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## EMI Calculator for Dubai

EMI stands for Easy Monthly Installment. As the name suggests EMI is the monthly instalment. This includes two parts one is the principal amount divided into monthly payments as per the tenure and one more is the interest rate.

The principal amount borrowed will be divided into equal amounts as per the tenure. This small part will be paid every month including the interest rates. This cuts down the principal amount monthly so there won’t be any burden for the loan holder by the end as you are clearing the principal amount along with the interest rate monthly.

Calculation of EMI is on the basis of fixed rate, where the interest rate remains the same for the entire tenure.

## How is EMI Calculated?

The basic formula to calculate EMI for your personal loan, home loan, car loan or any kind of loan is EMI = P * r * [(1+r)^n/(1+r)^n -1]

Where, P = Principal amount

r = Rate of Interest

n = loan period

The EMI calculation manually may look a bit complicated and definitely time-consuming. Here's when a EMI calculator comes to your rescue and helps in calculating the EMIs of your loans in seconds.

## How to Calculate Your EMI?

You can use our EMI Calculator to calculate your EMI in a few seconds and plan your finances rightly. Here are the steps to use the EMI Calculator

• Give the principal amount.
• Give the duration term.
• Give the interest rate.
• Our calculator will display the monthly payment you need to pay.

The pie chart on the right will give a detailed breakup of the calculations by including the approximate monthly payment, total interest amount, total loan amount. It gives a clear picture of the total interest amount on the loan and the total payable loan amount.

You can also find the yearly basis repayment schedule of your loan on how your monthly payments influence the overall loan amount. How much of your monthly payment goes towards interest and the principal amount is clearly represented in the table. Initially, the monthly payment contributes more to the interest rate and less to the principal amount. Gradually, this ratio interchanges towards the end of the tenure where you'll be contributing more on the principal amount and less on the interest.

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Interest Rate

Loan Amount

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CLEAR

Flat Rate

3.72%

Minimum Salary

AED 5K

Reducing Rate

7.25%

Max Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

0%

• No processing fees
• Free ADIB Booking.com Signature Card
• Can postpone 2 installments per year

## Features

• Required to submit bank account details for last 3 months
• UAE Nationals of age 21 to 65 years can apply for this scheme
• Expats of age 21 to 60 years can apply for this scheme
• Length of service should be confirmed or should have worked 6 months before applying for this scheme
• Finance repayment period is upto 48 months
• The loan is provided for an interest rate of 7.25%
• Minimum salary of AED 5,000 is required
• The reduction rate and the flat rates are 7.25% and 3.72%. This denotes that the computation done was a division of the reduction rate by 1.814
• It is a requirement to transfer your salary to apply
• Finance up to AED 1,000,000
• The early settlement fee is 1% of the outstanding amount to date
• Takaful cover is 1.25% of the finance amount. Takaful is optional
• No Arrangement fees
• Finance up to AED 1 million amount, For finance up to AED 1,000,000 mortgage is not necessary, ADIB Booking.com Signature Card will be provided free for the first year, You are allowed to postpone two payments per year (without any additional charges), First installment can be paid up to 90 days of approval for loan

View details on bank page

Flat Rate

6%

Minimum Salary

AED 3K

Reducing Rate

11%

Max Loan Amount

AED 2000K

Early Settlement Fee

1.05%

• Finance is based on Sharia principles
• Quick processing
• High loan amount

## Features

• Repayment period is up to 4 years
• The rates applied will depend on the salary
• Only expats can apply for this scheme
• Your debt liabilities are consolidated in one
• The loan interest rates starts from 11% onwards up to 21.99% (reducing rate)
• Minimum salary of AED 3000 is required
• The reduction rate and the flat rate is 11% and 6%.
• It is mandatory to transfer your salary to apply for this scheme
Customers who can transfer their salary to DIB (Dubai Islamic Bank) can request installment postponement through the DIB alt phone banking service.
• Finance up to AED 2,000,000
• Early settlement fee is 1.05% of finance amount
• Arrangement fee is AED 1050
• Finance is provided for sharia-compliant goods, Repayment period is long, High loan amount is provided, Dedicated Manager will assist you throughout the process, Processing is quick

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Flat Rate

3%

Minimum Salary

AED 8K

Reducing Rate

6.75%

Max Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

• Free rewards credit card
• Overdraft facility on current account
• Phone banking facility

## Features

• The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
• The loan is provided for a interest rate of 6.75%
• Minimum salary of AED 8000 is required

## Features

• Repayment period is up to 4 years
• The loan is provided for a interest rate of 6.75%
• Minimum salary of AED 8000 is required
• The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
• It is mandatory to transfer your salary to apply for this scheme
• Finance up to AED 1,000,000
• Early settlement fee is 1% of finance amount
• Arrangement fee is 1% of loan amount
• High Finance amount is provided by the bank, Along with this loan free credit card is offered , Provides insurance coverage for permanent disability and death

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Flat Rate

3.03%

Minimum Salary

AED 8K

Reducing Rate

5.5%

Max Loan Amount

AED 750K

Early Settlement Fee

1%

Arrangement Fee

1%

• Free debit card
• Current account with no minimum balance
• Can avail top-up facility

## Features

• The reduction rate and the flat rate is 5.5% and 3.03%. This denotes that the computation done was a division of the reduction rate by 1.814
• The loan is provided for a interest rate of 5.5%
• Minimum salary of AED 8,000 is required

## Features

• Repayment period is up to 4 years
• The loan is provided for a interest rate of 5.5%
• Minimum salary of AED 8,000 is required
• The reduction rate and the flat rate is 5.5% and 3.03%. This denotes that the computation done was a division of the reduction rate by 1.814
• It is mandatory to transfer your salary to apply for this scheme
• Finance up to AED 750,000
• Early settlement fee is 1% of finance amount
• Takaful fee is 0.82% of the finance amount
• Arrangement fee is 1% of loan amount
• High Finance amount is provided by the bank, Availability of buy-out facility, Determent facility available - maximum 2 times a year without additional profit, Free Debit Card is provided along with this scheme, Free Current Account is provided along with this scheme with no minimum balance requirement

View details on bank page

Minimum Salary

AED 7.5K

Reducing Rate

7.24%

Max Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

• Credit life insurance is not mandatory
• Quick processing & approval
• Flexible tenure
• The loan is provided for an interest rate from 7.24%
• Minimum salary of AED 7,500 is required
• The reduction rate starts from 7.24%
• It is mandatory to transfer your salary
• Maximum finance provided is up to AED 750,000 for expats and AED 1,000,000 for UAE national
• Early settlement fee is 1% of finance amount
• Arrangement fee is 1% of loan amount
• Applicants can get up to AED 1,000,000 loan amount, Documentation is simple and easy, There is low salary requirement and long repayment period along with this scheme Finance buy-out facility is also provided with this loan , Determent facility available - maximum 2 times a year without additional profit

View details on bank page

Flat Rate

3.03%

Minimum Salary

AED 5K

Reducing Rate

5.69%

Max Loan Amount

AED 3000K

Early Settlement Fee

1.05%

Arrangement Fee

1.05%

• Free 0 balance account
• Low interest rates
• High finance amount

## Features

• The reduction rate and the flat rate is 5.69% and 3.03%.
• The loan is provided for competitive interest rates & starting from 5.69%
• Minimum salary of AED 5000 is required

## Features

• Repayment period is up to 4 years
• The loan is provided for competitive interest rates & starting from 5.69%
• Minimum salary of AED 5000 is required
• The reduction rate and the flat rate is 5.69% and 3.03%.
• It is mandatory to transfer your salary to apply for this scheme
• Finance up to AED 3,000,000
• Early settlement fee is 1.05% of finance amount
• Arrangement fee is 1.05% of loan amount
• Expats can get up to AED 3,000,000 loan amount, Get a zero-balance account , Get a Free Miles or points credit card , Around 560 ATMs of the Emirates NBD are there around the UAE, New Employees can also apply for this scheme, Initial payment postponement extends for a maximum of 60 days., You can miss up to two non-consecutive installments per year , Free Debit Card and bank account is provided along with this scheme, The repayment period is long

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Flat Rate

3.99%

Minimum Salary

AED 10K

Reducing Rate

7.34%

Max Loan Amount

AED 2000K

Early Settlement Fee

1.05%

Arrangement Fee

1%

• Free Credit Card
• Low processing fees
• Only 1 month salary transfer is required

## Features

• The flat rate and the reduction rate is 3.99% and 7.34%.
• The loan is provided for a interest rate of 7.34%
• Minimum salary of AED 10,000 is required

## Features

• Repayment period is up to 4 years
• The loan is provided for a interest rate of 7.34%
• Minimum salary of AED 10,000 is required
• The flat rate and the reduction rate is 3.99% and 7.34%.
• It is mandatory to transfer your salary to apply for this scheme
• Finance up to AED 2,000,000
• Early settlement fee is 1.05% of finance amount
• Arrangement fee is 1% of loan amount
• Free Credit Card is provided along with this scheme, For the first year free of annual fee, Repayment period is long, Low minimum salary requirement is there for this scheme

View details on bank page

Flat Rate

3.57%

Minimum Salary

AED 7K

Reducing Rate

6.49%

Max Loan Amount

AED 1000K

Early Settlement Fee

1.05%

Arrangement Fee

1.05%

• Flexible tenure
• Quick processing
• High finance

## Features

• Length of service should be minimum 6 months
• Need to provide salary transfer letter in Mashreq format
• Only Expats can apply for this scheme

## Features

• Length of service should be minimum 6 months
• Need to provide salary transfer letter in Mashreq format
• Only Expats can apply for this scheme
• The loan is provided for a interest rate of 6.49%
• Minimum salary of AED 7,000 is required for an approved company. For non-listed companies, AED 10,000 is required.
• The reduction rate and the flat rate is 6.49% and 3.57%. This denotes that the computation done was a division of the reduction rate by 1.814
• It is mandatory to transfer your salary to apply for this scheme
• Finance up to AED 1,000,000
• Early settlement fee is 1.05% of finance amount
• Arrangement fee is 1.05% of loan amount
• Applicants can get up to AED 1,000,000 loan amount, Documentation is simple and easy, There is low salary requirement and long repayment period along with this scheme, Credit Card, Cheque book and debit card is provided free along with this scheme, Applicants can get finance for non-listed companies in UAE too

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Flat Rate

2.19%

Minimum Salary

AED 7K

Reducing Rate

6.95%

Max Loan Amount

AED 2000K

Early Settlement Fee

1.05%

Arrangement Fee

1.05%

• Personal life insurance coverage is provided
• Quick approval
• Get a fixed Interest rate at 5.34 % per year for Multi Product Package (with a salary transfer to your FAB account and holding a credit card from FAB)
Get a Variable interest rate of 6.95% per year for a salary transfer to your FAB account without holding a FAB credit card
A reducing rate of 6.95% and a flat rate of 3.55% is charged. The flat rate is calculated by dividing the reducing rate by 1.814 (Indicative only)
• A minimum salary of AED 7000 is required
• Salary transfer is required with or without holding FAB credit card
• Maximum loan amount of AED 2 Million is provided
• Comprehensive personal life insurance coverage, You can achieve financial goals with FAB personal loan by enjoying the best interest rates which start at 5.34 percent per year, Get the privilege of flexible repayment with 120 days first installment grace period. , Enjoy quick and easy approvals with hassle free documents., Get up to AED 7,500 FAB rewards when you transfer salary to FAB account holding FAB credit card

View details on bank page

Flat Rate

3.72%

Minimum Salary

AED 5K

Reducing Rate

7.25%

Max Loan Amount

AED 3000K

Early Settlement Fee

1%

Arrangement Fee

0%

• No processing fees
• Free ADIB Booking.com Signature Card
• Can postpone 2 installments per year

## Features

• Required to submit bank account details for last 3 months
• Minimum age of 21 years is required
• Length of service should be confirmed or should have worked 6 months before applying for this scheme
• Finance repayment period is upto 48 months
• The loan is provided for an interest rate of 7.25%
• Minimum salary of AED 5,000 is required
• The reduction rate and the flat rates are 7.25% and 3.72%. This denotes that the computation done was a division of the reduction rate by 1.814
• It is a requirement to transfer your salary to apply
• Finance upto AED 3,000,000
• The early settlement fee is 1% of the outstanding amount to date
• Takaful cover is 1.25% of the finance amount
• No Arrangement fees
• First installment payment grace period up to 3 months, Optional Takaful protection scheme that covers the entire amount against death and permanent disability, High finance amount , ADIB Booking.com Signature Card will be provided free for the first year, You are allowed to postpone two payments per year (without any additional charges)

View details on bank page