Personal Loan Calculator
Appoximate Monthly Cost 123AED
Principal Amount
AED 8000
Intrest Rate
6%
Duration
13months
Total Interest Amount
AED
Total payable
8000 AED
How does a calculator help to plan your finances?
Amongst the different important steps, calculating your Equated Monthly Installment(EMI) is vital. It helps the borrower to plan the finances in a better way.
- To plan the expenses prior rather than starting during payback.
- Gives an approximate estimation of EMI.
- It helps you comprehend the loan amount you can apply for.
- Can understand and compare the interest rates of different banks.
- Can understand how much he/she will be paying on the amount borrowed.
- Existing personal loan holders to calculate the EMI for a cross-reference.
What to check before taking a personal loan?
Plan before applying for a personal loan. Proper planning is important before applying for a personal loan.
- Check each and every detail like type of interest rates, processing fees, prepayment charges, etc.
- Not all banks provide loans on the same charges.
- Getting a personal loan for unnecessary expenses can have a bad impact on your finances.
- Check, Compare different loans, and Calculate the EMI before applying.
When a personal loan can be the best option?
As the name suggests a personal loan is for personal reasons. At most of the banks in UAE, stating the reason for the personal loan is not mandatory it can be opted for.
- To pay credit card dues
- To clear existing high-interest loans
- For a wedding
- To go for a vacation
- To buy new furniture
- To pay medical bills if the medical insurance doesn’t cover all the medical expenses
When you should not go for a personal loan?
Personal loans are the loans provided on no collateral requirement that is the reason they are known as unsecured loans. Don’t apply for personal loans to
- Buy a car.
- Start a business.
- Purchase a house.
- For investments.
- To lend someone else.
- To pay medical bills if the medical insurance doesn’t cover all the medical expenses
There are respective loans provided to buy a car, house or for a business and are provided on taking collateral into consideration.
What are the alternative options for a personal loan?
Usually, a personal loan comes with a higher interest rate. So a person who is in need of money can choose another option which can be easier than a personal loan. Like,
- Loan against property
- Loan against vehicle
- Salary advance
- Gold loan
- Loan against deposits
However, picking an alternative to a personal loan depends on the situation. The loan applicant must pick a loan that is provided at a low-interest rate and a comfortable repayment period.
Minimum Salary
Interest Rate
Loan Amount
Reducing Rate
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Min Salary
Interest/Profit Rate
Other Filters
CLEAR
Advantages
- No processing fees
- Free ADIB Booking.com Signature Card
- Can postpone 2 installments per year
Features
- Required to submit bank account details for last 3 months
- UAE Nationals of age 21 to 65 years can apply for this scheme
- Expats of age 21 to 60 years can apply for this scheme
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is upto 48 months
- The loan is provided for an interest rate of 7.25%
- Minimum salary of AED 5,000 is required
- The reduction rate and the flat rates are 7.25% and 3.72%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance up to AED 1,000,000
- The early settlement fee is 1% of the outstanding amount to date
- Takaful cover is 1.25% of the finance amount. Takaful is optional
- No Arrangement fees
- Finance up to AED 1 million amount
For finance up to AED 1,000,000 mortgage is not necessary
ADIB Booking.com Signature Card will be provided free for the first year
You are allowed to postpone two payments per year (without any additional charges)
First installment can be paid up to 90 days of approval for loan
Advantages
- Credit life insurance is not mandatory
- Quick processing & approval
- Flexible tenure
- The loan is provided for an interest rate from 6.75% to 19%
- Minimum salary of AED 7,500 is required for salaried & AED 20000 for self employed Dentists or Doctors.
- The reduction rate starts from 6.75% to 19%
- It is mandatory to transfer your salary
- Maximum finance provided is up to AED 750,000 for expats and AED 1,000,000 for UAE national
- Early settlement fee is 1% of finance amount
Late Payment Fee: 2% of delayed amount
Partial Loan Payment: 1% of payment - Arrangement fee is 1% of loan amount
- Applicants can get up to AED 1,000,000 loan amount
Documentation is simple and easy
Flexible repayment terms: Choose a repayment period from 6 to 48 months.
No credit life insurance required: No extra insurance needed for your loan.
Personalised interest rates: Get a rate tailored to your circumstances.
Loan top-ups available: Borrow more later, subject to approval.
Advantages
- Flexible tenure
- Quick processing
- High finance
Features
- Length of service should be minimum 6 months
- Need to provide salary transfer letter in Mashreq format
- Only Expats can apply for this scheme
Features
- Length of service should be minimum 6 months
- Need to provide salary transfer letter in Mashreq format
- Only Expats can apply for this scheme
- The loan is provided for a interest rate of 6.49%
- Minimum salary of AED 7,000 is required for an approved company. For non-listed companies, AED 10,000 is required.
- The reduction rate and the flat rate is 6.49% and 3.57%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 1,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is 1.05% of loan amount
- Applicants can get up to AED 1,000,000 loan amount
Documentation is simple and easy
There is low salary requirement and long repayment period along with this scheme
Credit Card, Cheque book and debit card is provided free along with this scheme
Applicants can get finance for non-listed companies in UAE too
Advantages
- Free rewards credit card
- Overdraft facility on current account
- Phone banking facility
Features
- The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
- The loan is provided for a interest rate of 6.75%
- Minimum salary of AED 8000 is required
Features
- Repayment period is up to 4 years
- The loan is provided for a interest rate of 6.75%
- Minimum salary of AED 8000 is required
- The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 1,000,000
- Early settlement fee is 1% of finance amount
- Arrangement fee is 1% of loan amount
- High Finance amount is provided by the bank
Along with this loan free credit card is offered
Provides insurance coverage for permanent disability and death
Advantages
- Free debit card
- Current account with no minimum balance
- Can avail top-up facility
Features
- The reduction rate and the flat rate is 5.5% and 3.03%. This denotes that the computation done was a division of the reduction rate by 1.814
- The loan is provided for a interest rate of 5.5%
- Minimum salary of AED 8,000 is required
Features
- Repayment period is up to 4 years
- The loan is provided for a interest rate of 5.5%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.5% and 3.03%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 750,000
- Early settlement fee is 1% of finance amount
- Takaful fee is 0.82% of the finance amount
- Arrangement fee is 1% of loan amount
- High Finance amount is provided by the bank
Availability of buy-out facility
Determent facility available - maximum 2 times a year without additional profit
Free Debit Card is provided along with this scheme
Free Current Account is provided along with this scheme with no minimum balance requirement
Advantages
- Free 0 balance account
- Low interest rates
- High finance amount
Features
- 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%
- Minimum salary of AED 5000 is required
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
- 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
Advantages
- Personal life insurance coverage is provided
- Quick approval
- Get a fixed Interest rate at 5.34 % per year for Multi Product Package (with a salary transfer to your FAB account and holding a credit card from FAB)
Get a Variable interest rate of 6.95% per year for a salary transfer to your FAB account without holding a FAB credit card
A reducing rate of 6.95% and a flat rate of 3.55% is charged. The flat rate is calculated by dividing the reducing rate by 1.814 (Indicative only) - A minimum salary of AED 7000 is required
- Salary transfer is required with or without holding FAB credit card
- Maximum loan amount of AED 2 Million is provided
- Comprehensive personal life insurance coverage
You can achieve financial goals with FAB personal loan by enjoying the best interest rates which start at 5.34 percent per year
Get the privilege of flexible repayment with 120 days first installment grace period.
Enjoy quick and easy approvals with hassle free documents.
Get up to AED 7,500 FAB rewards when you transfer salary to FAB account holding FAB credit card
Advantages
- Free Credit Card
- Low processing fees
- Only 1 month salary transfer is required
Features
- The flat rate and the reduction rate is 3.99% and 7.34%.
- The loan is provided for a interest rate of 7.34%
- Minimum salary of AED 10,000 is required
Features
- Repayment period is up to 4 years
- The loan is provided for a interest rate of 7.34%
- Minimum salary of AED 10,000 is required
- The flat rate and the reduction rate is 3.99% and 7.34%.
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 2,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is 1% of loan amount
- 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
Advantages
- Finance is based on Sharia principles
- Quick processing
- High loan amount
Features
- Repayment period is up to 4 years
- The rates applied will depend on the salary
- Only expats can apply for this scheme
- Your debt liabilities are consolidated in one
- The loan interest rates starts from 11% onwards up to 21.99% (reducing rate)
- Minimum salary of AED 3000 is required
- The reduction rate and the flat rate is 11% and 6%.
- It is mandatory to transfer your salary to apply for this scheme
Customers who can transfer their salary to DIB (Dubai Islamic Bank) can request installment postponement through the DIB alt phone banking service. - Finance up to AED 2,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is AED 1050
- Finance is provided for sharia-compliant goods
Repayment period is long
High loan amount is provided
Dedicated Manager will assist you throughout the process
Processing is quick
Advantages
- Free Credit Card
- Only 1 month salary transfer is required
Features
- The reduction rate and the flat rate is 5.5% and 2.99%.
- The loan is provided for a interest rate of 5.5%
- Minimum salary of AED 10,000 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 5.5%
- Minimum salary of AED 10,000 is required
- The reduction rate and the flat rate is 5.5% and 2.99%.
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 4,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is 1.05% of loan amount
- 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