Suzuki Car Loan

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Over the years, Suzuki has made its mark as one of the most dependable automobile providers. In the UAE, the Suzuki cars are distributed by Al Rostamani Trading Company since 2002. All the cars offered by this brand ensure safety and value for money along with a comfortable driving experience. Suzuki also offers commercial fleet vehicles for serving the transportation requirements of the corporate sector. 

However, if you are an individual who wishes to purchase a Suzuki car without draining your savings, it is essential to take a Suzuki car loan in the UAE. The following sections will help you understand the reason you should take a Suzuki car loan in UAE, its features and benefits, the application process, and the documents required for the Suzuki car finance.

Features & Benefits of Suzuki Car Loan

Listed below are some benefits of availing of a Suzuki car loan -

  1. Competitive Interest Rates - This car loan is available at interest rates as low as 2% in the country. Moreover, a majority of the banks provide Suzuki car loans in both fixed and reduced interest types, thus, giving you a choice with respect to the repayment.
  2. Flexible Repayment Period - The top car loan providers in the UAE allow you to pay your Suzuki finance at your convenience with a tenure of your choice. Thus, you can choose the loan repayment tenure and the EMI amount to ensure a smooth repayment of the loan.
  3. Enhances the Credit Score - When you take a Suzuki car loan in the UAE and repay it as per the plan’s guidelines, you directly improve your credit score. This proves helpful in building your financial credibility and reputation with the banks. 
  4. Lower Income Requirements – With several car loans having minimum monthly salary requirements as low as AED 5,000, it becomes immensely easy for working individuals to own a private car in the UAE. 
  5. Car Purchasing Process Made Easy – Ultimately, with Suzuki car finance, you can easily own a car, with most car loan deals being simple and having low-interest rates that keep the instalments affordable. Such excellent car loans, besides simplifying the purchasing process, also reduce the time gap between saving up for the car and buying the car. 

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Documents Required for Suzuki Car Loans

The following are the documents necessary to secure a Suzuki car loan in the UAE from any of the leading providers -

  • Passport and resident Visa (if you are an ex-pat)
  • Emirates ID
  • Genuine car quotation
  • Driving licence
  • Signed Al Etihad Credit Bureau form

Documents Specific to Salaried Individuals 

  • Bank statements for the last 3 to 6 months
  • Salary certificate from the employer

Documents Specific to Self-Employed People 

  • Bank statements for the last 3 to 6 months
  • Trade licence

Documents Specific to Companies 

  • Bank statements
  • List of signing authorities on behalf of the company
  • Memorandum of Association
  • Trade licence

Interest Rates for Suzuki Car Loan

BANK NAME

INTEREST RATE (PER ANNUM)

ADCB Car Loan

  • Fixed Interest Rate - 1.99% 
  • Reducing Rate - 3.65% 

ADIB Car Loan

  • Fixed Interest Rate - 2.75% to 4.49% 
  • Reducing Rate - 4.75% to 8.25% 

Emirates NBD Car Loan

Fixed Interest Rate - 1.99% 

Emirates Islamic Car Loan

  • Flat Rate - 1.80% 
  • Reducing Rate - 2.95% 

HSBC Car Loan

Flat Rate - 1.99% 

Eligibility Criteria for Suzuki Car Loan

To get the best deals on Suzuki Car Loan, you should meet the following eligibility criteria -

  • Age - In the UAE, you should meet the least age criteria to qualify for the Suzuki car loan as specified by the institution giving the auto loan. Most banks in the country have a minimum age limit of 21 years. Moreover, several banks may impose an upper age limit that may be 65 or 70 years (depending on the applicant's job status, nationality, and more).
  • Nationality – While most banks in the UAE offer Suzuki car loans to UAE nationals, individuals with resident visas or ex-pats may find loan plans in limited numbers. Generally, you can easily expect auto loans if you are a UAE citizen, or a resident or visitor who has been in the country for a prolonged period.
  • Income Requisite: In order to be considered eligible for this car loan in UAE, you must fulfil the necessary income requirements as mandated by your loan provider. To qualify for a majority of auto loans, you must have a salary of at least AED 5,000 per month. Once again, it is essential to note that each bank and financial institution will have different income requirements for car loans.
  • Down Payment: Following the regulations of the UAE Central Bank, you must be able to pay 20% of the car's invoice price as a down payment to be considered eligible. In this case, the bank will cover the remaining 80% of the cost.
  • Credit Score: Albeit a secondary factor, banks and financial institutions in the UAE frequently examine your AECB credit score before extending you a car loan. While a few providers may approve your loan application even if you possess a low credit score, you can expect most banks to approve your application only if you have a medium or high credit score.

How to Apply for a Suzuki Car Loan in UAE?

As mentioned earlier, repaying a Suzuki car loan is fairly straightforward due to the low interest rates, flexible repayment tenures, and more. Applying for this car loan is similarly easy, as you can just continue on our website and apply for your preferred Suzuki car finance plan in the UAE.

Simply continue on policybazaar.ae, fill out the short form on the ‘Car Loans’ page, and get the most relevant plans for you on your screen in an instant! Here, you can check out the plans and compare their features, and make an application in no time. 

Applying for a car loan in UAE with policybazaar.ae can make the overall process immensely easy for you. In just one place, you get to check out the top plans at the best along with discounts and offers. And that’s not all, as you also receive quick resolution of your queries or concerns with our customer service and finance experts.  

Advantages of Having a Suzuki Car Loan in UAE

For UAE citizens or ex-pats who work in the country, purchasing a car using a car loan would prove a sensible choice. The same applies to Suzuki cars, as obtaining a loan to purchase this car can ensure that you complete the purchase without compromising your lifestyle. 

Discussed below are the key advantages of availing of the Suzuki car loan:

  • Technically speaking, you can get an auto loan without putting up any collateral as the vehicle itself serves as one 
  • As long as you make your payments on time, paying off your car loan can improve your credit score
  • To make it simpler for customers to repay their loans and give them full control over the monthly instalments, the leading banks provide flexible payment plans in the UAE
  • Car loan amounts can be altered and negotiated with lenders if customers have a strong credit history

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How to Calculate EMI for Suzuki Car Loan?

You can find out the EMI that you would need to pay for your loan by simply using an online car loan calculator, where the computed amount is based on the loan amount, interest rate, and the Suzuki car finance tenure. 

Using this online tool is hassle-free, as you can enter the above-mentioned details and press the “Calculate” button. The calculator will present the EMI breakdown for your Suzuki car finance in the form of an amortisation schedule, where you can find the total amount and the rate of interest to be paid. 

There are mainly 3 factors that affect your car loan computation -

  • Principal amount
  • Car loan tenure
  • Rate of interest

Charges and Fees Applicable for Suzuki Car Loan

SERVICE

CHARGES*

Loan Processing Fee

1.05% of the loan amount

Early Settlement fee

1.05% of the outstanding loan amount

Change in Payment Mode

Free

Late Payment Fee

AED 52.5

Deferment 

AED 105

Partial Settlement where the amount equals three instalments and more

1.05% of the total amount paid

Change of Registration

Free

Temporary Release of Mortgage

Free 

Rescheduling Fee

AED 262.5

Cheque Returned Charges

AED 105

Clearance Letter

Free 

Liability or No Liability Letter

AED 52.5

NOC to Traffic Department 

Free 

Direct Debit Return Charges

Free 

*As generally followed by loan providers in the UAE. Actual rates and fees may differ

Suzuki Car Finance Repayment Options

You can repay your Suzuki car loan either online or offline, with the repayment modes for each of them listed below –

Offline Payment

  • Via cheque
  • Cash payment

Online Payment 

  • Mobile banking
  • Net banking 

CAR NAME

PRICES STARTING FROM

Suzuki Baleno

AED 45,900

Suzuki Ertiga

AED 48,900

Suzuki Ciaz

AED 45,900

Suzuki Jimny

AED 73,000

Suzuki Dzire

AED 36,900

Suzuki Vitara

AED 64,900

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Frequently Asked Questions

Is there an option of early payment on the Suzuki car finance in the UAE?

Several banks allow the early payment of your car loan after the repayment of the first 12 EMIs. However, the actual condition can differ as per the bank.

What is the minimum salary requirement to avail of a Suzuki car loan in the UAE?

Based on the bank you choose, the basic salary for applying for a Suzuki car loan ranges from AED 3,000 to AED 5,000.

What are the factors that affect your eligibility for the Suzuki car finance?

The following are the factors that affect your car loan eligibility in the UAE -

  • Credit score
  • Income
  • Type of car
  • Nationality
  • Debt-to-income ratio
Can you purchase a car using a personal loan instead of the Suzuki car loan?

While a personal loan can be used to purchase a car, it has certain drawbacks that you should be aware of. Generally, you will spend far more with a personal loan instead of a car loan as personal loans often have higher interest rates than automobile loans. The only positive aspect of personal loans here is that you may get 100% financing and avoid making a down payment. Ultimately, it is more advisable to opt for Suzuki car finance to purchase a car of this brand instead of a personal loan.

 

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