Emirates Islamic Bank Personal Loan Eligibility - Minimum Salary, Age, Salary Transfer
Your details are safe and secured
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.
Thank you for providing your details.
Details on Personal Loan Eligibility at Emirates Islamic Bank
Advantages
- Free Credit Card
- Low processing fees
- Only 1 month salary transfer is required
Features
- Repayment period is up to 4 years
- The flat rate and the reduction rate is 3.99% and 7.34%.
- The loan is provided for a interest rate of 7.34%
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
Benefits
- 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
Explore
Hide ExploreAdvantages
- Free Credit Card
- Only 1 month salary transfer is required
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- The reduction rate and the flat rate is 5.5% and 2.99%.
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
Benefits
- 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
Emirates Islamic Bank
Emirates Islamic Bank follows Islamic banking principles. It provides personal loan for reasonable profit rates on quick and hassle-free documentation.
Eligibility criteria for Emirates Islamic Bank
- 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.
- Length of service- If no minimum 6 months of duration at work, the bank may reject your loan application.
- Debt to Burden Ratio- DBR should be maintained low i.e below 50% is preferred by the banks to approve the loan.
- Monthly income- If your monthly income is less than AED 5000 then the bank doesn’t approve your loan.
- Age- Age limit of 21-65 yrs is mandatory. Minors below 21 yrs and senior citizens above 65 years (Expats above 60 years) are not eligible.
- 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. Bank 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 the chances of loan approval
- 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
⭐ What is the minimum length of service required?
A. Minimum 1 month of duration at work or first-month salary transfer to the Emirates Islamic bank account is required.
⭐ What are the additional benefits provided?
A. FreeEmirates Islamic Bank Credit Cardwill be provided.
⭐ How many months bank statements are required?
A. Minimum 3 months bank statements are required.
⭐ What is the annual fee charged on the credit card provided?
A. The annual fees on the credit card provided is zero for the first year.
Check the list of Emirates Islamic Bank Personal loans.