deferment.

   

• How do I release the bank mortgage on my car?

  Mortgage release through e-mail or Emirates NBD Call centre

  You can release the mortgage on your car through e-mail to customersupport@emiratesnbd.com or Emirates NBD call centre. This service is free of cost.

  • Send the request from the e-mail address registered with the bank.
  • Mention Auto loan Agreement ID or 20 digit Auto loan account number along with the registered mobile number with the bank.
  • Mention "Auto Loan Mortgage Release" as e-mail subject line
  • Attach a clear scan image of the documents as mentioned below:

   

  For Dubai registered vehicles

  • Vehicle mulkia copy only (both sides)

   

  For Abu Dhabi, Al-Ain, Sharjah and other Emirates' registered vehicles

  • Vehicle mulkia copy (both sides)
  • Emirates ID or Trade License copy in case vehicle is registered in company's name.

  Mortgage release through Emirates NBD branch

  You can release the bank mortgage on your car once you have settled your loan outstanding in entirety.

  In order for the bank to process the release, the following will be required:

  Visit to the nearest Emirates NBD (non-mall) branch and submit the Request for Mortgage Release with the following documents:

  For Dubai registered vehicles

  Vehicle mulkia and Emirates ID (original)

  For Abu Dhabi, Al-Ain, Sharjah and Other Emirates' registered vehicles

  • Vehicle mulkia (original)
  • Emirates ID (original) or Trade License in case vehicle is registered in company's name.

  Once the request is submitted, bank will release the mortgage within 5 business days.

  Please note mortgage release will be subject to the Auto Loan being successfully repaid in full with zero outstanding and clear valid documents provided.

  You will receive a 'Reference Number' for your mortgage release request via SMS on your registered mobile number once the release is successfully completed.

• What are the formalities and charges if I miss a payment for my Auto Loan?

  If the Auto Loan payment is missed then the late payment fees of AED 50 will be charged. The payment has to be made without fail to avoid legal formalities from the bank.

• How do I apply for a clearance letter for an Auto Loan? What are the charges for the clearance letter?
  • Clearance letter request to be submitted in any Emirates NBD Branch/Call center.
  • This service is free of charge.
  • This letter is issued for a single product only.
  • Turnaround time through branch is 3 working days and through online banking is 2 working days.

   

• What are the mode of payments for my Auto Loan? How do I change the mode of payment if required?

  The modes of payments for auto loan are below:

  • Direct Debit system.
  • Auto Debit from Account (ENBD)

   

• Are there any charges for the foreclosure of an Auto Loan?

  Yes there will be a charge of 1% of the outstanding loan amount while doing early settlement/foreclosure.

• What is the time frame to process an installment deferral for my Auto Loan?
  • Turnaround time through branch – 3 working days
  • Turnaround time through online banking – 2 working days

   

• What will be the processing fee for my Auto Loan?

  1% of loan amount (minimum AED 500, maximum AED 2,500)

• What is the maximum tenor for an Auto Loan?

  The maximum tenor for an Auto Loan is 60 months (5 years)

• What is the time frame to process an Auto Loan?

  Emirates NBD Auto Loans are as quick as Half Day Approvals

• What is SIP Auto Loan? What are the benefits of an SIP Auto Loan?

  SIP Auto Loan means 'Staggered Installment Plan'.

  SIP allows a customer to start with lower installments in the initial period of the loan and then gradually increase the installments in the latter parts of the tenor.

  The benefits of this product are multi-fold. Presented below is the snapshot of the advantages of this product.

  • Option of lower installment for eligible customers in the initial period
  • Capitalizing on low car prices to ensure residual values are intact
  • Unique product to take care of your financial needs

   

• What is a Fixed Deposit Auto Loan? What are the benefits of a fixed deposit Auto Loan?

  A unique Auto Loan package that lets you turn your car into a return-yielding asset.

  In addition to benefits provided in the "Feature Packed Auto Loans" package, enjoy the following perks:

  • Down-payment converted into an interest bearing Fixed Deposit
  • Get the best Motor Insurance rates
  • Online Salik Recharge & RTA fine payment facility
  • Free Annual Registration renewal service at your doorstep*
  • Round the clock Roadside Assistance
  • Free Credit Card for the first year
  • Free Bank Account

  * Limited period promotion, benefit for banking customers only. Terms and conditions apply.

• What are the difference between Fixed Auto Loan, SIP Auto Loan and feature packed Auto Loan?

  Fixed Auto Loan: In Fixed Auto Loan the Installments are consistent throughout the tenor. Customer pays the same EMI from the beginning till the end.

  SIP Auto Loan: SIP allows a customer to start with lower installments in the initial period of the loan and then gradually increase the installments in the latter parts of the tenor.

  Feature Packed Auto Loan: Feature packed Auto loan is tailored auto loan according to the customers need. This can include fixed, variable, SIP and Balloon leasing programs according to the customer preferences.

• Do I need to transfer my salary to Emirates NBD to avail an Auto Loan?

  Salary transfer is not mandatory for availing an Auto Loan from Emirates NBD

• Are there any charges for late payment?

  Yes, for Late Payment on Auto Loan there is a charge of AED 50

• How do I change the Direct Debit Service from one account to another?
  • Request to be submitted at any Emirates NBD branch.
  • Payment mode cannot be changed from auto debit to PDC.
  • Free of charge
  • Direct debit possible with Emirates NBD accounts only. Customers with PDC mode of payment should submit the request minimum 10 days prior to EMI date.
  • Turnaround time through branch is 5 working days.

   

• What is an auto loan settlement?

  You can close your loan at any time during the loan term, or once the term gets matured. To know more details, please visit any of Emirates NBD branches or simply by calling us at our Customer Service Centre on 600 54 0000.

• Can I apply for early settlement of my auto loan?

  Yes, you have the option for an early settlement on your auto loan.

• Who should I contact to know the status of my auto loan?

  You can know the status of your loan by calling us at our Customer Service Centre on 600 54 0000.

• Do I have to pay a reduced amount if I choose to go for an early auto loan settlement?

  In an early settlement of your auto loan, you will be required to pay the loan principal outstanding amount, and an additional early settlement fee which is 1% of the principal outstanding.

• How long does it take to do an auto loan settlement?

  An auto loan settlement take 3 working days from the date you place a request for closure.

• How can I apply for an early settlement of my auto loan?

  You can visit any of Emirates NBD branches or simply by calling us at our Customer Service Centre on 600 54 0000.

• Can I do a partial payment towards my auto loan? Will any charges be applicable?

  Yes, you can do a partial settlement, however there will be an additional settlement fee which is 1% of the principal outstanding.

• Can I request for a auto loan settlement via online banking?

  Yes you can apply for an early settlement or partial settlement via Emirates NBD Online banking account. Below are the steps that are to be followed to place a request.

  • Log in to your Emirates NBD online account.
  • Click on "My Finances" and later "Loans" from the options given below.
  • Select the loan type you wish to settle.
  • Under additional services and requests, click on "Early settlement" or "Partial settlement".
  • Your desired request will be placed instantly.

   

• If I am outside UAE, how do I apply for early settlement of my auto loan?

  To know more details about how you can settle your Auto loan, please call us at our Customer Service Centre on +971 4 316 0333.

• Can I defer my auto loan installment?

  Yes, you can apply for deferment. Please note that installment deferral is a delay or suspension of repayment of the Auto loan's monthly installment. The deferment may result in an increase of the current installment amount, stated in the loan agreement and repayment schedule.

• Is there any charges I have to pay to avail deferment facility?

  Yes, there is a nominal charge of AED 100 for an installation deferment fee.

• Who should I contact to have my auto mortgage released?

  You can visit any of Emirates NBD branches or simply by calling us at our Customer Service Centre on 600 54 0000.

• What documents do I need to provide to have my auto mortgage released?

  Below documents will be required to have your auto loan's mortgage released.

  • Copy of Mulkiya.
  • Copy of your Passport.
  • Copy of your Emirates ID.

• Are there any requirements to apply for a Liability / No Liability letter?

  Yes, you will have to submit the requisite form(s), duly completed to apply for a No Liability Letter. On a case to case basis, other documents might be requested through the branch.

• What are the steps to apply for a Liability/ No Liability Letter ?

  You can submit the application for Liability / No Liability Letter at your nearest Branch, Call Center OR through Online banking. On successful completion of your application, you will be provided with a reference number to track your request.

• What is the difference between a Clearance Letter and a No Liability Letter?

  Clearance Letter states that a specific liability has been cleared while a No Liability Letter states the customer has no existing liabilities.

• Do I have to pay any charges for Liability / No Liability letter ?

  Yes, a fee of AED 50, as outlined in the Schedule of Fees and Charges on Bank's official website is applicable.

• What is the time frame to process and issue a Liability / No Liability Letter request?

  Liability / No Liability Letter will be issued within the bank's defined service standard of 7 (seven) business days.

• How will I know that the Liability Letter / No Liability Letter is ready?

  As soon as the letter is ready, you will receive an intimation message on your registered mobile number.

• Where can I collect the Liability / No Liability Letter once it is ready?

  The letter can be collected from the nearest branch based on your convenience, except mall branches. Click here for branch locations

• What is the validity of the Liability / No Liability Letter?

  Liability / No Liability Letter is valid for 15 days from the date of issuance.

• What is an Emirates NBD Green Auto Loan?

  With natural resources being depleted at an alarming rate, we at Emirates NBD are committed to do our part in saving the planet. To help transform our nation into a green, low-carbon economy in support of the sustainability agenda of UAE Vision 2021; we are offering auto loans on select electric and hybrid cars as part of our Go Green initiative at an attractive pricing. A Green Car Loan will not only suit your needs and budget but also contribute towards clean energy and a green future.

• What is an electric vehicle?

  An electric car is an automobile that is propelled by one or more electric motors, using energy stored in rechargeable batteries.

• What is a hybrid vehicle?

  A hybrid vehicle uses two or more distinct types of power, such as internal combustion engine to drive an electric generator that powers an electric motor.

• What are the benefits of driving an electric or hybrid vehicle?

  Below are the advantages you can benefit with by driving an electric/hybrid vehicle over conventional petrol/diesel car.

  • Being an owner of an Electric vehicle you have an advantage of much lower running cost.
  • It has a cheaper maintenance.
  • Better for environment - Less pollution, Renewable energy, Eco friendly materials.

• What are the benefits of owning an electric or hybrid vehicle in UAE?

  Along with above mentioned benefits, you get to avail below benefits of owning an electric car in UAE.

  • Free electric charging at DEWA charging station until 2019.
  • Free designated green parking in Dubai.
  • 14 locations across emirate with free parking. (electric vehicle sticker is mandatory to avail this facility)
  • Free salik Tag
  • Free vehicle registration and renewal.

• What vehicles can I get with a Green Auto Loan?

  You can get selected electric vehicles from authorized dealers or with authorized evaluation.

• What are the documents required to get a Green Auto Loan?

  You are requested to provide the below documents in order to avail a green auto loan.

  • Filled application form
  • Income documents
  • Quotation
  • KYC documents

• How do I apply for a Green Auto Loan?

  You can apply for Emirates NBD Green auto loan by any of the below channels.

  • You can apply via Mobile banking.
  • You can apply via Online banking.
  • You can apply by visiting any of our branches.