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Arab Bank Personal Loans in UAE
| Arab Personal Loan Details | |
|---|---|
| Minimum Salary | AED 7500 per month |
| Profit Rates | Flat rate: 3.2% | Reducing rate: 5.99% |
| Maximum Loan Amount | AED 730,000 |
| Early Settlement Fees | 1% of the outstanding amount |
| Arrangement Fees | 1% of the outstanding amount |
| Tenure | 48 months |
| Age | 21 - 60 years(Expats) & 65 years(UAE Nationals) |
Features of Arab Personal Loan
The personal loans offered by Arab Bank are flexible, easy to apply and offer a host of benefits like:
- Quick approvals and simple documentation
- Online application of loans allowed
- Maximum loan amount of up to AED 730,000
- Loan repayment tenures up to 4 years
- Loan buy out facility available
- The loans are granted at highly competitive rates of interest
- It offers a flexible repayment option
- Grace period of up to 90 days during which no payment has to be made
- There is a dedicated sales and service team available at your convenience
Fees and Charges
- Processing fees for new loans / top ups of existing loans : 1% of the loan amount availed (Min. AED 500 and Max. AED 2500)
- Deferment of instalment : AED 100 per deferment
- Early settlement of loan : 1% of the outstanding amount
- Rescheduling of loan : AED 250
- Cancellation of loan : AED 100
Documents Required of Arab Personal Loan
- Valid national ID and valid passport with valid Resident visa (for residents)
- Recent utility bill in the name of the client e.g. electricity, telephone or rental contract
- Latest Salary/Income/Employment verification document
- Salary transfer letter
- Bank statement of 6 months
Arab Personal Loan Interest rates
1 Arab Bank Personal Loans
Personal Loan
Features
- Repayment period is up to 4 years
- The reduction rate and the flat rate is 5.99% and 3.3%. 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 5.99%
Features
- Repayment period is up to 4 years
- The loan is provided for a interest rate of 5.99%
- Minimum salary of AED 7,500 is required
- The reduction rate and the flat rate is 5.99% and 3.3%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is not mandatory to transfer your salary to apply for this scheme
- Finance up to AED 730000
- Early settlement fee is 1% of finance amount
- Takaful fee is 0.5% of the finance amount
- Arrangement fee is 1% of loan amount
Benefits
- Arab bank provides loan boy-out facility
- About 45 days grace period is provided by the bank
- Loan application processing is fast
- A dedicated manager will assist you all throughout the process
Frequently Asked Questions
Q. Is processing fees same for new loans and top up loans?
A. Yes. Processing fees is same for both and charged at 1% of the loan amount.
Q. Should I be a salaried employee to avail this loan?
A. Yes. The applicant should be earning income to avail this personal loan.
Q. What’s the loan rescheduling fees of Arab Bank?
A. Loan rescheduling fees is charged at AED 250.
Q. Is early settlement fees same for new loans and balance transfer?
A. Yes. Early settlement fees is same and is charged at 1% of the remaining balance.
Q. What benefits I can avail using Arab Bank personal loan?
A. You can avail loan buyout facility, fast processing of loan, 45 days grace period.
Q. Should my employment get verified for applying this loan?
A. Yes. You need to have a latest salary or income or employment verification document to get this loan.
Q. I am expat of age 67. Can I apply for this loan?
A. No. Age limit for expats is 21-60 and 65 for UAE Nationals.
Q. What're the fees for the cancellation of a personal loan?
A. The cancellation fees are usually AED 100.
About Arab
With over 600 branches across five continents, Arab Bank is the largest global bank in UAE. It is headquartered in Amman, Jordan. Arab Bank is also present in key financial markets and centers such as London, Dubai, Singapore, Geneva, Paris, Frankfurt, Sydney, and Bahrain. The bank operates on the following pillars of values:
- Trust
- Commitment
- Corporate responsibility
- Service Excellence
- Customer Focus
- Empowerment
- Teamwork
- Transparency.
Get in touch with Arab Bank Customer Care
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