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 products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page 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.

0 People rated this page

Emirates Money Business Loan

Emirates Money Bank

Business Loan

Flat Rate

9.92%

Reducing Rate

18%

Min Finance Amount

AED 50K

Max Finance Amount

AED 1500K

Early Settlement Fee

5%

Min Annual Turnover

AED 1200K

Tenure

48 Months

Approval Time

3 Days

Processing Fee

2%

flat rate

9.92%

Flat Rate

reducing rate

18%

Reducing Rate

AED 50K

Min Finance Amount

maximum finance

AED 1500K

Max Finance Amount

early settlement fee

5%

Early Settlement Fee

minimum turnover

AED 1200K

Min Annual Turnover

tenure

48 Months

Tenure

approval time

3 Days

Approval Time

processing fee

2%

Processing Fee

View details on bank page

Features

  • The reduction rate and the flat rate is 18% and 9.92%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Provides maximum finance amount of up to AED 1,500,000
  • Early settlement fee is 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 50,000
  • 1 years minimum length of business is required to qualify for this finance
  • Minimum annual sales turnover of AED 1,200,000 is needed to apply for this finance
  • You need not have a bank account with Emirates Money bank to apply for this finance
  • After successful submission of documents, within next 3 working days the bank will approve the loan

Required Documents

  • Audited financials of last 2 years have to be submitted to the bank
  • Need to provide bank statements of last 6 months
  • Trade license copy
  • Power of Attorney
  • Copy of passport with valid visa

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • A dedicated relationship manager guides you throughout the process

Frequently Asked Questions

⭐ Why is it suggested to refinance your existing loan?

A. It is suggested to refinance your existing loan because interest rates will be charged low in such case.

⭐ Who all can avail business loan service from Emirates Money?

A. Businesses who need to grow and create jobs can avail business loan in Emirates Money.

⭐ 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 have a business plan to apply for business loan in Emirates Money?

A. Yes, before applying for business loan, you need to have a business plan only then your application can get accepted.

⭐ Do we have to pay processing fee while applying for business loan in Emirates Money?

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

Emirates Money

Emirates Money is a subsidiary of Emirates NBD. It serves all set of customers like self employed, salaried, corporate financing and much more. Emirates Money provides different options to help the individuals better. It 2016 Emirates Money is transferred entirely to Emirates NBD which is one of the largest banks that has established its services globally. It works with a mission to make their customer’s live simpler by fulfilling their financial goals.