Emirates Money Property Power

emirates-money Bank

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Property Power

Flat Rate

3.86%

Reducing Rate

7%

Min Finance Amount

AED 500K

Max Finance Amount

AED 7000K

Early Settlement Fee

2%

Min Annual Turnover

AED 240K

Tenure

180 Months

Approval Time

3 Days

Processing Fee

1%

3.86%

Flat Rate

7%

Reducing Rate

AED 500K

Min Finance Amount

AED 7000K

Max Finance Amount

2%

Early Settlement Fee

AED 240K

Min Annual Turnover

180 Months

Tenure

3 Days

Approval Time

1%

Processing Fee

Features

  • The reduction rate and the flat rate is 7% and 3.86%. This denotes that the computation done was a division of the reduction rate by 1.813
  • Provides maximum finance amount of up to AED 7,000,000
  • Early settlement fee is 2% of the finance amount
  • Processing fee is 1% of the loan amount
  • Repayment period is up to 180 months
  • Provides minimum finance amount of up to AED 500,000
  • Minimum annual sales turnover of AED 240,000 is needed to apply for this finance
  • You need not have a bank account with Emirates Money 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 3 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

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

A. Bank takes up to 3 working days to approve the loan.

Q. What is the maximum term for the Emirates Money Bank?

A. The maximum term for the finance is 180 months.

Q. What all characteristics does Emirates Money Bank look for in business loan candidate?

A. Emirates Money bank is looking for following characteristics in a business loan applicant like an ability to repay loan, financial stability and has good credit history.

Q. I already have a business but I want to expand it. Will I be provided loan for expansion of business?

A. Yes, bank will carefully evaluate your company's profitable business plan record and the expansion plan presented before approving your loan.

Q. How much finance can I get from Emirates Money bank if I apply for business loan?

A. Finance amount is determined on the basis of your credit history, collateral being offered and monthly income.

Emirates Money Bank

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.