Emirates NBD reduces interest rates on auto loans to as low as 2.99 per cent this summer

Press release

Published June 26th, 2011 - 07:42 GMT

Al Bawaba

This summer, Emirates NBD, a leading bank in the region, is cutting interest rates across the board on all its auto loan categories for purchases of both new and used vehicles. The offer is valid for a limited period and extends to salaried, non-salaried, self-employed as well as corporate customers.

“Emirates NBD has been able to garner a large market share of the automotive business, given its innovative products and strategic tie-ups with leading automotive dealers and manufacturers,” said Shekhar Krishnamurthy, Head of Retail Assets and Liabilities, Emirates NBD. “This new pricing promotion, along with recently launched products providing customers with options of guaranteed buy-back and staggered installment plans, will help customers in providing flexibility to buy the car of their dreams.”

The summer offer applies to existing Emirates NBD customers as well as new account holders. Flat rates start from only 2.99 per cent per annum, depending on customer category, the payment mode and whether it is for paying toward a new or used vehicle.

“Customer-centric promotions such as this enable us to provide enhanced value and choice for our customers while facilitating their lifestyle and spending needs. For consumers looking to purchase new or used vehicles, there has never been a better time.” added Krishnamurthy.

Background Information

Emirates NBD

Emirates NBD, the leading banking group in the region, was formed on 19 June 1963, when H.H. Late Sheikh Rashid bin Saeed Al Maktoum signed the Charter of Incorporation of the National Bank of Dubai (NBD) which became the first National Bank established in Dubai and the United Arab Emirates (UAE). With the blessings of H.H. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, NBD merged with Emirates Bank International (EBI) on 06 March 2007, to form Emirates NBD, the largest banking group in the region by assets. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM). The merger between EBI and NBD to create Emirates NBD, became a regional consolidation blueprint for the banking and finance sector as it combined the second and fourth largest banks in the UAE to form a banking champion capable of delivering enhanced value across corporate, retail, private, Islamic and investment banking throughout the region.