Credit Bureau Consent, Welcome Offer & General Terms & Conditions
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Car Loan Provided ByFirst Abu Dhabi (FAB)
Features of FAB Car Loan
- Provides finance on competitive interest rates
- Can avail finance for both used and new cars
- Can get up to 80% of the car value as the maximum loan amount
- Can get finance up to AED 1.5 Million
- Competitive interest rates
Eligibility Criteria of FAB Car Loan
- Both self-employed and salaried individuals are eligible
Documents Required of FAB Car Loan
- UAE driving license
- Vehicle quotation
- Bank statements
- Valid passport
- Valid Emirates id
First Abu Dhabi (FAB) Car Loan Interest rates
3 Car Loans Provided By First Abu Dhabi (FAB)
Car loan for Salaried Individuals
Benefits
- Can get finance for both used and new vehicles
- Less down payment requirement
Features
- Interest rates charged on the loan is 2.35% per annum
- Maximum finance of AED 1.5 Million is provided
- 20% of the car value should be borne as a down payment
Benefits
- Can get finance for both used and new vehicles
- Less down payment requirement
Car loan for Self-Employed Individuals
Features
- Interest rates charged on the loan is 3% per annum
- Maximum finance of AED 500,000 is provided
- 20% of the car value should be borne as a down payment
Features
- Interest rates charged on the loan is 3% per annum
- Maximum finance of AED 500,000 is provided
- 20% of the car value should be borne as a down payment
Benefits
- Can get finance for both used and new vehicles
- Less down payment requirement
- High finance amount can be availed
Green Car Loan
Features
- <b>For UAE Nationals</b>
- Get the benefit from an interest rate of 2.30% (equivalent to a reducing rate of 4.37%) for new Tesla cars
- Get the Benefit from an interest rate of 2.60% (equivalent to a reducing rate of 4.92%) for previously owned Tesla cars
Features
- For UAE Nationals
- Get the benefit from an interest rate of 2.30% (equivalent to a reducing rate of 4.37%) for new Tesla cars
- Get the Benefit from an interest rate of 2.60% (equivalent to a reducing rate of 4.92%) for previously owned Tesla cars
- For Expats
- Get the Benefit from an interest rate of 2.54% (equivalent to a reducing rate of 4.81%) for new Tesla cars
- Get the Benefit from an interest rate of 2.84% (equivalent to a reducing rate of 5.35%) for previously owned Tesla cars
- Auto completed application and must have signature of the customer
Benefits
- Financing options are accessible for both brand-new and previously owned vehicles.
Frequently Asked Questions
⭐ Can I reschedule my loan?
A. Yes. Loan rescheduling can be done on paying AED 262.50.
⭐ Are we supposed to provide post-dated cheques?
A. Yes. Post-dated cheques in favor of FAB is mandatory.
⭐ Can I get my installments due date changed?
A. Yes. Installments due date can be changed for AED 26.25.
⭐ What are the late payment fees charged?
A. 2.10% of the delayed amount should be paid as late payment fees.
⭐ What are the charges on installment deferment?
A. On deferring installments, AED 105 is charged as installment deferment fees.
⭐ Can I get a loan for used cars as well?
A. Yes. FAB provides auto loans for used cars as well.
⭐ Is it mandatory to have Dubai driving license to get an auto loan?
A. Yes. It is mandatory to have Dubai driving license to get an auto loan in UAE.
⭐ Can I pay my monthly installment in advance?
A. Yes. Monthly installments on car loan can be paid in advance but 1.05% of the advance payment is charged as advance payment fees.
About FAB
First Abu Dhabi Bank (FAB) is one of the largest banking institutions established in 2017 and is a merger of NBAD and FGB. FAB offers tailor made solutions, products and services to the customers.The international network of FAB is spread over 5 continents providing global relationships, expertise and financial strength to local and international business. FAB offers its diversifying services by having differentiation, agility and innovation as their main motto and vision
Get in touch with FAB Bank Customer Care