Personal Vehicle loan
| Borrow | Interest rate | Repayment period | Down payment | |
|---|---|---|---|---|
| Up to AED918,000* | Competitive interest rates | From 12 to 60 months* | 20% |
Here's what you get:
- Fast and easy approval
- No salary transfer to HSBC required*
- High loan amounts up to AED918,000 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
- To 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 AED7,500* per month
*HSBC MEFCO terms and conditions apply.
| DESCRIPTION | FEE |
|---|---|
| Processing fee 1% of loan amount | Minimum AED500 |
| Maximum AED2‚500 | |
| Early settlement for car loan | 1% of remaining balance |
| Advance payment of instalment | 1% of advanced payment |
| Change of due dates on standing instructions | AED25 |
| Courier charges | AED30 |
| Express charges | AED450 |
| Instalment deferment charges | AED100 |
| Loan rescheduling fee | AED250 |
| Loan cancellation | AED100 |
| Liability certificate | AED100 |
| Late payment fee | AED200 |
| Post-dated cheque service | AED250 |
| Return cheque | AED100 |
| Release for repossession | AED100 |
| Stop payment (per instrument/cheque) | AED50 |
| Statement request | AED25 |
| Traffic letters service charges | AED250 |
| Travel permission outside the UAE | AED300 |
Employed individuals buying new/used vehicles from authorised dealers:
- 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 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 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 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 etc
*HSBC MEFCO terms and conditions apply.
Ready to apply?
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