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CBD Business Installment Loan
Credit Bureau Consent, Welcome Offer & General Terms & Conditions
I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The information provided on this website does not constitute the marketing of any products or services to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Marino, San Marino, Vatican and Isle of man. The content on this website is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals. Find your nearest Citi branch: www.findmyciti.com/ae/. Call us at: +971 4 311 4000.
Address: Citibank UAE, P.O. Box 749, Dubai, United Arab Emirates.
Business Installment Loan
- The reduction rate and the flat rate is 13% and 7.17%. This denotes that the computation done was a division of the reduction rate by 1.813
- Provides maximum finance amount of up to AED 3,000,000
- Early settlement fee is 1.5% of the finance amount
- Processing fee is 2% of the loan amount
- Repayment period is up to 48 months
- Provides minimum finance amount of up to AED 100,000
- 2 years minimum length of business is required
- The maximum annual turnover limit to be eligible for this finance is AED 40,000,000
- Minimum annual sales turnover of AED 2,000,000 is needed to apply for this finance
- You need to have a bank account with CBD to apply for this finance
- After successful submission of documents, within next 5 working days the bank will approve the loan
- Trade License should be valid
- All the partners and local partners are required to submit passport copies while applying for the finance
- All the partners and local partners are required to submit Emirates ID while applying for the finance
- Audited financials of last 2 years have to be submitted to the bank
- Application form
- Copy of share certificates
- Finance amount is high
- Long and flexible repayment period is provided by bank
- A dedicated relationship manager guides you throughout the process
- Documentation process is simple and easy
- Provides business credit cards for loan amount up to AED 3,000,000
Frequently Asked Questions
⭐ Do we have to provide passport copies of partners?
A. Yes, you need to provide valid passport copies of partners also.
⭐ How does the bank checks my eligibility to apply for business loan?
A. Your eligibility is decided on the basis of following factors:
1. Credit score
2. Monthly Income
3. Outstanding debts
⭐ What if my loan application got rejected first time. Can I apply again? If yes, then when?
A. Yes, you can again apply if your loan application got rejected first time. As long as your circumstances have changed from last time when you applied for business loan. 3 months from then you can again apply for business loan application.
⭐ Do I need to provide collateral to apply for business loan in CBD?
A. Yes, to apply for business loan in CBD, you need to provide collateral for security purpose.
⭐ What all characteristics does CBD look for in business loan candidate?
A. CBD is looking for following characteristics in a business loan applicant like an ability to repay loan, financial stability and has good credit history.
Commercial Bank of Dubai (CBD) offers a wide range of retail and commercial banking products and services, in both conventional and Shariah-compliant formats, with a network of 26 branches and over 210 ATMs throughout the UAE. The bank endeavors to build sustainable prosperity through extraordinary banking experiences. CBD commits to:
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