More Details on Personal Loan

1. Long repayment period.
2. Approval within 48 hours of application.
3. There is a low salary requirement.
4. The rates applicable will be depended on salary.

Main Benefits

1. Low interest rates
2. Simple and easy documentation
3. Quick application approval within 48-hours
4. Optional insurance cover

Overview of features

1. Loan repayment period is up to 48 months. Loan amount increase subject to approval from the bank
2. You require a minimum salary of AED 5,000 per month to be eligible.
3. It is not a requirement to transfer your salary to apply.
4. The processing fee is 1% of the loan amount [Min AED 500; Max: AED 2,500]
5. The early settlement fee is 1% of outstanding principal.
6. Loan repayment period is up to 48 months. The interest rate varies from 14% to 39.99% based on the salary. For a salary above AED 22,000 you can get a rate between 14% and 39.99%; for a salary between AED 5,000 to AED 22,000 you can get a rate between 16% and 39.99% and for a salary between AED 5,000 to AED 7,000 you can get a rate between 36% and 39.99%.
7. The reducing rate of this finance ranges from 14% to 39.99% and the equivalent flat rate from 7.72% to 22%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
8. The rate is calculated on a reducing balance

* This product is subject to eligibility conditions and may not be available for all applicants. Eligibility conditions are set by the service provider and may be subject to change.