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NBAD Personal Loan Calculator
Top Personal Loans
Personal Loan Provided By NBAD Bank
|NBAD Personal Loan Details|
|Minimum Salary||AED 10000 per month|
|Interest Rates||Flat rate: 2.61% | Reducing rate: 4.74%|
|Maximum Loan Amount||AED 2000K - AED 5000K(depends on the nationality and type of loan)|
|Early Settlement Fees||1% of the outstanding amount|
|Arrangement Fees||1% of the approved loan amount|
|Age||21 - 60 years(Expats) & 65 years(UAE Nationals)|
Features of NBAD Personal Loan
Some salient features of personal finance offered by NBAD are:
- Salary transfer to the bank is mandatory
- Maximum repayment tenure of 4 years
- Pre-approved credit card – free for life is offered with most of these loans
- Competitive interest rates from 4.74% p.a.
- Elite Gold customer can avail of a 25% discount on arrangement fees
Type of Loan
- Personal loans for UAE Nationals : Maximum Loan Amount 5 million AED
- Personal Loans for Expatriates : Maximum Loan Amount 2 million AED
- Personal Loans for Landlords (UAE Nationals) – Personal loans against rental income received by landlords every month : Maximum Loan Amount 2 million AED
- UAE Start-up loans – Personal loans for people who are new to UAE or new to their job : Maximum Loan Amount 5 million AED
- UAE Start-up loans – Personal loans for people who are new to UAE or new to their job
- Secured Loans – Loans against your fixed deposit : Maximum Loan Amount 5 million AED
Fees and Charges
- Loan processing fee : 1% of the loan amount (Minimum 500 AED and Maximum 2500 AED)
- Late Payment Fee : 2% of the delayed amount (Minimum 50 AED and Maximum 200 AED)
- Loan cancellation fee (if cancelled before disbursal) : AED 100
- Loan rescheduling fee : AED 250
- Early Settlement of loan : 1% of the outstanding loan amount (Maximum 10000 AED)
Eligibility Criteria of NBAD Personal Loan
- Minimum salary of AED 10,000 is required
- Both UAE Nationals and Expats are eligible
- Self-employed and salaried individuals are eligible
Check here for the Eligibility Criteria of NBAD Personal Loan
Documents Required of NBAD Personal Loan
- Bank statements
- Salary transfer letter or salary certificate
- Copy of valid Passport / Visa / Emirates ID (Originals must also be presented)
NBAD Bank Personal Loan Interest rates
Frequently Asked Questions
Q. Are there any fees for cancellation of the loan after getting approved?
A. Yes.That option is available with a fees of AED 100.
Q. What’s the loan amount that is provided for expats?
A. The loan amount provided for expats is AED 2000K.
Q. Is late payment of loan allowed?
A. Yes. Its allowed with a payment fees of AED 200.
Q. What are the charges on life insurance for expats?
A. Life insurance availed using this personal loan is charged at 1% upfront on all approved loans
Q. How much time does it take to get the amount credited once the loan is approved?
A. It usually takes 3-7 days to get the amount credited once the loan is approved.
Q. What are the different personal loans provided by NBAD?
A. You can get a variety of personal loans with NBAD like Etihad Guest personal loan, National Landlord loans, Overdrafts, Personal loan for UAE nationals and expats, UAE Startup loans, Secured loans, Buyout loans and Debt consolidation loans.
Q. Is there any rescheduling loan facility? If so what are the charges applied on it?
A. Yes. Rescheduling facility is available with a fees of AED 250.
Q. What’s the processing fees for NBAD Start Up loan?
A. Processing fees of Start up loan is 1% of the loan amount.
Q. What’s the fees charged on late payment of loan for Secured loan of NBAD?
A. The fees charged is 2% of the overdue amount.
About NBAD Bank
National Bank of Abu Dhabi (NBAD), with its vision to be the World’s Best Arab Bank endeavors to provide the best products and service across the East-West corridor. Featuring in the World’s Top 50 safest banks, NBAD is a bank you can turn to for your financial needs without worry. The values as mentioned on www.nbad.com are :
- Put our customers at the forefront and “do the right things the right way”
- Value our people and foster great teamwork
- Empower our people and hold each other accountable for performance and behaviour
- Respect our heritage and be loyal to our stakeholders
NBAD offers a wide range of personal finance options