Emirates NBD Personal Loan Eligibility - Minimum Salary, Age, Salary Transfer

Flat Rate

3.03%

Minimum Salary

AED 5000

Reducing Rate

5.69%

Max Loan Amount

AED 3000000

Early Settlement Fee

1.05%

flat-rate

3.03%

Flat Rate

minimum-salary

AED 5000

Minimum Salary

5.69%

Reducing Rate

loan-amount

AED 3000000

Max Loan Amount

arrangement-fee

1.05%

Arrangement Fee

Advantages

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

Features

  • Repayment period is up to 4 years
  • 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%

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

Benefits

  • 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

2.55%

Minimum Salary

AED 5000

Reducing Rate

4.79%

Max Loan Amount

AED 4000000

Early Settlement Fee

1.05%

flat-rate

2.55%

Flat Rate

minimum-salary

AED 5000

Minimum Salary

4.79%

Reducing Rate

loan-amount

AED 4000000

Max Loan Amount

arrangement-fee

1.05%

Arrangement Fee

Advantages

  • Free 0 balance account
  • No collateral/guarantor required
  • High finance is provided

Features

  • Repayment period is up to 4 years
  • Only UAE Nationals can apply for this loan
  • The reduction rate and the flat rate is 4.79% and 2.55%.

Features

  • Repayment period is up to 4 years
  • Only UAE Nationals can apply for this loan
  • The loan is provided for a interest rate of 4.79%
  • Minimum salary of AED 5,000 is required
  • The reduction rate and the flat rate is 4.79% and 2.55%.
  • It is mandatory to transfer your salary
  • Finance up to AED 4,000,000
  • Early settlement fee is 1.05% of finance amount
  • Arrangement fee is 1.05% of loan amount

Benefits

  • Applicants can get up to AED 4,000,000 loan amount
  • Around 560 ATMs of the Emirates NBD are there around the UAE
  • Initial payment postponement of up to 120 days.
  • You can miss up to two non-consecutive installments per year
  • Free Debit Card and bank account is provided along with this scheme
  • Repayment period is long
  • Documentation is simple and easy
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Flat Rate

2.9%

Reducing Rate

5.29%

Early Settlement Fee

1.05%

flat-rate

2.9%

Flat Rate

5.29%

Reducing Rate

arrangement-fee

1.05%

Arrangement Fee

Features

  • 80%-90% of the fixed deposit amount can be obtained as a maximum loan
  • A maximum tenure of 48 months is provided
  • Both salaried and self-employed individuals are eligible

Features

  • 80%-90% of the fixed deposit amount can be obtained as a maximum loan
  • A maximum tenure of 48 months is provided
  • Both salaried and self-employed individuals are eligible
  • Only NRIs with a valid UAE residence visa are eligible
  • Applicant must fund 20% of the fixed deposit amount
  • Interest rate starts from 5.29% as reducing rate. Flat rate is calculated by dividing 1.814 from the reducing mentioned.

Benefits

  • Can avail loan against deposits
  • Provides high finance
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Emirates NBD

Emirates NBD provides various kinds of personal loans with an intention to meet the requirements of each and every individual.

Eligibility criteria for Emirates NBD

  • Minimum salary of AED 5000 is required.
  • Both UAE Nationals and Expats are eligible.
  • Even self-employed individuals are eligible .

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 5000 then the bank doesn’t approve your loan.
  • Length of service- If no minimum 6 months of duration at work, banks may reject your loan application.
  • Salary transfer- Other than Non-salary transfer personal loan holders, the personal loan holders should transfer their salary to the Emirates NBD account.
  • 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. Banks 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 loan approval chances

  • 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

⭐ Is salary transfer to the Emirates NBD account mandatory?

A. Yes, salary transfer is mandatory. If you cannot transfer your salary to the Emirates NBD account then you can check Non-salary Transfer Personal Loan.

⭐ My service at work is 3 months. Am I eligible for a salary transfer loan?

A. Minimum 6 months of the length of service is required.

⭐ I am new to UAE. Am I eligible to get a loan?

A. Yes, Emirates NBD provides personal loan for individuals new to UAE/new to employment.

⭐ I’m 17 years old. Am I eligible to get a personal loan?

A. Yes, Emirates NBD provides a personal loan to minors.
Check the list of Emirates NBD Personal loans