Emirates NBD Self Employed Personal Loan for Professionals

emirates-nbd Bank

WarningMessage This product is valid by the Bank

Self Employed Personal Loan for Professionals

Minimum Salary

AED 20K

Flat Rate

10.87%

Reducing Rate

18.99%

Loan Amount

AED 300K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 20K

Minimum Salary

10.87%

Flat Rate

18.99%

Reducing Rate

AED 300K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 18.99%
  • Minimum salary of AED 20,000 is required
  • The reduction rate and the flat rate is 18.99% and 10.87%. This denotes that the computation done was a division of the reduction rate by 1.747
  • It is not mandatory to transfer your salary
  • Finance up to AED 300,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 1% of loan amount

Benefits

  • Applicants can get up to AED 300,000 loan amount
  • Around 560 ATMs of the Emirates NBD are there around the UAE
  • 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
  • Self employed professionals such as doctors, accountants, engineers and architect can apply for this loan
  • Documentation is simple and easy

Frequently Asked Questions

Q. Can self employed individuals avail this finance?

A. Self-employed professionals like doctors, chartered accountants, artists etc. are eligible for this finance.

Q. For how long I should have been into my profession to be eligible for this loan?

A. The loan applicant must have been into his/her profession at least since one year.

Q. Do I need to submit any proof of work?

A. Yes, you need to provide your ID proofs of work.

Q. Are minors eligible for the loan?

A. Yes, minors are eligible only with a co-borrower who is more than 21 years.

Q. What are the charges on the credit life insurance?

A. 1.24%-1.99% of the outstanding loan balance is charged as the credit life insurance premium.

Q. Do I need to provide any post dated cheques?

A. Yes, one post-dated cheque should be given.

Q. Can the co-applicant provide the post dated cheques?

A. No, only the primary applicant needs to give a post-dated cheque.

Emirates NBD

In 2007, Emirates Bank International (EBI) and the National Bank of Dubai (NBD), the second and fourth largest banks in UAE, merged to form the banking champion - Emirates NBD. With more than 200 branches and over 900 ATMs and Cash Deposit Machines (CDMs) across the country and overseas, it is globally recognized as the most valued financial services provider in the Middle East. On November 15, 2016, Emirates NBD took over Emirates Money Consumer Finance LLC, becoming a regional consolidation blueprint for banking and finance sector in the UAE.

Corporate Values of the Emirates NBD are:

  • Customer Focus
  • Service Excellence
  • Innovation
  • Passion For Performance
  • Integrity
  • Teamwork