Green Auto Loans

Green auto loans, as the name suggests, are specialised financing options for environmentally friendly vehicles such as electric and hybrid cars. These loans often come with favourable terms — lower interest rates, flexible repayment options, and more.

By choosing a green automobile, you not only contribute to the environment but also save on fuel and maintenance costs, making it an attractive option for eco-conscious consumers. With a green auto loan, you can easily do just that without straining your savings.

Best Green Car Loans in the UAE

Mentioned below are the top 8 green auto loans in the UAE along with their key features and benefits:

FAB Green Car Loan

• A monthly salary of at least AED 7,000 is required.
• Finance options are available for new and pre-owned cars.
• Attractive interest rates are offered to UAE nationals and expats.

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Emirates NBD Green Auto Loan

• This loan option is available for new and used cars.
• Deferment period of up to 90 days available before the first instalment
• Easy loan application process and quick documentation
• Free credit card offering and 0% instalment plan applicable to all automatic vehicles

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ADCB Green Car Loans

• Finance amount of up to AED 1.5 million
• Financing is available for up to 80% of the car value.
• Flexible loan repayment of up to 60 months
• Quick loan application approvals and easy documentation
• Finance options available for electric chargers and accessories as well
• Availability of insurance finance

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ADCB Green Car Finance

• Finance amount — Up to AED 1.5 million
• Financing is available for up to 80% of the car value.
• Flexible loan repayment of up to 60 months
• Swift loan application approvals and seamless documentation
• Availability of Takaful insurance finance
• Exceptional discounts on profit rates and processing fees

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RAKBANK Green Auto Loan

• Quick and convenient application process
• Flexible repayment tenure of up to 60 months.
• Attractive discount on auto insurance

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UAB Green Auto Loans

• Loan amount of up to AED 500,000
• Finance up to 80% of the car value
• Salary transfer is optional
• Flexible repayment tenure of 60 months

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NBF Green Auto Loan

• Financing amount of up to AED 1,000,000
• Finance up to 80% of the car value
• Flexible repayment tenure of up to 60 months
• Financing options are available for both new and pre-owned cars
• Quick loan application approvals

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DIB Electric Vehicle Finance

• Financing option for new as well as used cars
• Completely digital application process
• Salary transfer is not mandatory
• Quick and paperless application processing

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Top Green Car Loan Interest Rate

Refer to the table below to know the interest rates of the best green vehicle loans in the UAE -

Green Car Loan Products	Interest/ Profit Rates
FAB Green Car Loan	New Tesla Cars For UAE Nationals: Starting from 2.3% per annum For Expats: Starting from 2.54% per annum Old Tesla Cars For UAE Nationals: Starting from 2.6% per annum For Expats: Starting from 2.84% per annum
Emirates NBD Green Auto Loan	Starting from 3.75% — up to 9% on reducing balance per annum (Fixed rate — indicative)
ADCB Green Car Loans	Starting from 1.94% flat rate per annum
ADCB Green Car Finance	Starting from 1.94% flat rate per annum
RAKBANK Green Auto Loan	For Salaried Applicants: Starting from 2.45% flat rate per annum For Business: Starting from 3.45% flat rate per annum
UAB Green Auto Loans	NA
NBF Green Auto Loan	Starting from 2.5% per annum
DIB Electric Vehicle Finance	For new vehicles: Flat profit rate ranges between 1.89% to 2.8% per annum For used vehicles: Flat profit rate ranges between 2.15% to 3.5% per annum

Eligibility Criteria for Green Car Finance in the UAE

You must comply with the following eligibility criteria to obtain a green vehicle loan in the UAE -

Eligibility Criteria	Requirements
Age	You must be at least 21 years old
Car Type	You must own either an electric vehicle or a hybrid vehicle purchased from a dealership within the UAE
Nationality	You must be either a UAE national or an expatriate
Employment Status	You must be either a salaried or a self-employed individual

Note: This is a list of the common eligibility criteria. Your respective bank may have other eligibility requirements. Make sure to check for the same before proceeding with the application process.

Documents Required to Apply for Green Auto Loans in the UAE

Check out the list of common documents required for green auto loan application processing -

For Salaried Individuals

• Car quotation — for a new car
• Car valuation — for a used car
• Emirates ID (original and a copy)
• Passport (original and a copy)
• A valid copy of residence visa (applicable to expats)
• Valid salary certificate
• Duly filled car loan application form
• Latest 3-6 months’ bank account statement

For Self-Employed Individuals

• Car quotations — for a new car
• Car valuation — for a used car
• Original and a copy of Emirates ID
• Original and copy of passport
• A valid copy of residence visa (applicable to expatriates)
• Valid Trade Licence
• Duly filled car loan application form
• Latest 3-6 months’ bank account statement 

Note: Just like the eligibility criteria, the document requirements vary as per the bank. During the process, your bank may ask you to submit additional documents as per its requirements.

It is essential to confirm with the bank before applying regarding the documentation needed.

How to Apply for a Green Vehicle Loan via Policybazaar.ae?

On Policybazaar.ae, you can get the best options from the top providers in one place. You can also find the most attractive green car loan rates. 

Follow these steps to swiftly apply for a green auto loan in the UAE -

1. Head to policybazaar.ae, our official website.
2. Tap on the ‘Banking Products’ drop-down and select ‘Car Loans’.
3. Enter the correct details to fill out the lead form.
4. Submit it to be taken to the car loan quotes page.
5. Go through the list of products and select a suitable one.
6. Apply for it.

Note: We will review your loan application and contact you soon for further processes.

Policybazaar UAE: Helping you navigate the wilderness of the insurance world!

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