• National Bank of Umm Al-Qaiwain Car Loan in UAE

    NBQ

    Highlights of NBQ Car Loan:

    NBQ offers car loans for UAE nationals and expats. Some of the highlights of the loan are:

    • Interest rates beginning from 2.75% p.a.
    • Auto loans may be availed by both private citizens as well as corporations.
    • Extended repayment period up to 5 years.
    • The maximum loan amount that can be availed is AED 500,000.
    • This loan is not applicable for purchasing used cars.
    • Customers are given a free credit card after their loan formalities are completed.
    • Quick processing and hassle free application.

    You’re probably eligible for National Bank of Umm Al-Qaiwain Car Loan if you are

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    National Bank of Umm Al-Qaiwain Car Loan Minimum Age

    No Info

    National Bank of Umm Al-Qaiwain Car Loan Maximum Age

    No Info

    National Bank of Umm Al-Qaiwain Car Loan Eligible Employment Type

    Salaried or self-employed with regular income

    National Bank of Umm Al-Qaiwain Car Loan Minimum Income

    Earn more than the minimum income required


    Your National Bank of Umm Al-Qaiwain Car Loan amount eligibility is based on these factors

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    National Bank of Umm Al-Qaiwain Car Loan Minimum Salary

    No Info

    National Bank of Umm Al-Qaiwain Car Loan Maximum Loan to Value

    Loan capped upto AED 500,000

    National Bank of Umm Al-Qaiwain Car Loan EMI

    EMIs of other loans lower your eligibility


    Increase your eligible National Bank of Umm Al-Qaiwain Car Loan amount by these steps

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    National Bank of Umm Al-Qaiwain Car Loan Payoff Outstanding Credit Card Bills

    Pay off your credit card bills

    National Bank of Umm Al-Qaiwain Car Loan Maximum Tenure

    Choose longer tenure loan up to 5 years


    National Bank of Umm Al-Qaiwain Car Loan Interest RatesUpdated on 09 Dec 2016

    National Bank of Umm Al-Qaiwain Car Loan Details
    Interest Rate (Monthly reducing balance) 2.75%

    About National Bank of Umm Al Qaiwain

    NBQ, the erstwhile National Bank of Umm Al Qaiwain, was established in 1982 by the then ruler of the Emirate of Umm Al Qaiwain, Sheikh Rashid Bin Ahmed Al Moalla. It was renamed as NBQ in 2005. The majority stakes in NBQ is held by the Umm Al Qaiwain government. At present, NBQ operates 30 branches in the Emirates.

    NBQ has one of the highest CAR (Capital Adequacy Ratio) rates in the United Arab Emirates. It also has one of the highest percentages of Emirati workers on its payroll. It has been awarded the top place by the Emirates Institute of Banking and Financial Studies (EIBFS). NBQ has been regularly awarded for its community building exercises as well as focus on recruiting more Emiratis.

    Eligibility Criteria for NBQ Car Loan:

    • Applicants must be minimum of 21 years of age and should show an income source to be eligible.
    • UAE nationals and expats can apply.

    Benefits of NBQ Car Loan:

    • Maximum loan amount is high compared to competitors.
    • Loans are available for companies also.
    • Low interest rate compared to other banks.

    Why you should look for an auto loan?

    Auto loans provide customers with a great opportunity to purchase their first vehicle. Paying upfront for a new car is something that isn't possible for everyone - but with a car loan, even newly-employed individuals can afford their own vehicles. In general, up to 80% of the overall price of the new vehicle will be paid by the bank. This leaves only a fifth of the total amount to be paid by a prospective customer.

    The loan repayment period can be selected by a customer within the upper limit of 60 months. This allows for very low monthly repayment amounts. Most banks will also allow early repayment options with reduced interest rates.

    NBQ and other regional banks are notable for their Islamic banking schemes, which provide attractive interest and repayment options. In general, these schemes are based on Shari'a laws and draw upon the financing available for Islamic financial systems.

    NBQ offers a wide range of products and services to its customers. NBQ has branches located in Sharjah, Dubai, RAK, Ghusais, Abu Dhabi, and Al Ain.

    Other Products offered by NBQ are:

    NBQ Personal Loan

    NBQ Home Loan

    NBQ Credit Cards

    NBQ Fixed Deposits

    Frequently Asked Questions - FAQs

    1. What is the Insurance Coverage on Auto Loans to UAE Nationals?
    2. NBQ offers a unique protection benefit which safeguards you and your family.

      The offer is designed to ensure continued financial stability to you and your family by taking away the financial burden on them to pay loan outstanding in the event of your
      unfortunate Loss of Life or Permanent Total Disablement. The protection benefit
      would provide you absolute peace of mind by waiving off your entire loan outstanding with NBQ in case of any eventuality subject to terms and conditions of the Insurance Company.

    3. What are the other benefits of availing National Bank of Umm Al-Qaiwain’s car finance?
    4. Availing a car loan from National Bank of Umm Al-Qaiwain comes with a number of perks such as: A) The loan is available for a number of vehicles. B) The rate of interest is quite competitive in the market, starting as low as 2.49% flat, for new vehicles. C) You don’t require a minimum balance in your bank account in case you wish to avail the auto loan. D) The borrower also receives a pre-approved free NBAD Credit Card with lifetime validity.

    5. Is Islamic banking available at National Bank of Umm Al-Qaiwain?
    6. NBQ and other regional banks are notable for their Islamic banking schemes, which provide attractive interest and repayment options. In general, these schemes are based on Shari'a laws and draw upon the financing available for Islamic financial systems.

    While you are here, you may have a look at these:

    The best car loans of 2016 in the UAE.

    All the top banks in the UAE offer car loans with lots of attractive features and a wide range of benefits. But out of so many, which car loans have made it to the top list?

    Car loans in the UAE with 100% finance.

    There are many financial institutions in the UAE which finance 100% of the loan amount, and you do not need to pay any down-payment while buying the car.

    Car loans for the expatriates in the UAE.

    Even the expats in the UAE can buy the car of their dreams with a car loan as all the leading banks in the UAE offer car loans for the expats. It is an easy business, even though the expats will need to provide a little more information about themselves.

    Car loans for NRIs in the UAE.

    Whether for their family or for their personal use, the banks in the UAE offer NRIs staying there to apply for a car loan, especially designed for them. The NRI Car Loans are modified to make it easier for the NRIs to avail the loans.

    Car loan for buying commercial vehicle(s) in the UAE.

    Yes, you can. The banks in the UAE provide car loans even for buying commercial vehicle(s). Even these offer a wide range of benefits like high range of financing, flexibility of down-payments and longer tenures.

    What are Islamic Car Loans?

    Islamic Car Loan or Car Leasing or Car Ijarah these all are just another terms for Islamic Car Financing in the UAE. It differs a lot from the conventional banking mode and is based on the Sharia principles of the Islamic law. Best thing, its interest free!

    News about NBQ Car Loan

    • Capital Intelligence Confirms Stable Outlook for National Bank of Umm Al Qaiwain

      Capital Intelligence recently announced that the National Bank of Umm Al Qaiwain in UAE had its Financial Strength Rating maintained by the global credit rating firm, reflecting its profitability, liquidity and CAR (Capital Adequacy Ratio).

      The worldwide financial crisis in 2008 obstructed the asset quality ratios of NBQ by weakening it to a significant extent, while the non-performing loan ratio did not reduce either. However, recent months have recorded no major rises in non-performing loan ratios. Although the loan-loss reserve coverage ratio of the bank has also improved over the course of the past year, it still remains low. Capital has offered a sort of cushion, though, bringing the effective non-performing loan coverage ratio to a fairly good level. The leverage ratio has also reduced thanks to the influx of capital.

      The Capital Adequacy Ratio of the National Bank of Umm Al Qaiwain remains strong, so much so that it ranks among the best banks in the UAE. The liquidity ratios of the bank are also strong as capital and customer deposits continue to fund the bank, thus flashing the proverbial light at the end of the tunnel following its recent turmoil.

      4th September 2015

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