| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Commercial Bank International - Loans for Healthcare Professionals
|
Minimum Salary: AED 8,000 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 6.0% | Reducing Rate: 10.8% |
Personal Loan for Healthcare Professionals offers a flexible lending facility to licensed medical professionals employed in the medical/healthcare sector
Features
- Competitive interest rates
- Borrow up to 20x your salary
- Insurance coverage provided in case of any unforeseen circumstances
- Quick and easy application and processing
Documents Required
- Completed application form
- Copy of valid passport with valid UAE residence visa for expatriates (original required for verification)
- Copy of a valid Emirates ID
- Last 6 months bank statements
- Salary transfer letter.
- Liability or clearance letter (for buyout cases)
- Original salary certificate
Eligibility
- Salary transfer to CBI is mandatory to be eligible for this loan
- Only who is a licensed healthcare professional employed in an establishment that provides medical /healthcare facilities in the UAE can apply for this loan
- You can apply for a maximum loan of AED 500,000
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
