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Environmentally-conscious individuals seeking to protect the environment and reduce their carbon footprint might get tempted to choose a hybrid or fully electric model when the time comes to buy a car. These cars, besides contributing to your environmental goals, provide an excellent driving experience at minimum hassles to users. At the same time, with the electric vehicle (EV) technology still being relatively new in the market, the prices might currently appear beyond one’s reach. However, with specific solutions like HSBC Green Car Loan, you can easily fulfil your ambitions of securing an electric car with minimal burden on your finances.
The technology and market for electric vehicles (EVs) are changing rapidly. And while the current costs may prove deterring, the overall prices are dropping, efficiency is going up, and an increasing number of car models are becoming available due to an emphasis on this technology across the world. HSBC Bank realises the importance of supporting this trend toward environmentally-friendly transportation. For this reason, they've created their new, flexible HSBC Green Car Loan to help more individuals make the switch to EVs.
HSBC Green Car Loan
An electric car is a clean and efficient vehicle that is easy to drive and provides a luxurious driving experience. With the help of HSBC, you can quickly get behind the wheel and enjoy the convenience of EVs. Notably, even the HSBC car loan comes with several features that ensure an easy loan repayment experience as described below:
1. Low Rates of Interest - Get the electric car of your dreams with the HSBC Green Car Loan. With some of the most affordable rates in the market right now starting from 1.84% per annum, it is no surprise why interest rates are still declining for car loans used to purchase electric or hybrid vehicles. HSBC Car Loan helps you decrease the overall loan cost while also contributing toward a pollution-free world.
2. Special Discounts - To promote electric car usage in UAE, HSBC Bank offers special discounts on EV financing.
3. Zero Salary Transfer - Contrary to the widespread opinion, you don’t need an active bank account with HSBC in order to access HSBC car loan. You can easily apply for an HSBC Green car loan without a salary transfer account with the bank.
4. High Loan Amount - If you're thinking of buying a hybrid or completely electric car that may cost, the HSBC Green Car Loan is your one-stop solution in such cases. With the financial assistance provided by HSBC Bank, you can afford to invest in an eco-friendly electric car of your preference, while the high financing amounts ensure that you can purchase almost any car you want.
5. Flexible Loan Term - Car loans from HSBC Bank are available across diverse tenure options to serve your specific needs. You can choose from multiple loan tenures between the minimum and maximum limits of 12 months and 60 months, respectively, and decide the repayment schedule that suits your financial plans and conditions. The crucial aspect to remember here is that longer loan tenures are accompanied by higher loan interest amounts. However, if you are looking for a lower instalment amount, a longer loan term makes sense as it helps you manage your budget better.
Car Finance Plan |
Flat Rate of Interest |
HSBC Green Car Loan |
Starting from 1.84% per annum |
HSBC Car Loan Interest Rates in UAE |
Before you begin the loan application process for an HSBC car loan, confirm that all the required paperwork is in order as the whole process could get delayed if even a single document is not in place.
The following are the general eligibility requirements for an HSBC new car loan in UAE.
Age |
21 to 65 years |
Residency |
UAE Nationals and Expats |
Salary Requirement |
AED 7,500 |
Credit Score |
The applicant is required to have a good credit score |
Down Payment |
Car Value’s 20% |
If you want to apply for HSBC Green Car Loan or check out some other leading green car loan plans in the UAE, policybazaar.ae could serve as an invaluable tool. Visit our ‘car loans’ section and buy a plan after comparing the best ones as much as you want without stepping outside of your place.
HSBC Green Car Finance is a vehicle-specific finance product specially designed for car buyers who want to make an EV purchase more affordable. With its flexible facilities and other features as illustrated below, you can manage your finances better with HSBC car loan.
Before you begin checking out the best car loans in UAE, you can view some common customer queries regarding the plan.
The minimum salary requirement for HSBC Green Car Loan is AED 7,500.
HSBC Bank allows users the option of the early settlement of car loans. However, this feature can be availed of in exchange for a pre-settlement fee.
If you wish to apply for Car Loan from HSBC, you can visit their official website and fill up the necessary application form to proceed. The same can be done on our website by going to the ‘car loans’ section. When you choose any of these two online options, the bank will connect with you if your application is approved and guide you regarding further processes.