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Emirates NBD Personal Loan for Self Employed Individual

Emirates NBD Personal Loan for Self Employed Individual
Minimum Salary

25,000 AED

Flat Rate

11.51 %

Reducing Rate

19.99%

Max. Term

4 Years

Salary Transfer

No

Islamic Finance

No

Description

A simple loan option to meet your financial needs even without declaration of end use of funds

Major Advantage: Finance for self-employed professional

Points to Consider: Rate can change as per the customer profile

Features

Major Feature:

  • No collateral or guarantor required
  • 100% cash without end use declaration
  • 7-day loan return option
  • Double Insurance converage

 

Minimum Requirement: Required to maintain minimum 6 months average balance of AED 25,000; Minimum 2 years length of business required

Reducing Rate (as advertised): Starting from 19.99% p.a. (depends on the customer profile)

Flat Rate: 11.51% p.a.

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

Maximum Finance Amount: AED 300,000

Islamic Finance: No

Maximum Term: 48 Months

Salary Transfer: Not required

Early Settlement Fees: 1% of outstanding amount

Insurance: 1.50% of the loan amount (It comes with double credit life coverage)

Holiday Period:  Yes, deferment options available

Salaried/Self Employed:  Only self-employed 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 6 Months Bank statement
  • Trade License
  • MOA (Memorandum of Association)
  • POA (Power of Attorney) 
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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