About Personal Loans
A personal loan (Personal portion advance) is the conspicuous decision assuming you are looking for a short-term credit facility. It is an unsecured loan facility and is extended on the basis of measures, for example, salary, employer class, work history, FICO assessment, etc by the Banks and non-banking monetary organizations.
Personal Loans with compensation move to the banks can be benefited from with a particular interest rate than a personal loan with the non-salary transfer.
Try not to allow life’s exceptional minutes to cruise you by. All things considered, some of them are once in a blue moon events. Personal loans cover pretty much all that gives you joy and happiness, a family visit back home, a wedding in your family or your kid’s schooling, and considerably more. You can likewise benefit from this facility to take care of your credit card bills for enormous consumptions to diminish exorbitant interest trouble.
Highlights and Benefits of Personal Loans:
- The loan amounts offered range from AED 10,000 to AED 200,000
- Appealing lower loan fees
- Personal loans presented up to 20 times the gross month-to-month compensation.
- Adaptable reimbursement choices start from a year to four years
- Speedy loan approvals
- Straightforward documentation and simple accessibility
- No security
- Credit Life Insurance
Sorts of Personal Loan in UAE:
- UAE Nationals Personal Loan
- Self-employed professionals Personal Loan
- Expatriates Personal Loan
- Personal Loan for a candidate with No Salary transfer
Documents Required for Personal Loan
You will be needed to present the accompanying documents (as relevant) as needed by the particular banks for application login and credit disbursal.
Personal Loan Interest Rate & Charges
Interest Rate | 4.99% to 18.00%* |
Processing Fees | 1% of loan amount Min. AED 500 Max. AED 2500 |
Credit life insurance | 1% of the Loan Amount At Banks Discretion |
Delayed payment penal interest charges | 2% of the delayed amount Min AED 50 Max AED 200 |
Deferment of installment | AED 100 per deferment |
Early Settlement | 1% of remaining balance |
Loan Rescheduling | AED 250 |
Loan Cancellation Fee | AED 100 |
*Rates are subject to change You can check your personalized personal loan eligibility instantly by completing 3 simple steps. Click Here > Check Eligibility
Documents Required
- Application Form
- Passport copy
- Labour Card / Govt issued ID card copy
- Emirates ID card copy
- Salary Certificate
- Salary Transfer/Assignment Letter (if applicable)
- 3/6 months bank statement (Business and/or Personal)
- Trade License, MOA, POA as applicable for self employed
- Balance sheet and P & L as applicable for self employed