Emirates NBD Personal Loan Eligibility - Minimum Salary, Age, Salary Transfer
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Details on Personal Loan Eligibility at Emirates NBD
Advantages
- Free 0 balance account
- Low interest rates
- High finance amount
Features
- Repayment period is up to 4 years
- 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%
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
Benefits
- 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
Explore
Hide ExploreAdvantages
- Free 0 balance account
- No collateral/guarantor required
- High finance is provided
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this loan
- The reduction rate and the flat rate is 4.79% and 2.55%.
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this loan
- The loan is provided for a interest rate of 4.79%
- Minimum salary of AED 5,000 is required
- The reduction rate and the flat rate is 4.79% and 2.55%.
- It is mandatory to transfer your salary
- 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
- Applicants can get up to AED 4,000,000 loan amount
- Around 560 ATMs of the Emirates NBD are there around the UAE
- Initial payment postponement of up to 120 days.
- 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
- Documentation is simple and easy
Features
- 80%-90% of the fixed deposit amount can be obtained as a maximum loan
- A maximum tenure of 48 months is provided
- Both salaried and self-employed individuals are eligible
Features
- 80%-90% of the fixed deposit amount can be obtained as a maximum loan
- A maximum tenure of 48 months is provided
- Both salaried and self-employed individuals are eligible
- Only NRIs with a valid UAE residence visa are eligible
- Applicant must fund 20% of the fixed deposit amount
- Interest rate starts from 5.29% as reducing rate. Flat rate is calculated by dividing 1.814 from the reducing mentioned.
Benefits
- Can avail loan against deposits
- Provides high finance
Emirates NBD
Emirates NBD provides various kinds of personal loans with an intention to meet the requirements of each and every individual.
Eligibility criteria for Emirates NBD
- 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.
- Monthly income- If your monthly income is less than AED 5000 then the bank doesn’t approve your loan.
- Length of service- If no minimum 6 months of duration at work, banks may reject your loan application.
- Salary transfer- Other than Non-salary transfer personal loan holders, the personal loan holders should transfer their salary to the Emirates NBD account.
- 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. Banks 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 loan approval chances
- 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
⭐ Is salary transfer to the Emirates NBD account mandatory?
A. Yes, salary transfer is mandatory. If you cannot transfer your salary to the Emirates NBD account then you can check Non-salary Transfer Personal Loan.
⭐ My service at work is 3 months. Am I eligible for a salary transfer loan?
A. Minimum 6 months of the length of service is required.
⭐ I am new to UAE. Am I eligible to get a loan?
A. Yes, Emirates NBD provides personal loan for individuals new to UAE/new to employment.
⭐ I’m 17 years old. Am I eligible to get a personal loan?
A. Yes, Emirates NBD provides a personal loan to minors.
Check the list of Emirates NBD Personal loans