Car Loan with Salary Transfer

In the UAE, there are a number of banks and financial institutions offering quick approvals, fast disbursement, and minimum paperwork for auto loans. So, whether you’re an expat or a national, let’s get a quick look at the top banks providing a car loan with salary transfer in the UAE. 

Top Banks Offering Car Loans With Salary Transfer in the UAE

We have carefully compiled a list of the top banks in the UAE offering car loans with salary transfer: 

Bank Name	Key Features	Apply
FAB (First Abu Dhabi Bank)	High finance amount, up to AED 1.5 million For new and pre-owned cars No processing fees	Apply Now
ADIB (Abu Dhabi Islamic Bank)	Flexible repayment tenure Motor takaful protection  Minimum documentation	Apply Now
ADCB (Abu Dhabi Commercial Bank)	Competitive interest rate New, used, and green car loan options are available  Finance up to 80% of the car’s value	Apply Now
Emirates NBD	Variety of car loan options 100% digital application process Simple documentation	Apply Now

Interest Rates on Auto Loan with Salary Transfer 

Car loan with salary transfer is available at competitive rates in the following banks: 

Top Banks	Interest Rates
FAB (First Abu Dhabi Bank)	UAE Nationals Fixed Rate: Starting from 2.15% Reducing Rate: Starting from 4.1%
	For Expatriates Fixed Rate: Starting from 2.29% Reducing Rate: Starting from 4.35%
ADIB (Abu Dhabi Islamic Bank)	Fixed Rate: Starting from 1.79% Reducing Rate: N/A
ADCB (Abu Dhabi Commercial Bank)	Flat Rate: Starting from 1.75% Reducing Rate: Starting from 3.35%
Emirates NBD	Starting from 3.75% (Varying interest rates for different loan types)

✍️Note: It’s essential to check the interest rates on car loans with salary transfer from the bank’s official site, as these can change over time. 

Eligibility Criteria for a Car Loan With Salary Transfer

To apply for an auto loan with salary transfers in the UAE, you must meet the following eligibility criteria set by the top banks: 

Banks	Minimum Salary Requirement	Age	Nationality
FAB (First Abu Dhabi Bank)	AED 7,000	At least 21 years	For both UAE nationals and expats
ADIB (Abu Dhabi Islamic Bank)	AED 5,000	Minimum 21 years Maximum 65 years for nationals and 60 for expatriates	For both UAE nationals and expats
ADCB (Abu Dhabi Commercial Bank)	AED 5,000	At least 21 years old	N/A
Emirates NBD	AED 5,000	At least 21 years old	N/A

Necessary Documents for a Car Loan with Salary Transfer 

Here is a checklist of required documents for an auto loan with salary transfer in the UAE: 

✔️Emirates ID

✔️Passport copy 

✔️Car quotation 

✔️Driving license

✔️Bank statements

✔️Salary certificate

✍️Note: You may be required to submit some additional documents if requested by the concerned bank or financial institution. 

How to Apply for a Car Loan with Salary Transfer in UAE? 

With Paisabazaar.ae, you can get the best car loan offers in the UAE. The online platform is reliable and associated with top loan providers across the country. 

Follow the steps mentioned below to get a car loan with salary transfer: 

➡️Visit the homepage of Paisabazaar.ae and select the ‘Car Loans’ option.

➡️Provide your details in the given form. 

➡️Get the quote page with the top loan providers, and filter car loan options with salary transfer.

➡️Compare the features and benefits of all the available options.

➡️Apply for the best one, meeting your financial needs.

It’s done! One of our representatives will reach out to you and guide you through the further steps. 

Factors to Consider When Applying for a Car Loan with Salary Transfer 

When applying for an auto loan with salary transfer in the UAE, you need to consider the following factors: 

Salary Transfer Requirement

Banks need your salary to be transferred to them to approve the loan and offer better rates. This serves as a proof of job stability and repayment ability. So, check this requirement carefully of the bank from which you are applying for the loan. 

Interest Rate Type

Choose between flat or reducing rates, whichever fits your financial requirements. With salary transfer, you usually qualify for cheaper interest rates. This means lower monthly EMIs and no burden on your pocket. 

Debt Burden Ratio (DBR)

Make sure that your debt burden ratio (DBR) does not exceed 50% of your income. It ensures you can afford the loan without financial stress.

Credit Score

A good aecb credit score helps in faster approval and better loan terms. Apply for a car loan with a credit score more than 750 in the UAE for the best deals. 

Down Payment

You must pay at least 20% upfront while getting a car loan in the UAE. This reduces your loan amount and shows financial commitment, which banks value highly.

Frequently Asked Questions