| Motari |
| |
| MOTARI is NBAD car loan scheme that offers you attractive options and competitive interest rates. Once we receive all required documents we will process your application promptly.
We have already taken care of the formalities with third parties, so you can enjoy your new/ used car with no unnecessary delay.
|
| |
| Features & Eligibility: |
- Loan is available for UAE Nationals & Resident Expatriates.
- Competitive Interest Rates.
- Grace period of 60 days both for new and used cars.
- Age should be between 21 and not to exceed 65 Years at the end of repayment period.
|
| |
| NBAD salary transfer customers : |
1. Minimum salary is AED 7,000/-
2. Minimum 3 months of service with present employer for Expatriates / (No minimum Length of service is required for UAE Nationals).
3. Maximum loan amount AED 350,000
4. 0% down payment on new or used cars
5. Repayment period up to 84 months for NEW cars and 48 months for USED cars.
6. 100% insurance premium finance.
|
| |
| Non – NBAD salary transfer customers : |
1. Minimum salary is AED 10,000/-
2. Minimum 1 year of service with present employer.
3. Maximum loan amount AED 200,000 / -
4. Minimum down payment 10% on new cars & 15% on used cars.
5. Repayment period up to 60 months for NEW cars and 48 months for USED cars.
|
|
For used cars:
|
- Used cars should not exceed 4 years old.
- Evaluation from authorized dealers is required (for authorized dealers list click here ).
|
| |
Interest Rates:
|
For NBAD salary transfer customers |
New vehicles |
Repayment up to 48 months |
4.75% Flat per annum |
Repayment over 48 months |
5 % Flat per annum |
Used vehicles |
Repayment up to 24 months |
4.75% Flat per annum |
Repayment over 24 months |
5.5% Flat per annum |
For NON-NBAD salary transfer customers |
New vehicles |
5.5% Flat per annum |
Used vehicles |
6 % Flat per annum |
|
| |
| Documents Needed: |
- Valid passport copy.
- Salary certificate addressed to NBAD not more than one month old.
- Last three months bank statement for new customers.
- Valid driving license copy.
- Quotation or Pro-forma invoice from dealer.
- Valuation from authorized dealer for used vehicles (for authorized dealers list click here ).
|
| |
| *All Loans are subject to Bank’s approval.
For more details call 8002211 or visit any of NBAD branches.
|
| |
