Credit Bureau Consent, Welcome Offer & General Terms & Conditions

I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.

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United Arab Bank Business Loan

United Arab Bank Bank

Business Loan

Flat Rate

8.82%

Reducing Rate

16%

Min Finance Amount

AED 250K

Max Finance Amount

AED 1500K

Early Settlement Fee

5%

Min Annual Turnover

AED 3000K

Tenure

36 Months

Approval Time

10 Days

Processing Fee

2%

flat rate

8.82%

Flat Rate

reducing rate

16%

Reducing Rate

AED 250K

Min Finance Amount

maximum finance

AED 1500K

Max Finance Amount

early settlement fee

5%

Early Settlement Fee

minimum turnover

AED 3000K

Min Annual Turnover

tenure

36 Months

Tenure

approval time

10 Days

Approval Time

processing fee

2%

Processing Fee

View details on bank page

Features

  • The reduction rate and the flat rate is 16% and 8.82%. This denotes that the computation done was a division of the reduction rate by 1.812
  • Provides maximum finance amount of up to AED 1,500,000
  • Early settlement fee is 5% of the finance amount
  • Processing fee is 2% of the loan amount
  • Repayment period is up to 36 months
  • Provides minimum finance amount of up to AED 250,000
  • 2 years minimum length of business is required to qualify for this finance
  • The maximum annual turnover limit to be eligible for this finance is AED 600,000,000
  • Minimum annual sales turnover of AED 3,000,000 is needed to apply for this finance
  • Provided with pre-approved credit card free for life
  • You need to have a bank account with United Arab Bank to apply for this finance
  • After successful submission of documents, within next 10 working days the bank will approve the loan

Required Documents

  • Trade License should be valid
  • All the partners and local partners are required to submit passport copies while applying for the finance
  • All the partners and local partners are required to submit Emirates ID while applying for the finance
  • Audited financials of last 2 years have to be submitted to the bank
  • Application form
  • Copy of share certificates

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • A dedicated relationship manager guides you throughout the process
  • Documentation process is simple and easy

Frequently Asked Questions

⭐ Do we have to give any penalty on prepayment of business loan?

A. Yes, you can do prepayment of loan after 6 months of loan disbursal and it can only be done once a year. Along with this prepayment penalty will also be charged.

⭐ What will happen if there is an ECS bounce in United Arab bank?

A. It will be reported in your credit history and will affect your credit possibilities in future.

⭐ How do we repay our business loan in United Arab bank?

A. You can repay business loan through PDC or sign a ECS mandate in favor of the United Arab bank.

⭐ What can be the length of my loan?

A. Depending on ho much is being financed, length of loan can be upto 36 months.

⭐ Why is it suggested to refinance your existing loan?

A. It is suggested to refinance your existing loan because interest rates will be charged low in such case.

United Arab

Headquartered in Sharjah, with over 25 branches across the UAE, United Arab Bank, P.J.S.C. (UAB), which was incorporated in 1975, has established itself as a leading banking services provider in the UAE. UAB has a Vision ‘of being the trusted partner and the UAE bank of choice for customers’ and a Mission of ‘offering a superior customer experience, creating shareholder value, and adopting an innovative banking approach while remaining loyal to the nation's heritage and contributing to the overall development of the UAE.’ UAB follows the values of :

  • Integrity
  • Customer Focus
  • Competence
  • Consistency
  • Courteousness

   Get in touch with United Arab Bank Customer Care