- Attractive reducing interest rates starting from 5.49% reducing or 2.9%
- Loan amounts up to AED 4,000,000
- No collateral or guarantor required
- Free Bank Account with no minimum balance requirement
- Easy process and simple documentation
- Valid Passport Copy with valid Resident Visa page
- UAE Nationals: Ibara 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)
- Salary should be transferred to Emirates NBD
- Minimum salary requirement of AED 5,000
- Customer's employer must be on Emirates NBD's Approved List Salaried Individual
- Latest 3 Months Bank statement
- Latest Salary Certificate / Salary Transfer Letter Self-Employed
- Latest 6 Months Bank statement
- Trade License
- MOA (Memorandum of Association)
- POA (Power of Attorney) Loan to minor
- Attested copies of guarantor/co borrowers Passport and Visa, Emirates ID, Trade License & Income Details
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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.