Citi Personal Loan Eligibility - Minimum Salary, Age, Salary Transfer
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Details on Personal Loan Eligibility at Citi
Features
- Loan repayment period is up to 48 months
- The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
Features
- Loan repayment period is up to 48 months
- The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
- It is not a requirement to transfer your salary to apply
- Maximum loan amount of AED 175,000
- 1% of outstanding principal is charged as Early Settlement fee
- Insurance is optional
- 1% of loan amount [Min AED500; Max AED2500] is charged as arrangement fee
Benefits
- No salary transfer required
- High Loan amounts up to AED 175,000
- Top up loan after 9 months
- Fast approvals
- Apply online from the comfort of your own home
- In principle approval in 10 minutes and get a decision in 24 hours
Explore
Hide ExploreFeatures
- Flexible repayment periods between 6 to 48 months
- The interest rate is calculated on a reducing basis and varies between 6.99% and 8.99% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
Features
- Flexible repayment periods between 6 to 48 months
- The interest rate is calculated on a reducing basis and varies between 6.99% and 8.99% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
- Reduccing rates as low as 6.99%
- It is a requirement to transfer your salary to apply
- Maximum loan amount AED 500,000
- 1% of outstanding principal is charged as early settlement fee
- Insurance is optional
- 1% of loan amount [Min AED500; Max AED2500] is charged as Arrangement fees
Benefits
- High Loan amounts up to AED 500,000
- Competitive rates as low as 6.99% (reducing)
- Free bank account with no minumum balance required
- Top up loan whenever you want
- Fast approvals
- Apply online from the comfort of your own home
- Get a decision in 24 hours
Citi
Citi provides a personal loan with quick and hassle-free documentation and no requirement of salary transfer to the Citi account.
Eligibility criteria for Citi
- Minimum salary of AED 8000 is required.
- Both UAE Nationals and Expats are eligible.
- Age limit of 21-65 years is mandatory.
What influences Eligibility?
- Credit history- Your previous or existing loans and credit cards can affect your current loan approval. Low credit score applications can be rejected.
- Monthly income- If your monthly income is less than AED 8000 then the bank doesn’t approve your loan.
- Debt to Burden Ratio- DBR should be maintained low i.e below 65% is preferred by the banks to approve the loan.
- Age- Age limit of 21-65 yrs is mandatory. Minors below 21 yrs and senior citizens above 65 years (Expats above 60 years) are not eligible.
- Documents- Documents like Salary certificate, Passport, Emirates ID, Trade license (If Self employed) are mandatory.
1. Salary Certificate- Salary Certificate is a mandatory document for any kind of finance as it is a proof of your work and an employment in a company. Bank can ask for a salary certificate or salary certificate letter.
2. Emirates ID- Emirates ID is a proof to confirm your identity. Without Emirates ID banks do not approve the loan.
3. Trade License- For the self-employed individuals trade license is a mandatory document.
Tips to improve the chances of loan approval
- Make sure you meet the age limit.
- Pay your current loans or credit card bills on time so that it won’t disturb your credit score.
- Maintain all the required mandatory documents.
- Don’t take more than required finance.
- It is preferable to go for maximum tenures.
FAQs
⭐ What is the minimum length of service required?
A. Minimum 6 months of duration at work is required.
⭐ What are the minimum and maximum tenure of the loan?
A. A minimum tenure of 6 months and a maximum tenure of 4 years is provided.
⭐ What is the maximum finance provided?
A. On Salary Transfer Loan maximum finance of 8 times your salary is provided and on Non-Salary Transfer Loan maximum finance of AED 1,75,000 is provided.
⭐ Is salary transfer mandatory?
A. Yes, the salary transfer is required. If you cannot transfer your salary then you can go forPersonal Installment loan.
Check the list of Citi Personal loans.