Source: Emirates NBD
Emirates NBD, a leading bank in the region, announced a host of Auto Loan offers this Ramadan, starting with the roll out of the Emirates NBD Accelerator Auto Loans Program.
The new offering enables customers to pay lower monthly instalments for the initial loan period, enabling customers to purchase their car of choice without undue burden on their wallets. The program has been put together based on customer feedback received through a recent poll conducted by the bank over social media.
Emirates NBD Accelerator Auto Loans Program is available for eligible customers for loan amounts ranging from AED 35,000 to AED 450,000, across all automobile models and for all auto dealers in the UAE. Customers can choose from three variants, opting for lower instalments for the first 6, 12 or 24 months of the loan.
The bank has further partnered with various automotive brands across the UAE this Ramadan to offer a 120 day first payment holiday for new auto loan bookings and up to two deferred instalments yearly, including one free of charge deferment for existing auto loan customers.
“Our customers have come to expect exceptional value from us and our auto loan offers this Ramadan are designed to create even more value and customer delight,” said Suvo Sarkar, Senior Executive Vice President & Group Head - Retail Banking and Wealth Management, Emirates NBD. “Customers can choose from our wide range of offers that provide convenience and flexibility, complemented by our exceptional service.”
Mr. Richard Kassaby, Managing Director, Al-Futtaim Finance, commented: “Emirates NBD is an exceptional partner for Al Futtaim Automotive this Ramadan as we look to deliver added value to our customers through a range of flexible financing mechanisms. The choice of options is unparalleled in this market and provides our customers the unique ability to make choices according to their individual circumstances.”
Further, customers can choose to purchase any car of their choice with their Emirates NBD Credit Card and can avail an exclusive offer of 0% interest rate on their card monthly installments, for up to 24 months and with zero fees. The bank is also offering preferential interest rates starting as low as 1.99% flat per annum (3.76% reducing rate per annum) across all new auto loans.
Added Geoff Dowding, Chief Operating Officer, Al Habtoor Motors: “We are delighted to partner with Emirates NBD, who have the right products for the market today backed by great service”
Mr. Vijay Rao, General Manager, Al Nabooda Automobiles LLC, the Porsche Importer for Dubai & Northern Emirates, said: “Ramadan is a celebration of giving and goodness, and our partnership with the UAE’s leading bank, Emirates NBD enables us to reward our customers with a range of amazing offers.”