abal banking car loans

Good question, as it really depends on how you intend to use your loan and if you are happy with the rate attached. For instance, say you want to lock your interest rate in for the entire loan term, then you would select the fixed rate option as you’ll know exactly what your repayments will look like. But if you don’t mind the possibility of a future rate change up or down, go for a variable rate car loan. That way, if you decide to repay your debt early, you won’t get stung by a penalty fee.

If you can secure your car to the loan, you’ll receive a lower interest rate. Arab Bank can also accept property as security, so be sure to check out your options with them if you’re after a secured loan to buy a preloved car. Prefer a no fuss loan with less paperwork? Go for an unsecured loan and pay a little more interest in return.

Every loan applicant has different financial circumstances, so it’s hard to give a definitive answer. But if you’re eligible, the price tag of your car can range from $5k to $50k. Looking for more credit than that? Return to our car loans hub and browse through other options in the market.

It’s up to you, with a choice between weekly, fortnightly or monthly repayment dates.

Loan terms are written up to last from 1 - 5 years.

You can make additional repayments on any of the loans described on this page. Just remember, there isn’t a redraw facility so make each one wisely!

There are a few Arab Bank branches around the country, but you can also call its customer service line or apply for a car loan online. To speed up the time it takes, gather up the following personal info to supply them with:

• Your ID (driver’s licence and passport number)

• Details of income, assets and liabilities

• Proof of address

Once you’ve hit “send” on the official site or handed them your form, you’ll likely hear back from the bank within a few business days.