Personal Loan Provided By CBD
Check Eligibility for CBD Personal Loan
CBD Personal Loan Calculator
|CBD Personal Loan Details|
|Minimum Salary||AED 8000 per month|
|Interest Rates||Flat rate: 2.45% | Reducing rate: 4.5%|
|Maximum Loan Amount||AED 2500K|
|Early Settlement Fees||1% of the outstanding amount|
|Arrangement Fees||1% of the approved loan amount|
|Age||21 - 60 years(Expats) & 65 years(UAE Nationals)|
Features of CBD Personal Loan
CBD offers personal loans for both Emiratis and expatriates. Some striking features of the personal loans offered by CBD are:
- High loan amounts of up to AED 2.5 million for UAE Nationals and AED 1.5 million for expats.
- Flexible repayment period up to 48 months.
- Competitive interest rates
- Personal loans available with / without salary transfer
- No guarantor required to sign the loan application form
- Current account with minimum balance requirement waived
- Facility of buy-out or transfer of Personal Loan from other banks (with or without topping up the loan amount)
- Free Debit Card for purchases and withdrawals
- Loan deferment available
Fees and Charges
- Processing fee : 1% of loan amount min. AED 500 max. AED 2,500
- Insurance fee : 1% insurance premium
- Part-prepayment : 1% of the prepayment amount
- Early settlement : 1% of the remaining balance
- Loan postponement : AED 100
- Loan rescheduling : AED 250
Eligibility Criteria of CBD Personal Loan
- Minimum salary required is AED 8,000 per month for the Northern Emirates and Sharjah and is AED 10,000 per month for Abu Dhabi and Dubai
- UAE National aged between 21 and 65 years old (at the finance maturity) or if you’re an expatriate aged between 21 and 60 years old (at the finance maturity).
- Permanent employee or with six months minimum length of service with a CBD approved employer
Documents Required of CBD Personal Loan
- Application form and loan agreement
- National ID, valid passport, residence visa and Emirates ID
- Original 3 months bank statement for new customers
- Salary transfer letter
- Salary certificate.
CBD Personal Loan Interest rates
Frequently Asked Questions
Q. What's the early settlement fees of CBD personal loan?
A. Its 1% of the personal loan amount.
Q. Is salary transfer required for the loan?
A. Yes, salary transfer is mandatory.
Q. What's the processing fees required for the loan?
A. Its 1% of the personal loan attained
Q. Are loan deferments allowed?
A. Yes. 2 loan deferral installments are allowed per year.
Q. Can I avail any insurance with this loan?
A. Yes, a free life insurance can be availed with CBD personal loan.
Q. Is part payment allowed?If so what’s the fees?
A. Yes, part payment is allowed with a fees of 1% of the part payment amount.
Q. What's the fees for loan cancellation after approval of the loan?
A. A fees of AED 100 is charged for the cancellation of loan by the individual.
Q. Is the loan amount offered is same for UAE nationals and expats?
A. No.The loan amount offered for UAE nationals is AED 2500K and to that of expats is AED 1500K.
Q. Who can avail this loan?
A. UAE residents can avail CBD personal loan.
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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