Personal Loan Provided By Noor Bank

Noor Personal Loan Details
Minimum Salary AED 5000 per month
Profit Rates Flat rate: 2.49% | Reducing rate: 4.93%
Maximum Loan Amount AED 1000K - AED 2000K(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 Noor Personal Loan

Noor Bank offers Shariah-compliant Personal loans to help you meet your financial needs. The features are :

  • Maximum loan amount of AED 1 million for expats and AED 2 million for Emiratis
  • Maximum loan tenure of 4 years
  • Profit rates from 2.79% p.a.
  • Minimum monthly salary requirement of AED 5,000
  • Salary transfer is mandatory
  • Pre-approved credit card with no annual fees for the first year is offered to borrowers
  • Takaful insurance cover (optional family/job loss)
  • Unlimited outward remittances with preferential exchange rates and a waiver of the remittance fee
  • Quick approvals and simple documentation

Fees and Charges

  • Loan processing fee : 1% of the loan amount and 0.50% for Priority customers (Minimum 500 AED and Maximum 2500 AED)
  • Late Payment Fee (effective March 6,2017) : 2% of the delayed amount (Minimum 50 AED and Maximum 200 AED)
  • Life Takaful cover : Up to 1.29% of the finance amount
  • Loan rescheduling fee : AED 250
  • Early Settlement of loan : 1% of the outstanding loan amount (Maximum 10000 AED)
  • Optional Life Takaful cover with double indemnity : Up to 1.99% of finance amount
  • Optional Life Takaful cover with double indemnity and involuntary loss of employment : Up to 2.99% of finance amount

Noor Bank Personal Loan Profit Rates

2 Personal Loan Provided By Noor Bank

Personal Finance - For UAE Nationals

Minimum Salary

AED 5K

Flat Rate

2.49%

Reducing Rate

4.93%

Loan Amount

AED 2000K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 5K

Minimum Salary

2.49%

Flat Rate

4.93%

Reducing Rate

AED 2000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Personal Finance - For Expats

Minimum Salary

AED 5K

Flat Rate

2.49%

Reducing Rate

4.93%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 5K

Minimum Salary

2.49%

Flat Rate

4.93%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Eligibility Criteria of Noor Personal Loan

  • Age 21 years and above
  • Minimum monthly salary of AED 5,000 (salary transfer required)
  • Employer should be approved with Noor Bank
  • Preferential FX rates and fees apply to remittance values of AED 100,000 or more per transaction

Documents Required of Noor Personal Loan

  • Salary transfer letter
  • 3 months bank statement
  • Valid copy of Passport, Residency visa and Emirates ID

About Noor Bank

Established in January 2008, Noor Bank (formerly known as Noor Islamic Bank), is a young bank providing a wide range of products and service. With a Mission of ‘wanting to be ranked among the top 100 most-innovative companies in the world’ and a Vision ‘to be recognised as the financial icon of Dubai’, the bank follows these values :

  • Customer Centricity
  • Innovation
  • Determination
  • Integrity
  • Responsibility

They believe that Islamic banking has the flexibility and the openness to enable them to offer a wide range of products and services when approached correctly.