Check Eligibility for Emirates Islamic
Personal Loan

You are eligible to apply for a Emirates Islamic
Personal Loan .

You may not be eligible * to apply.

* Minimum salary AED 5000 required to apply for a Emirates Islamic Personal Loan .

*No loan for :User_Nationality available in this page

Click here to check from other banks.

Emirates Islamic Personal Loan Calculator

Personal Loan Provided By Emirates Islamic

Last Updated on 19-09-2019

Check Eligibility for Emirates Islamic Personal Loan

You are eligible to apply for a Emirates Islamic
Personal Loan .

You may not be eligible * to apply.

* Minimum salary AED 5000 required to apply for a Emirates Islamic Personal Loan .

Click here to check loans from other banks.

Emirates Islamic Personal Loan Calculator

ADIB Smart Account
Emirates Islamic Personal Loan Details
Minimum Salary AED 5000 per month
Profit Rates Flat rate: 3.19% - 3.59% | Reducing rate: 5.74% - 6.47%
Maximum Loan Amount AED 2000K - AED 4000K(depends on the nationality and type of loan)
Early Settlement Fees 1% of the outstanding amount
Arrangement Fees 1% of the approved loan amount
Tenure 48 months
Age 21 - 60 years(Expats) & 65 years(UAE Nationals)

Features of Emirates Islamic Personal Loan

  • Both salaried and self-employed customers are eligible for Emirates Islamic Bank Personal Loan
  • Competitive profit rates are charged
  • UAE Nationals can get a loan up to AED 4 Million and Expats can avail up to 1 million.
  • Quick approval of loan
  • Can get a pre-approved credit card and no annual fees are charged in the first year.
  • Nominal processing fees
  • Can avail takaful insurance coverage

Emirates Islamic provides personal finance to salaried and self-employed individuals in accordance with Murabaha arrangement by trading the Shariah-compliant instruments like Wakala or Shares Certificates. The options available are:

  • Personal Finance
  • Goods and Services Finance

Let’s look at the salient features of each of them.

Personal Finance

  • Maximum loan amount of up to AED 4 million for UAE nationals and AED 1 million for expatriates
  • Competitive profit rates
  • Quick Processing of application
  • Minimum monthly salary requirement of AED 5000
  • Minimum one month/first salary credit into Emirates Islamic account
  • Exclusive policy terms on buyout loans/finances
  • Pre-approved credit card with first year’s annual fees waived off

Goods and Services Finance

Emirates Islamic bank also provides personal finance to help you buy a range of goods and services.

Goods
  • Furniture
  • Electronics
  • Computers
  • Motorcycles
  • Home Renovation
Services
  • Wedding services
  • Travel Services
  • Medical treatment
  • House rent
  • Education

Eligibility Criteria of Emirates Islamic Personal Loan

  • AED 5000 is the minimum monthly salary required
  • Loan applicant must have at least 1 month Length of service at work or transfer first salary to Emirates Islamic Bank account
  • The applicant must be minimum 21 years and maximum 65 years (UAE Nationals) and 60 years (Expatriates) at the time of maturity

Check here for the Eligibility Criteria of Emirates Islamic Bank Personal Loan

Documents Required of Emirates Islamic Personal Loan

  • Duly-filled bank application form
  • Valid Passport of the applicant
  • Valid UAE resident visa for expats
  • Latest 3 months bank statements where to the salary is transferred
  • Salary transfer letter/salary certificate (for salaried customers only)
  • Liability letter (for buyout cases only)
  • Trade license (for self-employed customers)

Emirates Islamic Personal Loan Profit Rates

Emirates Islamic Bank

2 Emirates Islamic Bank Personal Loans

Personal Finance for Expats

minimum salary

Minimum Salary

AED 5K

flat rate

Flat Rate

3.59%

reducing rate

Reducing Rate

6.47%

loan amount

Loan Amount

AED 2000K

early settlement fee

Early Settlement Fee

1%

arrangement fee

Arrangement Fee

2.5%

minimum salary

AED 5K

Minimum Salary

flat rate

3.59%

Flat Rate

reducing rate

6.47%

Reducing Rate

loan amount

AED 2000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

2.5%

Arrangement Fee

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

Features

  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 4.69%
  • Minimum salary of AED 5,000 is required
  • The flat rate and the reduction rate is 3.59% and 6.47%.
  • It is mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 2,000,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 2.5% of loan amount

Benefits

  • 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

Personal Finance for UAE Nationals

minimum salary

Minimum Salary

AED 5K

flat rate

Flat Rate

3.19%

reducing rate

Reducing Rate

5.74%

loan amount

Loan Amount

AED 4000K

early settlement fee

Early Settlement Fee

1%

arrangement fee

Arrangement Fee

2.5%

minimum salary

AED 5K

Minimum Salary

flat rate

3.19%

Flat Rate

reducing rate

5.74%

Reducing Rate

loan amount

AED 4000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

2.5%

Arrangement Fee

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

Features

  • Repayment period is up to 4 years
  • Only UAE Nationals can apply for this scheme
  • The loan is provided for a interest rate of 5.74%
  • Minimum salary of AED 5,000 is required
  • The reduction rate and the flat rate is 5.74% and 3.19%.
  • It is mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 4,000,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 2.5% of loan amount

Benefits

  • 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

Frequently Asked Questions

Q. What are the finance charges for ADCB SimplyLife Credit Cards?

A. The finance charges are 3.25% per month for retail purchases and 3.25% per month for a cash advance. [These are effective since April 15, 2016] For cash advances, there is an additional cash advance fee of 3% of the amount subject to a minimum of AED 50.

Q. What is the maximum tenure provided on 0% EPP?

A. The maximum tenure depends on the outlet you made your purchase which varies from 3-12 months.

Q. What is the maximum credit limit provided?

A. The maximum credit limit depends on the minimum salary of the credit card applicant.

Q. Can the credit limit be increased?

A. Yes, the credit limit can be increased for a limited time on paying AED 52.50 as temporary credit limit charges.

Q. What are the processing fees on converting regular payments to Easy Installment plan?

A. AED 52.50 is charged as processing fees on converting regular payments to easy payment plan.

Q. Can the photo on the credit card be replaced?

A. Yes, you can get the photo on the credit card replaced on paying AED 57.75 as replacement fees.

Q. Is it mandatory to get credit shield on the card?

A. No, credit shield for the credit card is mandatory.

About Emirates Islamic

In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.

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