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Emirates NBD Personal Cash Loan

Emirates NBD Personal Cash Loan
Minimum Salary

10,000 AED

Flat Rate

4.86 %

Reducing Rate

8.99%

Max. Term

4 Years

Salary Transfer

Yes

Islamic Finance

No

Description

Emirates NBD strive to provide financial assistance to everybody who needs it. With their Personal Cash Loan, even those who are employed by companies which are not on Emirates NBD's Approved List can get access to additional funds if the need arises.

Major Advantage: Available even for customers whose employer is not on Emirates NBD's Approved List

Points to Consider: There is an early settlement and processing fees

Features

Major Feature:

  • 7 Days loan return option
  • Double credit life coverage
  • Free Bank account
  • Get free credit card for 1st year

 

Minimum Salary Requirement:

  • AED 10,000 when you have an existing credit card or Auto Loan with Emirates NBD
  • AED 12,000 for bank account holders with no credit card or Auto Loan with Emirates NBD

 

Minimum Eligibility Requirement:

  • Minimum of 12 months banking relationship
  • Minimum 6 salary credits with 6 months length of service with current company

 

Reducing Rate (as advertised): Starting from 8.99% pa

Flat Rate: 4.86% p.a.

Processing Fees: 1% of the finance amount (Min AED 500; Max AED 2,500)

Maximum Finance Amount: AED 500,000

Islamic Finance: No

Maximum Term: 48 Months

Salary Transfer: Compulsory

Early Settlement Fees: 1% of the outstanding amount

Insurance: 1.50% (It comes with double credit life coverage)

Holiday Period: Yes, Deferment option available, you can skip two non-consecutive installments per year

Salaried/Self Employed: Only salaried can apply

Documents Required
  • Valid Passport Copy with valid Resident Visa page
  • UAE Nationals: Idbara page of UAE Nationals
  • Original Emirates ID and Emirates ID copy
  • Proof of Residency or Utility Bill
  • Undated Security Cheque
  • Credit Card Statements (Where applicable)
  • Latest 3 Months Bank statement
  • Latest Salary Certificate / Salary Transfer Letter   
Additional Info
  • All info mentioned can change at any point of time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Reducing rate is converted into Flat rate as per 4 years calculation.
  • Terms and conditions apply. 
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