CBD Cheque Discounting Finance

cbd Bank

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Cheque Discounting Finance

Flat Rate

6.06%

Reducing Rate

11%

Min Finance Amount

AED 100K

Max Finance Amount

AED 3000K

Early Settlement Fee

1.5%

Min Annual Turnover

AED 2000K

Tenure

4 Months

Approval Time

5 Days

Processing Fee

2%

6.06%

Flat Rate

11%

Reducing Rate

AED 100K

Min Finance Amount

AED 3000K

Max Finance Amount

1.5%

Early Settlement Fee

AED 2000K

Min Annual Turnover

4 Months

Tenure

5 Days

Approval Time

2%

Processing Fee

Features

  • The reduction rate and the flat rate is 11% and 6.06%. This denotes that the computation done was a division of the reduction rate by 1.815
  • 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 120 days
  • Provides minimum finance amount of up to AED 100,000
  • 2 years minimum length of business is required to qualify for this finance
  • 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

Required Documents

  • 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

Benefits

  • 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

Q. How many days does the bank take to approve the loan?

A. Bank takes up to 5 working days to approve the loan.

Q. What is the maximum term for the CBD?

A. The maximum term for the finance is 120 days.

Q. Do we have to pay processing fee while applying for business loan in CBD?

A. Yes, you need to pay 2% of the finance amount as processing fee.

Q. How does CBD bank decide our monthly installments?

A. Monthly installments are decided on the basis of your finance amount and monthly salary date.

Q. Do we have to pay processing fee while applying for business loan in CBD?

A. Yes, you need to pay 2% of the finance amount as processing fee.

CBD Bank

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:

  • Authenticity
  • Simplicity
  • Partnership
  • Innovation
  • Responsibility
  • Excellence