Car Loans
| Borrow | Interest rate | Repayment period | Down payment | |
|---|---|---|---|---|
| Up to AED 918,000* | From 2.49% p.a. | From 12 to 60 months* | 20% |
Here's what you get :
- Fast and easy car loan approval
- No salary transfer to HSBC required*
- High loan amounts up to AED 918,000 depending on your eligibility
- Reduced monthly instalments with 'My Choice'**
- Maximum finance range for ‘My Choice’ – 12 to 48 months
- Competitive motor insurance rate for saloons and four-wheel drives
- Defer your monthly instalment up to two times a year
- Dedicated sales advisers at your service
- Available for all types of vehicles and motorcycles
**To learn more about 'My Choice', please contact our call centre on 04 2948000.
More great benefits:
- Minimum balance waiver – get an HSBC current account with no minimum balance requirement for the duration of your loan
- Minimal paperwork
*HSBC MEFCO terms and conditions apply.
You can apply if:
- You are a UAE national or expatriate resident aged between 21 and 65 years
- You earn a minimum monthly salary of AED 7,500* per month
*HSBC MEFCO terms and conditions apply.
| DESCRIPTION | FEE |
|---|---|
| Processing fee 1% of loan amount | Minimum AED 500 |
| Maximum AED 2‚500 | |
| Early settlement for car loan | 1% of remaining balance |
| Advance payment of instalment | 1% of advanced payment |
*HSBC MEFCO terms and conditions apply.
Employed individuals buying new/used vehicles from authorised dealers:
- Valid Emirates ID
- Valid passport copy (valid UAE visa for expatriates)
- Valid UAE driving licence copy
- Copy of the last three months’ salary or income transfer bank statements (a longer period may be required if cheque returns are identified)
- Proof of income – salary certificate/salary transfer letter if salary is not assigned to HSBC Bank or other banks under narration Salary
- Repayment mechanism – standing instruction plus an undated security cheque from salary-assigned account
- HSBC Middle East Finance Company (MEFCO) application form and contract fully completed in block letters and signed in the presence of HSBC MEFCO staff
Self-employed individuals buying new/used vehicles from authorised dealers:
- Valid Emirates ID
- Valid passport copy (valid UAE visa for expatriates)
- Valid UAE driving licence copy
- Copy of the last six months’ personal and business bank statements
- Audited financials for the last two years*
- Repayment mechanism – standing instruction plus an undated security cheque from main operating account
- HSBC MEFCO application form and contract fully completed in block letters and signed in the presence of HSBC MEFCO staff
- Valid documents in support of business/partnership, ie trade licence copy, memorandum/articles of association, passport copies of owners/partners and additional documents can be requested based on individual requirements.
*HSBC MEFCO terms and conditions apply.
Ready to apply?
Have us call you
For a detailed list of fees and charges click here.
