Emirates NBD Personal Loan in UAE

There are so many options for repayments of a personal loan if you avail of this loan through Emirates NBD. This bank is working exceptionally and offers the most outstanding finance services. Even, the higher debts are also with the lower rates. It is beneficial in the repaying of lower cost of the debt. Its application procedure is so easy that you will easily apply and then get quick approval. With the utilization of this loan, you can meet any of your personal financial expenses. In particular, if you have any confusion related to the application process, Emirates Loan will give you all the details. So, you will understand the way to apply for personal loans.     

Best Emirates NBD Personal Loans

The personal loans of Emirates NBD are available in numerous different options. Check the following options and then decide which debt option is right for you:    

Salary Transfer loan:

Debt with the feature of salary transfer is widely common and preferred by borrowers. The reason for choosing this loan type is that a borrower can obtain a higher amount of debt with lower rates. The maximum amount is three and four million AED for ex-pats and nationals respectively. With the little paperwork of transferring your salary, you will receive the funds directly in your bank account. 

Loan for Expats:

In UAE, the population of expats is higher because they want to earn a good income per month. And, then they make their lifestyle amazing. UAE’s 80% population consists of expatriates. Every expatriate face financial issue at any time in their lives. In such a situation, they require additional finances to solve out their issues. The Emirates NBD offers an impressive type of personal debt to such individuals. With an attractive rate, the expats obtain a higher debt amount of three million AED. 

Loan for Nationals:

 In addition to providing loans to expats, this lender also considers the financial needs of Emirati clients. All nationals easily get access to a higher debt amount of four million AED. However, the requirements are that they meet the lender’s criteria of eligibility. Moreover, the interest rates for national borrowers are lower than for expats. 

Factors to consider when choosing Emirates NBD personal loan 

There are important factors that every applicant must know when they decide to choose a personal loan from the Emirates NBD. It is essential to know these factors and then apply them according to your financial budget. 

Minimum Salary: 

The applicants’ salary must in between five thousand to twenty-five thousand AED every month. The factor of monthly salary also depends on the nationality of a borrower.  

Age: 

The minimum age for all expats & nationals is 21 years. But the maximum age for expats is 60 years and the age limit is 65 years for nationals. No one can get the loans if their age is more than 65 years.   

Loan amount: 

The maximum loan amount starts from 200K AED and goes up to 4000K AED. According to the nationality and loan type, this bank offers the specific maximum debt amount to Borrowers. 

Tenure: 

When you get the debt, the tenure of repayment starts for the repaying of the funds. You have to pay off the debt within this period. It is crucial to choose the repayment duration wisely. Therefore, the repayments will not disturb your budget. This loan’s tenure is up to 48 months. For higher amounts, the period of repaying is higher as compared to lower funds.    

Interest rates: 

The interest rates of Emirates NBD are lower in contrast to other financial institutions. With just a 2% interest rate, borrowers avail the personal debts. All those individuals who have good credit scores, obtain loans with lower rates. 

Settlement & arrangement fees: 

The bank allows for early settlement and arrangement options for debt repayments. But they charge specific fees if you opt for any of these options. The paying of this fee is compulsory and you will need to pay if you want to do early settlement of the debt. 

Calculate personal loan installments 

The calculation of the loan’s monthly installment is essential before applying. Otherwise, you cannot repay the debt within tenure because your managing way of financial budget is not good. The easier way to calculate the monthly installments of this bank’s loan is to use its loan calculator. You can quickly find this calculator on the ENBD’s official website. Without paying any cost, the applicants can utilize this calculation service tool of the bank.    

Avail of a loan without a salary transfer

ENBD also provides the option of availing a loan with no need for salary transfer. But the meeting of all other criteria is mandatory. The bank verifies all other details of the applicant such as residency. The higher income level is ideal for getting quick approval. You have to provide proof of your monthly steady source of income if you want to not face the problem of application rejection. 

Required documents for personal loans 

Just like other financial institutions, this bank also provides the debt amount when you submit all the required documents with your application form. When you apply through Emirates Loan, their professional gives you all the details of this loan’s required documents: 

• First of all, carefully fill out the application form, so there will be no chance of any error or mistake in mentioning your personal details. 
• To prove your identity, you will need to attach your valid passport, visa, ID, etc. 
• To prove the income per month, there is a requirement for bank statements for the last few months.