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Subah A Latif Al Zayani and Ahmed Al Maskati

NBB new auto finance offers special rates for hybrid/EVs

MANAMA, October 3, 2021

The National Bank of Bahrain (NBB) has launched a new ‘Auto Finance’ product for new and existing customers across the kingdom. 
 
The product will offer financing options on all automobiles with a special interest rate available for buyers seeking to purchase hybrid/electric vehicles.
 
In line with its commitment to providing the best in a range of facilitated products and services, NBB is offering its financing scheme with competitive interest rates and a seamless approval process to enable customers to buy their dream car, a statement said. 
 
Auto Finance also offers very competitive interest rates with life insurance coverage, financing covering up to 100% of the car value, and fast approvals along with financing up to the age of 70 years at maturity. Moreover, the product offers exclusive lower interest rates with zero processing fees for customers who are looking to purchase hybrid/electric cars, it said.
 
Subah A Latif Al Zayani, Chief Executive of Retail Banking at NBB, said: “We are pleased to be offering our customers the chance to receive exclusive auto financing offers from NBB, as we look forward to establishing strong relationships with strategic local car dealerships and provide unique propositions to our customers. We also aspire to drive the demand for hybrid/electrical cars, complimenting the Bahrain Economic Vision 2030 strategy for clean energy and non-carbon emissions. We continue to enhance our various financing options to better serve our new and existing customers with our best-in-class services. As part of our initiative to increase environmental consciousness, we are hoping to encourage our fellow customers to buy hybrid/electrical cars and help promote sustainability practices within the Kingdom.”
 
Ahmed Al Maskati, Head of Retail Products at NBB, said: “Our Auto Finance product is structured in a way that helps our customers opt for their dream cars, giving applicants a choice between applying against a salary transfer or without a salary transfer. This is part of the Bank’s overall strategy to maintain customer-centricity at the heart of our product development cycle, complementing our existing product suite. With our special offers, we aim to encourage our respective customers to shift towards a more sustainable way of life as part of our efforts towards integrating sustainability into the core of our product offerings.”
 
In line with its ongoing environmental initiatives, NBB continues to provide an array of products and services that incentivise the community to contribute to a greener change in their everyday lives, including the bank’s latest initiative to provide special financing schemes on solar energy panel installation, the statement added. – TradeArabia News Service



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