ADCB car loan for used and new car
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Serving a customer base of over a million, ADCB is one of the largest financial institutions in the UAE. Headquartered in Abu Dhabi, the government of UAE owns 60.2% of its shares making it one of the biggest public banks in the UAE. It offers various innovative banking products and simultaneously focuses on enhanced customer services and financial growth. From personal banking to corporate credits and loans, the bank has a whole range of financial services to cater to both individual and corporate customers. In loan segment, the bank offers, personal, home and car loan in UAE.
Buying a car requires investment of significant funds, which can be tough for many. With ADCB car loan facility, you can conveniently apply for loans and get them approved for your preferred vehicle. The bank is known to offer hassle-free loan applications with minimal documentation. The article below provides details about ADCB car loans with a comprehensive list of their features, benefits and easy ways of application.
ADCB car loans offer numerous features and benefits to make your financing convenient. Apart from affordability, you get flexibility for easy loan repayments including insurance options to secure your loans. Following are key features of ADCB car loans in the UAE.
Before applying for a car loan, you need to satisfy a few requirements laid down by the bank. It includes your age, residency and financial situation. While the criteria may vary from person to person, here are the common eligibility criteria considered to apply for ADCB car loans.
Once you ensure fulfilling all the eligibility requirements, you need to collect a few documents pertaining to your identity, address and finances as mentioned below.
For Salaried Individual
For Self Employed Individuals
For Companies
Note: - All applicants need to submit a duly filled loan application form along with the aforementioned documents.
ADCB bank accepts loan applications through various channels to make the process quick and convenient. You can either visit the official website of ADCB or visit the bank in person to obtain the loan. Following are the various ways to apply for an ADCB car loan.
To offer an easy understanding of loan, tenure and ADCB Car loan interest rates, the bank provides an ADCB car loan calculator. You can visit the official portal and enter the required details to know about the interest you pay including your monthly EMIs. Using the ADCB car loan calculator, you can forecast the amount you need every month for loan repayment while aiding your financial management.
The amount displayed is an approximate cost. Since your loan includes charges like processing fees, loan insurance premium etc, you get the exact loan cost only after approval. However, it helps to plan your purchase and manage your expenses effectively.
Along with easy loan applications and low finance charges, the bank offers attractive discounts and offers on the purchase of specific cars and models. The offer may be limited to Emirati customers, and you need to verify the same with the bank. Following are the ADCB car loan offers in the UAE.
ADCB Car Loans offer | ||||
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Car Brand | Dealer | Offers | ||
Fiat - All Models |
Al Fahim motors and Western Motors |
Special finance rates for all customers |
||
Jeep - All Models |
Western Motors |
Special finance rates for all the customers |
||
Mercedes Benz - All Models |
Emirates Motor Company and Eastern Motors |
Special finance rates for all the customers |
||
Opel - All models |
Al Fahim Motors |
Special finance rates for all the customers |
||
- |
Al Rostamani Trading Company |
0% interest payment plans for the first 6 months |
||
- |
Al Tayer Motors |
0% interest payment plans for 3-6 months |
||
- |
Ali and Sons |
0% interest payment plans for 6 months |
||
- |
National General Insurance Co |
30% discount on car insurance |
*ADCB Car loan Interest Rates are subject to change
There are a few terms and conditions you need to ensure while applying for an ADCB car loan in the UAE as mentioned below.
Ans: ADCB bank offers both flat and reducing interest rates on car loans. You may opt for a feasible ADCB Car Loan interest rate depending on your requirements. Depending on the loan amount and customer segment, the flat rates start from 1.99% and reducing rates start from 3.65%. However, reducing interest rates are available for limited tenures.
Ans: ADCB offers loyalty benefits in the form of ADCB Touchpoints to its valued customers. You can use touchpoints to enjoy exclusive benefits across various shopping outlets, diners, hotels, tickets and more. With ADCB car loans, you get 50 Touchpoints for every AED 1000 loan amount.
Ans: Yes, you can conveniently apply for an ADCB car loan online by visiting their official website and filling out an online application form. You need to ensure all the required documents are ready before starting the application process.
Ans: Yes, you can apply for a car loan without a salary account in ADCB bank. However, you need to submit additional documents and, you may not get attractive ADCB Car Loan interest rate as an account holder.
Ans: Defaulting on your ADCB car loan instalments may force the bank to seize your car as collateral (a form of security against your car loan).