Car Loan in UAE Without Salary Transfer

While applying, you might get confused as there are plenty of options available in the UAE. That’s where we step in — to simplify your decision making process! 

We have compiled a list of banks with car loan facilities and other benefits. Let’s make an informed choice by understanding various factors related to an auto loan without salary transfer, including interest rates, eligibility, and much more.

Top Car Loan Plans in Dubai

Top Banks Offering Car Loans Without Salary Transfer in the UAE

Tabled below is the list of top lenders providing car loans without salary transfer in the UAE:

Banks	Specifications	Apply
NBQ Car Loan	Car finance up to AED 750,000  Competitive interest rates Flexible repayment terms	Apply Now
Emirates Islamic Car Loan	Islamic vehicle finance option  Finance option for new and used cars Attractive interest rates	Apply Now
HSBC Car Loan	Flexible loan repayment tenure  No account opening required For new and used cars	Apply Now
RAKBANK Car Loan	Easy repayment option New and used car finance options Simple documentation	Apply Now

Car Loan Without Salary Transfer Interest Rates in the UAE

Here are the interest rates offered by lenders for car loan without salary transfer in the UAE: 

Banks	Interest Rates
NBQ	Starting from 2.99%
Emirates Islamic Bank	Starting from 1.89%
HSBC	N/A
RAKBANK	Starting from 1.99%

✍️Note: For the most accurate details, we recommend checking the updated interest rates from the bank’s official website. They can fluctuate based on market conditions, the bank’s policy, and other factors. 

Eligibility Criteria- Car Loan in UAE Without Salary Transfer​

You need to meet the following eligibility criteria to get an auto loan without salary transfer at the following banks: 

Banks	Age	Minimum Salary Requirement	Nationality
NBQ	At least 21 years old	AED 8,000	UAE nationals and expatriates
Emirates Islamic Bank	At least 21 years old	AED 5,000	UAE nationals and expats
HSBC	At least 21 years old	AED 10,000	UAE nationals and expatriates
RAKBANK	At least 21 years old	AED 5,000	UAE nationals and expats

Required Documents for a Car Loan in Dubai Without Salary Transfer 

Here is the complete list of required documents for a car loan without salary transfer: 

✔️Emirates ID

✔️Passport

✔️Driving licence

✔️Residence visa (for expatriates)

✔️Income proof

✔️Current bank statements 

✔️Car quotation 

✍️Note: You may be asked to submit some additional documents by the bank. Also, make sure to provide valid documents to make the loan process smoother. 

Where to Get a Car Loan in UAE Without Salary Transfer? 

With Paisabazaar.ae, it’s easy to get the best car loan without salary transfer. Here is how you can apply with just a few simple steps —

⏭️Go to the homepage and click on the ‘Car Loans’ section

⏭️Provide the required information in the lead form 

⏭️Get car loan options on the quote page 

⏭️Explore the features of available options and compare those without a salary transfer requirement

⏭️Apply for the suitable one that fits your financial needs

That’s it — one of our representatives will get in touch with you to guide you through the further steps!

What to Consider When Applying for a Car Loan Without Salary Transfer? 

Securing a car loan is an important financial commitment. So, it is vital to keep the following things in mind while applying for a car loan in Dubai without salary transfer: 

✳️Evaluate Your Budget 

It’s necessary to evaluate your budget before applying for an auto loan. Consider the type of car loan, the finance amount, the down payment, and more to make an informed decision. 

✳️Downpayment 

As per UAE Central Bank regulations, a minimum of 20% of the car’s value must be paid upfront while securing a car loan. Additionally, with a higher down payment, you can save more on interest rates. 

✳️Interest Rates

You can choose from fixed to reduced interest rates on car loans, whichever suits you the best. However, getting the loan at a lower rate means you have to pay lower EMIs to the lender. 

✳️Credit Score

With a good credit score, such as more than 750, you can get better loan options. Furthermore, it’s important to check your aecb credit score before applying for an auto loan in the UAE. 

✳️Compare Various Options

Make sure to get the best car loan in Dubai without salary transfer by comparing the finance options of different banks. With this practice, you can secure competitive interest rates, flexible repayment terms, and better deals. 

Frequently Asked Questions