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Renault has quickly created its name in the Emirates for its reliable, high-performance, and economic cars. Whether you are looking for affordable and compact models or a more premium one, Renault offers you ample options to choose from. Currently, 12 Renault cars are sold in the UAE out of which there are seven hatchbacks, two SUVs, one crossover, minivan, sedan, and van, each. Several banks in the UAE offer Renault car loans to help UAE residents purchase their dream Renault car with ease. Let’s have a look at the key features of these auto loans and other important details you must know before selecting a Renault auto finance product. 

Features & Benefits of Renault Car Loan

Here are some of the primary features and benefits of the Renault car loan that you can find in the UAE:

  • Easy Availability - Renault car loans can be availed using online as well as offline platforms. Most banks and finance houses in the UAE offer easy Renault car finance for your needs. You can submit an online application and get quick approvals and loan disbursals to buy your dream car.
  • Affordable Loan Options - The interest rates for Renault car finance in the UAE are highly affordable, perfect to finance your Renault car at minimum additional cost. Renault car loan interest rates start at 1.99% per annum flat. Option to avail reducing rates of interest is offered by most banks in the emirates. 
  • Repayment Flexibility - Renault car finance products come with flexible repayment tenures that can go up to 60 months. Customers can choose from options like equal monthly installments, reducing installments, and balloon payments to repay their loans. There are different online and offline modes of repayment that you can use to repay the loan. 
  • Finance for New and Used Cars - Renault car loans are available for both new and used cars with most banks in the UAE. Interest rates can be slightly higher for used car financing as compared to new cars. You can easily choose a loan variant depending on the kind of car you wish to buy.
  • Large Finance Amounts - Banks in the UAE offer up to AED 1.5 million as Renault car loan amount. Borrowers can get a suitable amount to finance their car depending on the down payment amount and the price of the car they have chosen. Loam amounts are sanctioned as per your monthly income. 
  • Good for Your Credit Score - Getting a car loan and repaying it dutifully can help you increase your credit score several folds. An improved credit score can help you get other loans on more favorable terms in the future. Diversifying your credit portfolio has a rather positive effect on your credit score in the UAE. 

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Renault Car loans Interest Rate

If you are thinking of availing of the Renault car loan in the UAE, here’s a look at the loan offerings across some of the popular banks and their interest rates. 

1. First Abu Dhabi Bank Car Loan

Type of Loan

Interest Rate

Salient Features 

Car loan for self-employed individuals

Flat rate – starting from 3.19% per annum

Reducing balance rate – starting from 5.98% per year

  • Maximum loan amount - AED 1,500,000
  • Up to 80% financing on the car’s cost
  • Loan available for both new and used vehicles

Car loans for salaried employees

Flat rate – starting from 2.49% per annum

Reducing balance rate – starting from 4.72% per year

  • Loans up to 80% of the car’s value. 
  • Maximum loan amount - AED 1.5 million 
  • Up to 180-day moratorium 
  • Promotional rates for limited periods

Etihad Guest Car Loan

Flat rate – starting from 2.99% per annum

Reducing balance rate – starting from 5.62% per year

  • Up to 100% financing
  • 350 miles for every AED 20,000 loan
  • Maximum loan amount - AED 1.5 million

2. Abu Dhabi Commercial Bank (ADCB) Car Laon

Type of Loan

Interest Rate

Salient Features

ABCB Car Loan

Flat rate – starting from 1.99% per annum

Reducing balance rate – starting from 3.65% per year

  • 50 TouchPoints for each AED 1000 borrowed
  • Up to 80% of finance
  • Maximum loan amount - AED 1.5 million
  • One-signature application
  • Repayment tenure of 60 months

3. Emirates NBD Car Loan

Interest rates start from 1.99% per annum at a flat rate

Type of Loan

Salient Features 

Fixed rate auto loan

  • Half-day loan approvals
  • Free bank account and credit card
  • Preferential car insurance rates

Personal contract purchase

  • Tenure of 24 or 36 months
  • Financing up to 80%
  • When the tenor ends, refinance the loan, pay the final instalment and own the car or return the car back under the ‘Buy Back’ option

Same-day finance

  • Buy with Cars24 and get 7-day return with 100% refund
  • Warranty for 24 months and 40,000 km
  • Free insurance and registration 

Auto cash loan

  • Loan up to 75% of the car’s invoice value
  • Preferential interest rates
  • Up to 60 months repayment tenure

Green auto loan

  • Loan for electric cars
  • Half-day approvals

Fixed deposit auto loan

  • Convert your down payment into fixed deposits that yield interest
  • Free annual registration renewal
  • Free bank account and credit card

Business vehicle loans

  • Loan for commercial vehicles
  • Maximum loan amount - AED 3.5 million

Auto swap

  • Interest rates start from 3% per annum on a flat rate basis
  • Up to 80% finance option
  • Same-day loan processing

Commercial vehicle and construction equipment loan

  • Maximum loan amount - AED 7 million
  • Finance up to 90%
  • Loan tenure up to 48 months

4. Emirates Islamic Bank Car Loan

Type of Loan

Interest Rates

Salient Features 

Auto Finance

Starting from 2.15% on a flat rate basis

  • Repayment tenure up to 5 years
  • Grace period of 60 days before the first instalment
  • Sharia-compliant loan

Eligibility Criteria for Renault Car Loan

Renault car finance eligibility criteria are often lender-specific, i.e., each lender has specified criteria. However, a few basic eligibility parameters may apply in all cases which are given as follows:

  • Age - Most lenders allow borrowers aged 21 years and above to get Renault car loans. Maximum age criteria may also be applicable for the loan, which usually ranges between 65 and 70 years. Maximum age criteria may differ for each bank or as per the nationality of the borrower.
  • Type of Employment- Renault car loans are available for both salaried and employed individuals. Different additional eligibility criteria may apply for salaried and self-employed individuals though, 
  • Minimum Income - Your monthly income determines your repayment capacity which is why lenders specify a minimum monthly income for all kinds of loan products. Most lenders allow borrowers with a minimum salary of AED 5000 per month to get auto loans. If you are a business owner, the minimum income will be different for you. The minimum income requirement may also vary for each lender. 
  • Residential Status - Renault car loans can be availed by UAE nationals as well as expatriates. Proof of nationality and valid residential status is required to get an auto loan. UAE nationals require their emirates ID and passport as identity proof. Residents require their passport, resident’s visa and emirates ID as identity proof. 
  • Credit Score - Most banks and finance houses prefer a good or medium category credit score. Credit scores above 650 are considered good credit scores and will help you in getting your Renault auto loans quickly. 

How to Apply for a Renault Car Loan?

Applying for your Renault auto finance is easy and swift with Policybazaar.ae, our official website. Simply visit our car loan section and locate the lead form. Fill out the form and submit it to get Renault car loan quotes. Compare and choose a suitable loan plan from the available options. Fill out the application form and complete the process. Your application will be sent to the bank directly and an executive will contact you to complete the loan disbursal process. 

Why Apply with Policybazaar.ae?

  • Our integrated platform makes it easy to research, compare and purchase Renault auto loan products. You can complete every step involved in the purchasing process without switching tabs and windows. 
  • The in-house team of financial experts we have is ever-ready to guide you towards making the right financial decisions and choosing the most suitable products. 
  • You can trust our customer support team to assist your any time of the day and solve all your car loan related issues in real-time. 
  • Partnering up with the best banks and finance houses in the UAE, we present you with a collection of the best Renault car loan products with highly competitive interest rates. 
  • You can use our infinite knowledge base to research any finance-related topic and make ideally informed decisions. 

Documentation Required for Renault Car Loans

Given below are the documents required to get Renault car loans in the UAE:

If you are salaried:

  • Application form of the loan, filled and signed
  • Emirates ID
  • Copy of your passport
  • Copy of the driving license
  • Visa copy that shows your residential status
  • Bank statement of the last 3 to 6 months
  • Salary slips 
  • Copy of the salary certificate (If your salary gets credited in the account held with the lender itself, you will not be required to submit your salary certificate)

If you own a business:

  • Application form of the loan, filled and signed
  • Emirates ID
  • Copy of your passport
  • Copy of the driving license
  • Visa copy that shows your residential status
  • Bank statement of the last 3 to 6 months
  • Trade license of the business
  • Copy of the Memorandum of Association and Articles of Association if your business is a Limited Liability Company (LLC)
  • Power of attorney 
  • Audited financial statements of the company (past 1-2 years)
  • Partnership agreement your business is a Limited Liability Company (LLC)

Other important documents (for salaried and self-employed individuals)

  • Quotation from the car’s dealer stating the price of the car
  • Evaluation from the dealer if you are buying a used car

What are the Advantages of Having Renault Car Finance in the UAE?

There are several advantages of getting a Renault car loan to finance your new car. Some top ones are mentioned below:

  • Renault car loans available in the UAE are unsecured loans. This means that you don’t have to pledge any security or collateral for the loan. You can get your loan simply by clearing eligibility parameters.
  • The loan is processed quickly and loan amount disbursals are swift as well. This helps in getting the funds to own your dream car as soon as possible.
  • Renault car loans are available for both new and used cars which gives you the flexibility to buy any car you like.
  • Most banks offer high financing amounts and financing ratios for the loan. You can get up to 80% of the car’s value financed which makes covering the down payment easy and affordable.
  • Opting for a Renault car loan instead of paying upfront for the car allows you to save your emergency funds and retain your savings. You have the liberty to invest your money in return-yielding options now.

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How to Calculate EMI for Renault Car Finance?

Your monthly installment amount for the loan can be calculated using a few mathematical formulas. However, the calculations can be complex and time-consuming. You can use EMI calculators to calculate the EMI instantly instead of getting into the calculations yourself. You can calculate your EMIs using any available online car loan calculator using the following steps:

  • Enter variables like the loan amount, loan tenure, and interest rate. Some calculators come with pre-set base interest as well. 
  • Check if the calculator requires you to enter the down payment. Fill out the required details if the section is available. 
  • Based on these details, the calculator would calculate and show you the EMI payable for the loan. You can adjust the EMI by adjusting the variables

Renault Car Finance Repayment Options

Following are the different ways you can opt to repay your Renault auto finance amount:

  • Equal Monthly Payments: This is the simplest mode of repaying the loan. With this option, you are required to pay equal installments every month over the complete duration of the repayment tenure. Equal monthly installments are calculated using flat rates of interest. 
  • Balloon Payment : Under balloon payment, the borrower repays the loan in a lump sum after the repayment tenure expires. The borrower can choose to pay a part of the loan using equal monthly payment plans as well.
  • Reducing Monthly Payments : Reducing monthly payment amount is calculated using a reducing the rate of interest on the remaining outstanding balance of the loan. The installment amount gradually decreases as the loan tenure comes to an end. 

Most lenders offer an equal or reduced monthly payment system for repayment of the loan. However, you might find balloon payment options with some lenders in the UAE. Payments for your loan installments can be made using online options like net banking and mobile banking. You can also use offline options like cash and cheque deposits.  

Let’s look at some of the most popular Renault cars in the UAE:

Car Model

Car Price (OTR in Abu Dhabi)

Renault Duster

From AED 51,900 to AED 71,000

Renault Captur

From AED 51,500 to AED 70,900

Renault Koleos

From AED 75,075 to AED 115,000 

Renault Symbol

AED 38,500

Renault Dokker Van

AED 43,995

Renault Megane RS

AED 119,900

Renault Zoe 

AED 137,025

Frequently Asked Questions

What is the processing fee payable for the Renault car loan?

The processing fee depends on the charge structure devised by the lender. It may vary across lenders. 1% of the loan amount is levied as a processing fee by most lenders though.

If I have a low credit score, can I get a car loan?

Getting a car loan with a low credit score depends on the lender’s risk appetite. Some lenders do offer Renault car loans to borrowers with a low or bad credit score in the UAE.

What is the highest loan amount available for Renault car loans?

The loan amount you get depends on your income and other eligibility parameters. Most lenders offer loans up to AED 1.5 million as auto loan amounts in the emirates.

What is the meaning of early settlement fees?

The early settlement means repaying the outstanding loan before the repayment tenure expires. The fee charged by banks for early settlements is called the early settlement fee.

How much down payment is required for Renault car loans?

Most lenders require a minimum down payment of 20% for car loans. This amount might increase if you are buying a used car or decrease as per the loan product you choose and nationality.

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