Check Eligibility for Emirates Islamic
Personal Loan

You are eligible to apply for a Emirates Islamic
Personal Loan .

You may not be eligible * to apply.

* Minimum salary AED 5000 required to apply for a Emirates Islamic Personal Loan .

Click here to check loans from other banks.

Emirates Islamic Personal Loan Calculator

Personal Loan Provided By Emirates Islamic Bank

Emirates Islamic Personal Loan Details
Minimum Salary AED 5000 per month
Profit Rates Flat rate: 3.19% - 3.59% | Reducing rate: 5.74% - 6.47%
Maximum Loan Amount AED 2000K - AED 4000K(depends on the nationality and type of loan)
Early Settlement Fees 1% of the outstanding amount
Arrangement Fees 1% of the approved loan amount
Tenure 48 months
Age 21 - 60 years(Expats) & 65 years(UAE Nationals)

Features of Emirates Islamic Personal Loan

  • Financing available to salaried and self-employed customers
  • Very competitive profit rates
  • Financing up to 3 million for UAE Nationals and 1 million for Expatriates.
  • Approvals in 24 hours
  • Preapproved credit card and 100% discount on first year's annual fees
  • Nominal processing fees
  • Exclusive policy terms on buyout loans/finances
  • Certificate of Takaful / Insurance Cover

Emirates Islamic provides personal finance to salaried and self-employed individuals in accordance with Murabaha arrangement by trading the Shariah-compliant instruments like Wakala or Shares Certificates. The options available are:

  • Personal Finance
  • Goods and Services Finance

Let’s look at the salient features of each of them.

Personal Finance

  • Maximum loan amount of up to AED 3 million for UAE nationals and AED 1 million for expatriates
  • Competitive profit rates
  • Quick Processing of application
  • Minimum monthly salary requirement of AED 5000
  • Minimum one month/first salary credit into Emirates Islamic account
  • Exclusive policy terms on buyout loans/finances
  • Pre-approved credit card with first year’s annual fees waived off

Goods and Services Finance

Emirates Islamic bank also provides personal finance to help you buy a range of goods and services.

Goods
  • Furniture
  • Electronics
  • Computers
  • Motorcycles
  • Home Renovation
Services
  • Wedding services
  • Travel Services
  • Medical treatment
  • House rent
  • Education

Eligibility Criteria of Emirates Islamic Personal Loan

  • Minimum monthly salary of AED 5,000
  • Length of service - Minimum one month/first salary credit into Emirates Islamic account
  • Minimum age of 21 years
  • Maximum age of 65 for UAE Nationals and 60 for Expatriates at the time of maturity

Check here for the Eligibility Criteria of Emirates Islamic Bank Personal Loan

Documents Required of Emirates Islamic Personal Loan

  • Completed application form
  • Copy of valid passport with valid UAE residence visa for expatriates (original required for verification)
  • Last three months bank statements
  • Salary transfer letter/salary certificate (for salaried customers only)
  • Account opening forms for shares trading
  • Liability letter (for buyout cases only)
  • Trade license (for self-employed customers)

Emirates Islamic Bank Personal Loan Profit Rates

emirates-islamic Bank

2 Personal Loan Provided By Emirates Islamic Bank

Personal Finance for Expats

Minimum Salary

AED 5K

Flat Rate

3.59%

Reducing Rate

6.47%

Loan Amount

AED 2000K

Early Settlement Fee

1%

Arrangement Fee

2.5%

AED 5K

Minimum Salary

3.59%

Flat Rate

6.47%

Reducing Rate

AED 2000K

Loan Amount

1%

Early Settlement Fee

2.5%

Arrangement Fee

Personal Finance for UAE Nationals

Minimum Salary

AED 5K

Flat Rate

3.19%

Reducing Rate

5.74%

Loan Amount

AED 4000K

Early Settlement Fee

1%

Arrangement Fee

2.5%

AED 5K

Minimum Salary

3.19%

Flat Rate

5.74%

Reducing Rate

AED 4000K

Loan Amount

1%

Early Settlement Fee

2.5%

Arrangement Fee

Frequently Asked Questions

Q. What benefits can I attain from this personal loan?

A. Free credit card with 100% discount on fees for an year, loan approval within 24 hours, insurance coverage, less processing fees.

Q. Is transfer of salary to Emirates Islamic bank necessary to avail personal loan?

A. Yes. Minimum salary transfer of one month is needed to avail personal loan.

Q. are there any fees for loan cancellation?

A. Yes. AED 100.

Q. What’s the fees for late payments of the loan?

A. AED 50 per instance of late payments.

Q. Can I skip the monthly loan payment?

A. Yes you can skip the monthly loan payment but it’s chargeable of AED 100 per every instance of skipping the installment.

Q. Is liability letter mandatory for personal loan?

A. Yes, it is. But if in any case, you don’t acquire a liability letter for buyout cases you should pay a fee of AED 100.

Q. What’s the fees for personal overdraft?

A. It’s AED 100.

Q. How can I repay the loan amount?

A. Loan amount can be repaid in the form of EMIs ( Equated monthly installment).

Q. Can I pay the loan in partial payments?

A. Yes. And the fees is 1% of the payment.

Q. What are the other personal loans available inUAE?

A. There are several banks providing personal loans. You can check variouspersonal loan in UAE here.

About Emirates Islamic Bank

In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.

The Emirates Islamic Bank works with the mission of "Providing innovative & high standard financial products & services governed by Islamic Shari'a provision to enrich the society."

Check Eligibility for Emirates Islamic
Personal Loan

You are eligible to apply for a Emirates Islamic
Personal Loan .

You may not be eligible * to apply.

* Minimum salary AED 5000 required to apply for a Emirates Islamic Personal Loan .

Click here to check loans from other banks.

Emirates Islamic Personal Loan Calculator