Kia Car Loan

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Are you looking to buy a Kia car in the UAE? With the help of car loans, you can have an excellent opportunity to buy your dream car without any hassle. As a UAE resident, you can avail of competitive interest or profit rates, flexible repayment terms, and other features designed to make Kia car loan application more accessible and affordable.

On top of all that, a remarkable benefit of a Kia car loan is that you don't have to pay the total amount upfront. This means that your precious money and savings would remain intact while you get to enjoy the luxury and convenience of owning a car in the UAE.

Are you looking to buy a Kia car in the UAE? With the help of car loans, you can have an excellent opportunity to buy your dream car without any hassle. As a UAE resident, you can avail of competitive interest or profit rates, flexible repayment terms, and other features designed to make Kia car loan application more accessible and affordable.

On top of all that, a remarkable benefit of a Kia car loan is that you don't have to pay the total amount upfront. This means that your precious money and savings would remain intact while you get to enjoy the luxury and convenience of owning a car in the UAE.

Getting a Kia car loan in the UAE is fairly easy if you are aware of your requirements and the basic features of auto loans available in the UAE. We will take up the latter here and discuss the key features and benefits, eligibility criteria, required documentation, and the steps involved in applying for car loan in UAE. This, as we would expect, would help us make an informed decision and find the most suitable loan.

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Features and Benefits of Kia Car Loan

Along with the convenience of purchase and affordability, this car loan provides several other advantages to UAE residents and non-residents. In the following section, we will discuss some of the significant features and benefits of a Kia car loan in UAE

  1. Flexible Payment Schedules-Kia car loans allow you to customise your payment plan based on your financial situation. In the UAE, you can obtain a car for a maximum period of 5 years and choose to pay the loan at your convenience.
  2. Easy Access to Funds-Among the most notable benefits of this car loan in UAE is that you can quickly access the required funds. With most providers having minimal documentation and approval process, you can easily get the funds to purchase a car without any major hassle. 
  3. Attractive Profit and Interest Rates-Multiple lending institutions in UAE offer auto loans for your Kia car at competitive profit and interest rates. The two types of rates available for car loans are fixed interest rates and reducing interest rates. This gives you the facility of choosing the one that aligns with your requirements and budget the most.
  4. No Collateral Required-As the car itself serves as collateral for your Kia car loan, no additional collateral would be required to obtain this loan. This, however, is also a point of caution - if you fail to repay the loan on time, the said lending institution may seize your car to recover the loan.
  5. Maximum Loan Amount-Most loan providers and institutions in the UAE finance up to 80% of your vehicle's value, which can help you save a significant portion of your savings.
  6. Swift Application Process-Applying for a Kia car loan is an easy and quick process, with the leading providers offering the facility of online application. Some of the top lending institutions in the UAE approve the loan within 24 hours of application.
  7. Other Benefits-Apart from the above-listed benefits, you can avail of additional benefits with these car loans in the UAE such as a 0% instalment payment plan, a free credit card for one year, a free bank account, a grace period for the first instalment, and so on.

Documentation Required for Kia Car Loan

It is crucial to keep your documents ready to avail of this car loan and fast-track the car loan application process. While the list of documents required may differ from one lender to the other, some of the standard documents are listed below –

For Salaried Individuals For Self-Employed Individuals For Companies
  • Original Visa
  • Salary Certificate
  • Original Emirates ID
  • Driving Licence
  • Original Passport
  • Bank Statements (Of the last 3 or 6 months)
  • Valid Quotation
  • Original Visa
  • Original Emirates ID
  • Driving Licence
  • Original Passport
  • Bank Statements (Of the last three or six months)
  • Trade Licence
  • Valid Quotation
  • Original Passports
  • Original Visas
  • Original Emirates IDs
  • Driving Licences (of the concerned company officials)
  • Valid Quotation
  • Memorandum of Association
  • Bank Statements

Kia Car Loan Interest Rates

Before obtaining a car loan, it is essential to ensure that the cost of the loan is within your budget. For this, you would be required to calculate the overall interest payment based on several factors. The following section discusses the factors that affect your Kia car loan interest rates – 

  1. Your Income-Income helps banks and lenders determine whether it would be risky to offer you the loan and evaluate the probability of defaulting on the loan. It is one of the reasons why financial institutions set the minimum income eligibility criteria for a Kia car loan.If you have a high income and a stable occupation, the interest rates for you would tend to be low as it gives assurance to the lender with respect to the timely repayment of the loan.
  2. credit Score and Report-One of the most crucial factors in assessing the creditworthiness of an individual is the credit score. Most lending institutions in the UAE prefer credit scores above 750 for low interest rates. This is because a high credit score shows that you are a credible borrower, meaning the likelihood of defaulting on a loan is low.
  3. Association with the Lender-Financial institutions are likely to trust borrowers whose financial records are on their file and who want to retain their existing credible customers. Thus, if you have already had any previous transactions with the bank, the bank may offer you low interest rates on your Kia car loan.
  4. Loan Repayment Tenure-Another factor affecting the applicable interest for this car loan is the loan repayment tenure. Generally, short loan tenures, while resulting in high monthly instalments, lead to low interest amounts as well.

Kia Car Loan Eligibility Criteria

To qualify for a Kia car loan, you must fulfil the eligibility criteria set by your loan provider. Mentioned below are the essential eligibility criteria set by most lenders in the UAE – 

  1. Nationality-Most financial institutions in the UAE offer Kia car loans to both nationals and expatriates. However, depending on the lending institutions, the features and terms of the car loan product may vary as per your nationality.
  2. Age-Most lending institutions in the UAE require you to be at least 21 years to be eligible for Kia car loans in the UAE.
  3. Income-Different banks have their minimum salary criteria to be met to avail of this car loan. Keep in mind that applicants earning less than the minimum income stated by the bank cannot apply for the loan.
  4. Credit Score-As mentioned in the previous section, a good credit score is essential to applying for a loan for Kia cars. You must check with the lending institution the minimum credit score required to apply for a car loan.
  5. Employment-The lending institutions in the UAE have their own set of eligibility criteria for salaried and self-employed individuals. However, the general rule is that you should have a stable job to avail of a Kia car loan.

How to Apply for a Kia Car Loan?

Policybazaar UAE is an ideal platform if you wish to apply for a Kia car loan, as it offers a seamless, hassle-free, and pleasant experience. With policybazaar.ae, you can compare the available loan options, apply for your most preferred one, and get approved in a stipulated time frame. 

The most notable aspect of applying for this loan with us is that the application process is straightforward and you won't have to spend hours completing the documentation or dealing with any complex loan process. Additionally, policybazaar.ae gives you a wide range of options in terms of loans and providers, which makes it an excellent choice for those seeking financing for their Kia car after comparing the best options. Finally, our customer service is available 24/7 so that you can get the required help while applying for a car loan. 

You can apply for a Kia car loan via policybazaar.ae by following the simple steps – 

  • Visit policybazaar.ae
  • Go to 'Car Loans’ by clicking on the 'Banking Products’ option at the top of the page
  • A lead form will appear in which you can fill out details like your name, email address, monthly income, mobile number, nationality, and city of residence
  • Tap on the ‘proceed’ button
  • A car loan quotes page will appear consisting of all the top lending institutions' car loan products
  • Use the ‘filter’ option to sort out the results
  • You would find an ‘apply’ button in front of each loan product. Click on it for the product you wish to apply for.
  • One of the customer care personnel will contact you after your application is submitted

You can also visit the official website of your preferred lending institution or go to a physical branch of the said provider to apply for a Kia car loan.

How to Calculate Monthly Instalments for Kia Car Finance?

The car loan calculator is an automated online tool that helps you compute the future monthly instalments for your car loan. To use the car loan calculator, you can either use the slider or enter the loan values in specific fields to display the result. 

The calculator helps you generate the monthly instalments on your Kia car loan and shows how the total loan interest is payable per the loan repayment tenure. Several lending institutions also use graphic charts to show the entire principal and the interest amount break-up. This can be pretty useful as it would give you a clear picture of the total cash outflow before opting for any of the available loan options.

Follow the steps below to use a car loan calculator to compute the monthly instalments on your Kia car loan – 

  • Enter the finance amount, i.e., the total loan amount you wish to borrow from the lending institution
  • Type in the loan repayment tenure - the loan repayment tenure of your Kia car loan is the duration of your loan in months
  • Fill in the interest/profit rate 
  • After providing all the information in the required fields, the calculator will flash the monthly instalments based on the values you entered
  • To get the desired results, you can tweak the values and choose the loan amount and tenure per your requirements

Charges and Fees Applicable on Kia Car Loan and Finance

When you apply for a car loan for Kia in the UAE, you would be charged some specific fees and charges, with the schedule for the same differing from one lender to the other. 

Check out the following table to find out the general charges as applied by most lenders in the UAE – 

Fee Description

Applicable Charges

Loan processing fee

1.05% of the finance amount

Early settlement fee

1.05% of the principal outstanding amount

Late payment fees

Depends on the lender 

Kia Car Loan Repayment Options in the UAE

To repay your Kia car loan, you can use any of the online, mobile banking, and offline methods. We will discuss each method in detail in the section below – 

Online Banking

  • Go to the official website of the concerned financial institutions or lender
  • Log into your account using the credentials to get the details of your Kia car loan
  • Locate the payment options on the page and pay through the suitable payment method
  • After making the payment, you will be notified of the transaction

Mobile Banking

  • Install the official mobile application of the said financial institution on your device
  • Navigate the 'loan' section and get the information about your Kia car loan
  • Choose the payment button and complete your monthly instalment payment

Offline Banking

Some lending institutions in the UAE also offer the option of making monthly instalments of Kia car loans offline. In this case, you can simply visit the bank's physical branch and approach one of the bank's representatives to learn about the offline process.

Given below is the list of general Kia car prices in the UAE – 

Popular Kia Car Model

UAE Price

Kia Soul

AED 56,900 – 82,500

Kia Mohave

AED 108,000 – 137,500

Kia Optima

AED 91,076

Kia Telluride

AED 119,000

Kia Stinger

AED 165,000 – 189,000

Kia Cadenza

AED 86,000 – 135,500

Kia Seltos

AED 68,000

Note: The prices mentioned in the table are estimated prices. It is advisable to visit the official website of Kia or your nearest dealer to find out the exact costs.

Top Banks Offering Kia Car Loans in UAE

Have a look at the table below to find out more about the top lending institutions in the UAE offering Kia car loans – 

First Abu Dhabi Bank

Product Name

Profit Rate

Loan Repayment Tenure

Loan Amount

Additional Benefits

FAB Islamic car finance for expats

Flat rate - starting from 2.49%

Reducing rate - starting from 4.72%

NA

Up to AED 1.5 million or 80% of the value of the car 

  • Available for both used and new cars
  • Up to 120 days grace period before the first instalment
  • Valid for salaried individuals
Click here to Apply for this FAB Car Loan

Mashreq Bank

Product Name

Interest Rate

Loan Repayment Tenure

Loan Amount

Additional Benefits

Mashreq Car loans

Flat rate- starting from 3.45%

Ranging from 12 to 60 months

Up to AED 500,000

  • Free current account with no minimum balance
  • Available for both new and used cars
Click here to Apply for this Mashreq Bank Car Loan

Emirates NBD

Product Name

Loan Interest Rate

Loan Repayment Tenure

Loan Amount

Additional Benefits

Auto cash loan

N/A

Up to 60 months

Up to 75% of the vehicle invoice value

  • Get preferential rates

Flexi drive 

Flat interest rate – starting from 1.92%

NA

NA

  • Transparent pricing linked to a one-month EIBOR

Auto loans

Flat interest rate - starting from 1.99%

Flexible tenure

NA

Click here to Apply for this Mashreq Bank Car Loan

Emirates Islamic Bank

Product Name

Profit Rate

Loan Repayment Tenure

Loan Amount

Additional Benefits

Emirates Islamic Auto cash loan

N/A

Up to 60 months

Up to 75% of the vehicle invoice value

  • Get preferential rates
Click here to Apply for this Emirates Islamic bank Car Loan

RAKBANK

Product Name

Interest Rate

Loan Repayment Tenure

Loan Amount

Additional Benefits

RAKBANK Car loans

Starting from 1.99% for salaried customers

Up to 60 months

NA

  • Available for both new and used cars
  • First instalment after 60 days
Click here to Apply for this RAKBANK Car Loan
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FAQS

What is the procedure for applying for a Kia car loan?

You can apply for a Kia car loan via policybazaar.ae by checking out the 'car loan' section on the website. You can also visit the official website of your preferred lender to submit your request.

 

What is the flat interest rate on a Kia car loan?

The interest rate depends on various factors like your profile, income source, employment type, credit score, and more, and differs from institution to institution. The flat interest rates for Kia car loans generally start from 1.99%.

 

What are the advantages of having Kia car finance in the UAE?

By obtaining a Kia car loan, you can enjoy improved budgeting and enhanced credit score while also avoiding the exhaustion of your savings.

 

 

Isn't it better to buy a Kia car in cash instead of a Kia car loan?

Buying a Kia car in cash requires you to shell out a large sum of money. Purchasing a car on loan, on the other hand, helps you save a substantial part of your savings as you don't have to pay the amount upfront.

 

 

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