CBD Personal Loan

The Commercial Bank of Dubai (CBD) has over 25  branches and hundreds of ATMs across the Middle East.

Commercial Bank of  Dubai personal loans are offered by keeping the financial needs of the UAE residents in mind. From household appliances and travel expenses to education bills and more, the Commercial Bank personal loan allows loan borrowers to avail of immediate funding for much-needed financial crunch at an affordable interest rate of 5.50% for a flexible tenure of up to 4 years.

CBD Personal Loan

Commercial Bank Personal Loan Interest Rates

The Commercial Bank personal loan rates and other details are mentioned in the table below: 

Commercial Bank of Dubai Personal Loan

 Category

Maximum Loan Amount Tenor Interest Rate Type of Interest Salary Transfer

For UAE Nationals

AED 3 Million

Up to 48 Months

5.50% p.a.

Reducing

Required

For Expatriates

AED 750,000

Up to 48 Months

5.50% p.a.

Reducing

Required

(Interest rates are subject to change)

Features and Benefits of Commercial Bank Personal Loan

Feature Availability

Early Settlement Fee

Yes, 1% of the settlement amount

Reducing Interest Rate

5.50%

Free Debit Card

Yes

Current Account

Yes, with the waiver of minimum balance requirement

Deferment

Yes

Phone Banking

Yes

Salary Transfer

Yes

Some of the superb Commercial Bank of Dubai personal loan features and benefits are as follows:

Loan Amount

The Commercial Bank of Dubai personal loan offers a large loan amount of AED 3 million for UAE Nationals and up to AED 750,000 for expatriates. This loan amount can be availed of through the online Commercial Bank personal loan application quickly and securely.

Tenor

Commercial Bank of Dubai personal loans allow loan borrowers to repay the borrowed amount over a  maximum period of 48 months. The length of the tenor depends on the borrowed amount.

Top-Up Loan

If needed, the loan borrower may also avail of top-up Commercial Bank of  Dubai personal loans. It allows the borrower to add-on to the existing loan amount at preferential interest rates and tenors. Additionally, borrowers can also transfer a personal loan from other banks (with or without the loan amount top-up).

Debt Consolidation

The Commercial Bank of Dubai personal loan enables the loan borrower to include their active loan(s) (if any) into one consolidated loan. Not only does this make it easier for loan borrower to manage their monthly installments, but it also allows them to avail of the highly attractive Commercial Bank of Dubai personal loan interest rates.

Additional Benefits

The Commercial Bank of Dubai personal loan borrower gets a free CBD debit card along with a current account with the required minimum balance waived off. Additionally, they can  defer a specified number of loan installments. Loan deferment is highly useful in case of unforeseen events that leave the loan holder unable to repay their installment.

Commercial Bank of Dubai Personal Loan Eligibility and Documents Required

Eligibility Criteria

There are three major eligibility criteria for the Commercial Bank personal loan, which are as follows: 

Age Criterion

Emirati applicant of a Commercial Bank of Dubai personal loan must be between 21 years to  65  years of age, while expat applicant must be between 21 years to 60 years of age.

Income Criterion

Commercial Bank of Dubai personal loans mandate that the applicant should earn a minimum monthly income of AED 8,000. This income requirement increases as the requested loan amount increases.

Work Experience

CBD maintains a list of approved employers in the UAE. The applicant is required to show a minimum of 6 months of experience with any of the listed employers for the approval of their Commercial Bank of Dubai personal loan application.

Documents Required

The Commercial Bank of Dubai personal loan application process requires submission of the following documents: 

  1. The applicant can submit the duly-filled Commercial Bank of Dubai personal loan application  form
  2. The expat applicant must provide their Emirates ID, passport and UAE visa are in order to complete the application process. The Emirati Commercial Bank of Dubai personal loan applicant must provide their Emirates ID
  3. The loan applicant will be required to submit the latest bank statements for 3
  4. The Commercial Bank personal loans applicants must maintain salary transfers with CBD. The applicant will be asked to submit a salary transfer certificate at the time of applying for the 

FAQs

Q1- Can I apply for a Commercial Bank of Dubai personal loan for a non-listed company?

Ans: While Commercial Bank of Dubai personal loan applicants are required to make a salary transfer and submit a salary transfer letter, CBD may make an exception for confirmed employees of reputable organizations. You can get in touch with the Commercial Bank of Dubai personal loan staff for more information.

Q2- How can I calculate my Commercial Bank personal loan EMI? 

Ans: You can calculate your EMI by using the Commercial Bank personal loan calculator. The Commercial Bank personal loan calculator is available for free on the CBD website.

Q3- Can I apply for a Commercial Bank personal loan if I have one active loan? 

Ans: Yes, you can even consolidate your loan with the Commerical Bank of Dubai personal loan in order to manage loan installments easily and avail of the low Commercial Bank personal loan interest rates.

Q4- What is the CBD top-up loan? 

Ans: Commerical Bank of Dubai personal loan applicants can avail of a second renewable loan after repaying a certain number of monthly installments on their current CBD loan. This  Commercial  Bank personal loan is known as a top-up loan. Generally, it comes with better tenors and Commercial Bank personal loan rates as a result of continued loyalty to the bank.

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