More Details on Personal Loan

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 Features

1. The maximum loan amount is up to 20 times your salary, up to a maximum of AED 500,000, subject to terms and conditions.
2. You can get up to 20 times your monthly salary. Finance repayment period is up to 48 months.
3. You require a minimum salary of AED 5,000 per month to be eligible.
4. It is a requirement to transfer your salary to apply.
5. The processing fee is 1% of the finance amount (min AED 500 and Max AED 2,500)
6. The early settlement fee is 1% of the outstanding amount.
7. The credit life insurance is 0.9% per annum.
8. The rate is calculated on a reducing balance. It varies depending on salary and whether company is listed with the bank. For salaries up to AED 10,000 the rate ranges between 11% to 16%. For salaries between AED 10,000 to 20,000 the rate ranges between 6.5% to 12%. For salaries above AED 40,000 it starts at 5.25%.
9. The reducing rate of this finance is 5.25% and the equivalent flat rate is 2.89%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
10. This rate is calculated on a reducing balance

Required Documents

1. An original salary certificate
2. Original bank statement for the last 6 months of the account into which your salary is paid
3. Passport copy with the visa page
4. Emirates ID card copy/copy of your application for National ID card
5. Salary Transfer Letter from your employer (in our required format)

Eligibility

1. UAE resident expatriates
2. Earning at least AED 5,000 per month
3. At least 20 years, 5 months & 7 days old (at application)
4. At most 59 years 11 months old (at loan maturity)

Additional Information

1. Terms & Conditions apply Offers: Summer travel vouchers (for limited time only)
2. Fees & Charges: As per CBUAE Guidelines