| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
NBF- Personal Loan
|
Minimum Salary: AED 5,000 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 4 Years | Flat Rate: 3.36% | Reducing Rate: 4.99% |
Features
- Competitive interest rates
- Flexible repayment terms
- Loan amounts of up to 20 times your salary
- Loan tenors of up to 48 months
Documents Required
- A copy of your valid passport
- A copy of your valid residency visa (for expatriates)
- A copy of your current dated salary certificate (less than 30 days old)
- Original bank statements dating back the last six months
Additional Information
** 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
