Personal Loan Provided By CBI
Check Eligibility for CBI Personal Loan
CBI Personal Loan Calculator
|CBI Personal Loan Details|
|Minimum Salary||AED 8000 - AED 35000 per month (depends on the nationality and type of loan)|
|Interest Rates||Flat rate: 2.61% | Reducing rate: 4.75%|
|Maximum Loan Amount||AED 1000K|
|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 CBI Personal Loan
The salient features of the personal loans offered by CBI are:
- Maximum loan amount of up to AED 500,000 or up to 20 times the multiple of your salary
- Get a credit card free for life with the loan
- Flat and reducing interest rate options are available
- Simple and fast application processing with minimal documentation required
- Interest rates are amongst the lowest in the industry.
- Processing fee : 1% of the amount availed (Min. AED 500 and Max. AED 2500)
- Penal charges for late payment : 2% of the repayment amount (Min. AED 50 and Max. AED 200)
- Deferring of instalment : AED 100 per deferment
- Early settlement of loan : 1% of the balance
- Rescheduling of loan : AED 250
- Cancellation of loan : AED 100
Fees and Charges
Documents Required of CBI Personal Loan
- Completed application form.
- A copy of valid passport with valid UAE residence visa for Expatriates (original required for verification).
- A copy of a valid Emirates ID.
- Last 3 months bank statement.
- Salary transfer letter.
- Liability or clearance letter (for buyout cases).
- Original salary certificate.
CBI Personal Loan Interest rates
Frequently Asked Questions
Q. Are there any other personal loans provided?
A. Yes, there are various personal loans provided. You can check otherpersonal loan in UAEhere.
Q. Can I avail Insurance coverage on this personal loan?
A. Yes. Insurance coverage can be obtained with this personal loan.
Q. What’s the loan amount provided for self-employed professionals?
A. Maximum loan amount of AED 500,000 can availed by self-employed professionals.
Q. Can I apply for this loan without original salary certificate?
A. No. Original salary certificate is mandatory to acquire loan from CBI.
Q. Who can get CBI personal loan?
A. UAE nationals and expats can get CBI personal loan.
Q. What are the benefits provided by this loan?
A. Customer can benefit a free credit card, loan amount that suits his requirements, insurance coverage, maximum amount that’s 20 times his salary.
Q. Is salary transfer letter mandatory for this loan?
A. Yes. Salary transfer letter is mandatory for CBI personal loan
Q. Is there any processing fees for CBI personal loan?
A. Yes, 1% of the loan amount is charged as processing fees.
Q. What is the minimum salary required for a CBI personal loan?
A.The minimum salary required for a personal loan in CBI is AED 8000.
Q. What is the eligibility criteria for a personal loan in CBI?
A. The eligibility criteria for a personal loan in CBI is the applicant needs to be UAE resident and have a minimum income of AED 8000.
Q. What are the interest rates charged on a personal loan in CBI?
A. The interest rates charged on a personal loan in CBI is Flat rate: 1.65%-3% and Reducing rate: 3%-5.44%.
Since its incorporation in the UAE in 1991, CBI is consistently focused on giving simple and easy-to-understand products. It is inspired by a vision of building long-term relationships. The bank offers a comprehensive portfolio of standard banking products, as well as customized financial products for Corporate, SME as part of Retail Banking. Their tailor-made services range from a personal account to financing of homes and automobiles to commercial loans and project financing. The bank work on the values of:
- Customer Focus
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