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Finding the right car is only half the journey. It's important to get the right financing too, so you can always rest easy on the road.
Put your finances into perspective with our various loan calculators
See what your loan has in store for you here.
Types of Car Loans
Car Loans for Salaried Individuals
Own the car of your dreams with the FAB Car Loan for Salaried Individuals.
- Loans of up to AED 1.5 million or 80% of the car value
- Interest rates starting 2.15% (equivalent reducing rate of 4.10% per year)
- Minimum monthly salary of AED 7,000
Green Car Loan
Switch to an eco-friendly electric car with Tesla and FAB.
- Loans available for new and previously owned Tesla cars
- Enjoy best-in-class interest rates on the electric car of your choice
Car Loans for Self Employed Individuals
Embrace the road ahead with the FAB Car Loan for Self Employed Individuals.
- Loan amount of up to AED 1.5 million or 80% of the car value
- Rates starting 3.44% equivalent to 6.43% reducing rate per year
- A minimum average balance of AED 25,000 for the last three months
What are the eligibility requirements for a FAB Auto Loan?
The eligibility requirements will vary based on whether or not you are self-employed or a salaried employee. For employees, they should receive a minimum monthly salary of AED 7,000 and for those who are self-employed, they should have a monthly average balance of AED 25,000.
Will I need to make a down payment for an auto loan?
Yes. The minimum down payment required is 20% of the value of the car. Please reach out to a member of our team.
How much can I receive for an auto loan and how much will the installments be?
You can receive a loan of up to AED 1.5 million or 80% of the car value (this varies depending on the individual auto loan application). You can use our handy Indicative Loan Calculator to get an idea of what your monthly installments may be.
What is the minimum salary requirement for an auto loan?
The minimum salary requirement for an auto loan with FAB is AED 7,000 for salaried individuals, and AED 25,000 of 3 month average account balance for self-employed individuals.
Are there vehicle restrictions when applying for an auto loan?
The age of the vehicle should not be more than 8 years at time of maturity of the loan; however, for vehicles sold by key dealers like Al Tayer/Premier Motors, Al Habtoor, Abu Dhabi Motors etc, it can be up to 10 years at maturity of the loan.
Can I receive an auto loan from FAB if I am self-employed?
Yes! FAB offers car loans for self-employed individuals. You can find all the details here.
What kind of charges apply to a car loan?
Application processing fee of 1% of the loan amount is applicable.
Other charges include the interest component.
For used cars, a dealer valuation fees (payable to the valuator) may be applicable.
What are the interest rates for a car loan?
You can enjoy competitive interest rates on your car loan with FAB ranging from 1.99%* - 3.49% (flat rates) depending on the type of car, and internal bank policies.
*Flat rates are for illustration purposes, the applicable effective interest rates on car loan range between 3.79% to 6.51% per year.Get in touch
Need more help?
Contact us anytime for further assistance or check out our FAQ page for more information.
| For customers within the UAE | For customers outside of the UAE | ||
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600 52 5500 | |
+971 2 681 1511 |