Citi Personal Loan Eligibility - Minimum Salary, Age, Salary Transfer

Flat Rate

7.8%

Minimum Salary

AED 8000

Reducing Rate

14%

Max Loan Amount

AED 175000

Early Settlement Fee

1%

flat-rate

7.8%

Flat Rate

minimum-salary

AED 8000

Minimum Salary

14%

Reducing Rate

loan-amount

AED 175000

Max Loan Amount

arrangement-fee

1%

Arrangement Fee

Features

  • Loan repayment period is up to 48 months
  • The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
  • You require a minimum salary of AED 8,000 per month to be eligible
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Features

  • Loan repayment period is up to 48 months
  • The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
  • You require a minimum salary of AED 8,000 per month to be eligible
  • It is not a requirement to transfer your salary to apply
  • Maximum loan amount of AED 175,000
  • 1% of outstanding principal is charged as Early Settlement fee
  • Insurance is optional
  • 1% of loan amount [Min AED500; Max AED2500] is charged as arrangement fee

Benefits

  • No salary transfer required
  • High Loan amounts up to AED 175,000
  • Top up loan after 9 months
  • Fast approvals
  • Apply online from the comfort of your own home
  • In principle approval in 10 minutes and get a decision in 24 hours
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Flat Rate

3.7%

Minimum Salary

AED 8000

Reducing Rate

6.99%

Max Loan Amount

AED 500000

Early Settlement Fee

1%

flat-rate

3.7%

Flat Rate

minimum-salary

AED 8000

Minimum Salary

6.99%

Reducing Rate

loan-amount

AED 500000

Max Loan Amount

arrangement-fee

1%

Arrangement Fee

Features

  • Flexible repayment periods between 6 to 48 months
  • The interest rate is calculated on a reducing basis and varies between 6.99% and 8.99% depending on customer income and loan amount
  • You require a minimum salary of AED 8,000 per month to be eligible
Apply Now

Features

  • Flexible repayment periods between 6 to 48 months
  • The interest rate is calculated on a reducing basis and varies between 6.99% and 8.99% depending on customer income and loan amount
  • You require a minimum salary of AED 8,000 per month to be eligible
  • Reduccing rates as low as 6.99%
  • It is a requirement to transfer your salary to apply
  • Maximum loan amount AED 500,000
  • 1% of outstanding principal is charged as early settlement fee
  • Insurance is optional
  • 1% of loan amount [Min AED500; Max AED2500] is charged as Arrangement fees

Benefits

  • High Loan amounts up to AED 500,000
  • Competitive rates as low as 6.99% (reducing)
  • Free bank account with no minumum balance required
  • Top up loan whenever you want
  • Fast approvals
  • Apply online from the comfort of your own home
  • Get a decision in 24 hours
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View details on bank page

Citi

Citi provides a personal loan with quick and hassle-free documentation and no requirement of salary transfer to the Citi account.

Eligibility criteria for Citi

  • Minimum salary of AED 8000 is required.
  • Both UAE Nationals and Expats are eligible.
  • Age limit of 21-65 years is mandatory.

What influences Eligibility?

  • Credit history- Your previous or existing loans and credit cards can affect your current loan approval. Low credit score applications can be rejected.
  • Monthly income- If your monthly income is less than AED 8000 then the bank doesn’t approve your loan.
  • Debt to Burden Ratio- DBR should be maintained low i.e below 65% is preferred by the banks to approve the loan.
  • Age- Age limit of 21-65 yrs is mandatory. Minors below 21 yrs and senior citizens above 65 years (Expats above 60 years) are not eligible.
  • Documents- Documents like Salary certificate, Passport, Emirates ID, Trade license (If Self employed) are mandatory.
    1. Salary Certificate- Salary Certificate is a mandatory document for any kind of finance as it is a proof of your work and an employment in a company. Bank can ask for a salary certificate or salary certificate letter.
    2. Emirates ID- Emirates ID is a proof to confirm your identity. Without Emirates ID banks do not approve the loan.
    3. Trade License- For the self-employed individuals trade license is a mandatory document.

Tips to improve the chances of loan approval

  • Make sure you meet the age limit.
  • Pay your current loans or credit card bills on time so that it won’t disturb your credit score.
  • Maintain all the required mandatory documents.
  • Don’t take more than required finance.
  • It is preferable to go for maximum tenures.

FAQs

⭐ What is the minimum length of service required?

A. Minimum 6 months of duration at work is required.

⭐ What are the minimum and maximum tenure of the loan?

A. A minimum tenure of 6 months and a maximum tenure of 4 years is provided.

⭐ What is the maximum finance provided?

A. On Salary Transfer Loan maximum finance of 8 times your salary is provided and on Non-Salary Transfer Loan maximum finance of AED 1,75,000 is provided.

⭐ Is salary transfer mandatory?

A. Yes, the salary transfer is required. If you cannot transfer your salary then you can go forPersonal Installment loan.
Check the list of Citi Personal loans.

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