Personal Loans for UAE Nationals in Dubai from EIB
Profit Rate: 3.63%
Tenor: 48 months
Eligibility: Minimum salary of AED 5000
Arrangement fee: 1% of loan amount with a minimum of AED 500 and maximum of AED 2500
Early settlement fee: 1% of outstanding amount
Late payment fee: AED 200
Loan cancellation fee: AED 100
Salary transfer: No; Minimum salary for non-transfer loan is AED 12,000
Takaful/Insurance fee: 0.75% of the loan amount
Personal Loans for UAE Nationals from EIB in Dubai
Up to AED 3 million is financed as personal loan for UAE Nationals by Emirates Islamic Bank or EIB. The EIB personal loans are characterized by the following features:
Certificate of Takaful or insurance cover
Credit card with full exemption of service fee for the first year of the loan
Nominal processing fees
EIB offers Shari’a-inspired financial products and services to its customers ranging from individuals to large corporations. The Murabaha arrangement governs the financial loan policy of the Emirates Islamic Bank.
The following eligibility criteria apply to UAE Nationals:
If you don’t transfer your salary to EIB, the minimum salary eligibility is AED 12,000 as against AED 5000 for salary transfer loan
A minimum of one month’s employment
Should be 21 years of age
Not more than 65 years when the loan period is completed
Completed application form
Copy of passport and UAE residence visa
Bank statement for the last 3 months
Salary certificate along with salary transfer letter where necessary
EIB UAE Nationals Personal Loan in Dubai
Emirates Islamic Bank or EIB is driven by its commitment to the principles of the Shari’a Board, so works hand in hand with its customers, both UAE Nationals and expatriates, to serve them better by offering a varied yet beneficial finance package.
Every individual need of the EIB customer is fulfilled facilitating the realization of the Bank’s objectives. EIB delivers quick and efficient financial solutions to its customers’ requirements be it a start-up, small and medium business or large corporation.
Dubai – The Financial Hub
The financial sector has seen a great growth in the last few decades when the dependence on oil as the single resource believed to be responsible for the commercial success of the UAE decreased and has been the backbone of the country ever since. Dubai is also the main hub for gold jewelry among the countries of the Middle East.
To avail of a personal loan in Dubai from EIB, fill in the form on this page and a representative will soon contact you to help you with the loan process.