Personal Loans For Expats

There are many banks and retail financial institutions that offer Car Loans for Expats, more popularly known as Auto Loans in Bahrain. The banks and other institutions have different eligibility criteria for loans.

Car Loans are one of the best solutions for buying the car of your dreams with just a bit of help, through financing. As we all know expat loans are different from Bahraini Loans, as sometimes the interest rates and the amount that can be loaned varies.

The best car loans available for expats are listed below along with features and eligibility criteria:

Bank of Bahrain and Kuwait Car Loans for Expats

BBK gives you the chance to buy your dream car without high-interest rates and on easy application methods.

  • Fast approval
  • Payment period of up to 7 years
  • Flat rate of 4.5% and reducing rate of 8.1%
  • Multi-tiered comprehensive insurance from Motor Secure
  • Zero down payment option is available
  • Automatic payment deduction from the account
  • Salary transfer and guarantor are not mandatory
  • Salary requirement of BHD 300 for expats
  • Net income of BHD 1000 for self-employed
  • Minimum 3 months of employment for salaried individuals
  • Residence permit valid for a minimum time of 3 months
  • Valid driver’s license
  • Duty signed car transfer form
  • Promissory Note

Arab Bank Car Loans for Expats

Arab bank auto Loans are flexible, easy and convenient. These car loans not only provide you an easy way to your dream car but also gives the customer a host of other benefits.

  • Interest Rate starting at 7.12%
  • Flat rate of 3.99% and Reducing rate of 7.18%
  • Loan amount of up to 75000 BHD
  • Free credit card
  • Preferential Insurance Rates
  • The maximum time period of 7 years
  • Financing up to 100% for new cars only
  • Dedicated sales team for any after sales help
  • Salaried customers and professionals
  • Salary transfer mandatory to Arab Bank
  • Utility bills in the name of the client
  • Dealer price Invoice
  • For used cars vehicle status and market price issued by an Arab Bank Evaluator

Standard Chartered Bank Car Loans for Expats

Bring your dream car home with easy financing from Standard Chartered Bank. Loans are available for all nationalities with just a few easy steps.

  • The maximum time period of 84 Months
  • A minimum time period of 12 Months
  • Loans for second-hand vehicles available
  • Flat rate of 3.5% and Reducing rate of 6.3%
  • Credit cards with preferential rates are offered
  • Minimum salary of BHD 300
  • Loans available for used vehicles maximum up to 10 years from the date of manufacturing

State Bank of India Bahrain  Car loans for Expats

State Bank gives the customer an opportunity to buy a used or new car through its simple and convenient financing System. SBI Auto Loans are available for all residents in just a few easy steps.

  • Maximum time period of 84 Months
  • Maximum amount up to 18 times net monthly salary (depending on EMI not exceeding 50%) or 90% cost for new cars and 80% of the value for used cars.
  • Flat rate of 2.65% and Reducing Rate of 5%
  • No prepayment penalty.
  • Processing fee of either 75 BHD or 200 BHD depending on the loan amount.
  • Salaried individuals only
  • Age between 21- 25 years
  • Minimum Net Monthly salary of BHD 500
  • Employment in GCC or Bahrain for over 1 Year and confirmed current Employment contract
  • Used cars cannot be older than 5 years from manufacturing
  • 6 months bank statements
  • Car fitness certificate from reputed garage or dealer
  • Credit Reference Bureau consent form

Ithmaar Bank Car Loans For Expats

Ithmaar Bank addresses the customers need to purchase a vehicle, which is a major financial decision. They also provide flexible payment options so that one can easily repay the loan.

  • Sharia Compliant
  • No salary transfer option
  • Maximum time period of 5 years for expats
  • Doorstep service of loan processing and other facilities.
  • Three months grace period option
  • Processing and admin fees of BHD 180
  • Minimum finance amount of 1000 BHD
  • Maximum finance amount of 40,000 BHD for expats
  • Minimum Salary of BHD 400 for expats
  • Age between 21-55 years

Khaleeji Commercial Bank Car loans for expats

The easiest way to own your dream car is being offered by Khaleeji Commercial Bank(KHCB). The auto financing is easy convenient and fast which helps in converting your dreams into reality.

  • Sharia-compliant
  • Financing up to 50,000 BHD
  • Convenient and fast approval
  • Flat rate of 4.3% and Reducing rate of 7.74%
  • Minimum salary of BHD 250
  • Offered for both salaried and self-employed individuals
  • Quotation from car dealer addressed to KHCB
  • Business account statement of 12 months (self- employed)
  • Memorandum and Article of Association (self- employed)

Bahrain Islamic Bank (BiSB) Car loans for Expats

The Bahrain Islamic Bank bank offers you easy financing options for a new or a used car. The finance also includes major features that benefit the customer during the tenor of the loan.

  • Salary transfer is not mandatory
  • Maximum time period of 7 years
  • Interest rate with salary transfer is 3%
  • Interest rate without salary transfer is 4.35%
  • Flat rate of 3.85% and Reducing rate of 6.93%
  • Down payment is optional for new cars with salary transfer
  • Minimum salary of BHD 300
  • Down payment of 10% for used cars
  • Down payment of 10% for new cars without salary transfer
  • Salaried and self-employed individuals
  • Age 21 years at beginning and 60 at maturity of loan
  • Employment contract
  • Board of resolution for Partner Business
  • Signed Credit report Bureau form
  • 2 Valid identity proofs

Al Baraka Islamic Bank Car Loans For Expats

 Al Baraka Bank provides auto loans through its subsidiary Taqseet Auto & other goods finance.

  • Flat rate of 2.88% and Reducing rate of 5.18%
  • Islamic Finance
  • Salary Transfer is mandatory
  • Salaried and self-employed individual both can apply
  • Age 21 years and above
  • Commercial registration for self-employed individuals

Ahli United Bank Car Loans for Expats

When you find the perfect car, Ahli United Bank offers outstanding loans at nominal rates. Ahli United Bank Car Loans is the one stop solution for getting a loan which follows the Islamic finance guidelines.

  • Islamic finance
  • Mandatory salary transfer
  • Maximum time period of 7 years
  • Flat Rate of 3.4% and Reducing rate of 6.12%
  • Up to 30 % of car value to be paid as a down payment
  • Salaried Individuals only
  • Minimum salary of BHD 3000

Bahrain Credit Car loans for expats

Bahrain credit provides auto loans at the best interest rates and gives you the opportunity to take your dream car home.

  • Interest rate starting from 8%
  • Up to 7 years financing period
  • Competitive Interest Rates starting from 8%
  • Reliable after sales services
  • One day Approval
  • Free life insurance

Compare your car loans before you buy them at MyMoneySouq and get the best deals possible.

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