United Arab Bank (UAB) Auto Loans

Minimum Salary
0,00 د.إ

Description

UAB’s Auto Loan suite—including conventional, Islamic (Murabaha), and Green Auto Loan—offers competitive flat rates from 2.99%–5.00% p.a., reducing-balance rates from 5.38% p.a., financing up to AED 500,000 (80% LTV), tenures up to 60 months, transparent fees, and flexible deferment, with no salary transfer required.

Features

Product Variants & Profit/Interest Rates

Product Variant	Rate Type	Flat Rate p.a.	Reducing Rate p.a.
Conventional Auto Loan	Flat/Reducing	2.99% p.a.	5.38% p.a.
Islamic Auto Finance	Murabaha fixed markup	3.25%–5.00% p.a.*	N/A
Green Auto Loan (EV/Hybrid)	Flat	2.75% p.a. (–0.25%)	5.13% p.a.

*Murabaha markup varies by applicant profile and tenure; illustrative range.

Financing Terms

Maximum Loan Amount: AED 500,000 (80% of car value)
Tenure: 12–60 months
Minimum Down Payment: 20% of vehicle price
First-Instalment Deferment: Up to 90 days (subject to approval)

Eligibility Criteria

Age: 21–60 years at loan maturity
Residency: UAE nationals, GCC nationals, expatriates with valid UAE visa
Minimum Salary: AED 7,500 per month (salaried)
Employment Tenure: ≥6 months with current employer
Credit: Acceptable Central Bank credit record
Salary Transfer: Not required

Schedule of Fees & Charges

Fee Type	Charge
Processing Fee	1.05% of loan amount – min AED 525, max AED 2,625
Early/Partial/Final Settlement Fee	1.05% of outstanding balance – no cap
Late Payment Penalty	AED 100 per missed instalment
Instalment Deferment	AED 100 per deferment; up to 2 deferments per year
Post-Dated Cheque Replacement	AED 100 per cheque
Cooling-Off Period	5 business days – full refund of processing fee
Vehicle Mortgage Release (post-settlement)	No bank charge (RTA fees apply separately)

All fees inclusive of VAT unless otherwise stated.

Documents Required

Identification: Emirates ID; passport with UAE visa copy
Income Proof (Salaried): Salary certificate; last 3 months’ bank statements
Business Proof (Self-Employed): Trade licence; last 2 years’ audited financials; last 6 months’ business statements
Vehicle Documents: Dealer’s proforma invoice/quotation addressed to UAB
Application: Completed loan application form; post-dated cheques for instalments

Additional Info

No Salary Transfer Requirement: Simplifies process for expatriates and GCC nationals.
Digital Convenience: Apply via UAB online banking or mobile app; receive decision within 5–7 business days.
Green Auto Loan Discount:25% rate reduction for electric/hybrid vehicles.
Flexible Repayment: Tenures up to 60 months; deferments to manage cash flow.
Transparent Terms: Flat-rate and APR illustrations provided in the Key Fact Statement.
Comprehensive Coverage: Support for new and used cars (up to 7 years old).
Optional Takaful Bundling: Islamic financing can include motor Takaful.