NBQ Auto Loan
The National Bank of Umm Al Qaiwain car loan is an ideal solution to finance your car without stress. With generous financing options and flexible repayment terms, it is a stress-free way to get behind the wheel. On top of that, you even get instalment holidays, which eventually ease your monthly ...read more
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Let’s know the NBQ auto loan in detail, including its features, eligibility, application process, and more.
Key Features and Benefits of the NBQ Auto Loan in UAE
The key features and benefits of the NBQ auto finance are as follows:
- Get a high finance amount of up to AED 750,000
- NBQ car loans are available for used and new cars
- Enjoy 50% off on the processing fee
- Competitive interest rates are offered; based on lending rates
- Take advantage of 2 instalment deferments each year
- Experience Quick and hassle-free application processing
National Bank of Umm Al Qaiwain Car Loan- Eligibility Criteria
Tabled below are the NBQ auto loan eligibility criteria:
| Criteria | Requirements |
|---|---|
| Age |
|
| Nationality | UAE Nationals and Expats, Non-Residents |
| Employment Status | Salaried Individual or Self-Employed Individual |
| Length of Service | Minimum 1 year with the current employer |
| Salary Transfer | Not Mandatory |
National Bank of Umm Al Qaiwain Auto Loan- Documents Checklist
You must submit the following set of documents to apply for NBQ auto finance in the UAE:
| Documents Required | For Salaried Individuals | For Self-Employed Individuals |
|---|---|---|
| Emirates ID | ✅ | ✅ |
| Passport | ✅ | ✅ |
| Residence Visa ( for Expats) | ✅ | ✅ |
| Residential Address Proof | ✅ | NA |
| Latest 3 Months Personal Bank Statements | ✅ | NA |
| Latest 6 Months Company Bank Statement | NA | ✅ |
| Business Address Proof | NA | ✅ |
| Salary Certificate or Pay Slip | ✅ | NA |
Note:
- All documents must be valid
- Originals and copies of each document must be presented
- Additional documents may be required at the discretion of the bank
Apply for NBQ Auto Loan via Paisabazaar.ae?
At Paisabazaar UAE, you can apply for the NBQ car loan in a few minutes by following these steps:
- Navigate to our website’s ‘Car Loan’ page.
- Complete the lead form.
- Locate the NBQ auto loan on the quotes page and apply.
We will shortly connect with you regarding your application and assist you with the next steps.
Applying with Paisabazaar UAE gives you perks, including:
- Access a wide range of car loan options from top UAE banks
- Round-the-clock assistance from our experts
- Experience an easy and hassle-free application process
National Bank of Umm Al Qaiwain Car Loan- Fees and Charges
Refer to the National Bank of Umm Al Qaiwain car loan fees and charges below:
|
Type of Fees |
Charges |
|---|---|
|
Processing Fees |
1.05% of the finance amount; Minimum- AED 525, Maximum- AED 2,625 |
|
Early Settlement for Car Finance |
1.05% on the outstanding principal; Maximum- AED 10,500 |
|
Advance Payment of Instalment |
1.05% of instalment |
|
Monthly Insurance Premium on Principal Outstanding |
AED 0.00924% per month |
|
Commission on Selling the Commodity Purchased from the Bank |
AED 0.25% |
|
Cancellation Fee |
AED 105 |
|
Issuance of Liability Letter to Other Banks |
AED 63 |
|
Late Payment Penal Profit Charges |
2.10% over agreed rate; Minimum- AED 52.50, Maximum- AED 525 |
|
Finance Rescheduling Fee |
AED 262.50 |
|
Instalment Deferment Charges |
AED 105 (per deferment) |
|
Change of Due Date on Standing Instructions |
AED 26.25 |
Frequently Asked Questions
No, salary transfer is optional for this NBQ loan.
The early settlement charges are 1.05% of the outstanding principal.
Yes, the loan is available for financing a used car.
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