| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Emirates NBD - Personal Loan for Self Employed
|
Minimum Salary: AED 25,000 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 0.0% | Reducing Rate: 0.0% |
7-day Loan Return Option
Customers who are not satisfied after the personal loan is disbursed have the option to return the loan for free with a waiver of all the fees and charges accrued. Following are the conditions:
- Customer must notify the sales agent/bank within 7 calendar days.
- The loan proceeds credited in the customer's account will be available and not withdrawn from the account from disbursal date until loan return date.
- The loan amount credited in the customer's accounts will be available and offer will be valid only for fresh cases , without liability settlements (Not applicable on Top Up and take Over loans)
Features
- High loan amount up to AED 300,000
- Easy repayment options
- No collateral or guarantor required
- 100% cash without an end-use declaration
Documents Required
- 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
- Updated Security Cheque
- Credit Card Statements (Where applicable)
Eligibility
- Applicable to both UAE Nationals and Expatriates
- Minimum 6 months average balance: AED 25,000
- Minimum Length of Business: 2 years
- Maximum Tenor: 4 years
** 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
