Deem Finance Personal Loan

Personal Loan up to 8 times your Salary

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Deem Finance offers a host of financial products among which the Deem Finance personal loan is widely popular. Its affordable installments allow the borrowers to breathe a little easy. Deem personal loan allows one to chase their dreams freely as it is light on one’s pocket and yet takes care of every financial need one has.

Out of the various products and services, Deem Finance personal loan is much sought after especially due to the facility of ‘Deem Credit Life Plus’ that protects the loan’s outstanding in case of an unfortunate accident or death. Deem Finance Personal Loan interest rates starting from 11% per annum and the flexible repayment period of 48 months makes it all the more appealing to the borrowers. Another attractive feature of this loan is that it does not require salary transfer and gets approved quickly within 2 days, thus proving to be a rewarding financial product.

Deem Finance Personal Loan Interest Rate

Deem Finance interest rates are charged at a reducing rate of interest which implies that the interest rate gets reduced with each installment made by the borrowers. This rate of interest can easily be calculated using the Deem personal loan calculator, which is a tool available online and is just a click away.

Let us have an overview of the Deem Finance personal loan interest rate for Expats and UAE nationals

Category Fixed Rate of Interest Reducing Rate of Interest Minimum Salary Required in AED Maximum Term of Deem Personal loan
Deem Finance personal loan for UAE Nationals 11.01 % 19.99 % 5,000 4 years
Deem Finance personal loan for Expats 11.01 % 19.99 % 5,000 4 years

*Interest rates mentioned above are subject to change as per bank’s discretion.

Please Note- The actual rate of interest that an applicant has to pay is calculated as per the credit evaluation and the risk profile of the applicant.

EMI Calculator

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How to calculate Deem Finance Personal Loan EMI?

When you decide to apply for a Dunia finance loan as Deem Finance personal loan was previously known, the applicants should keep some key elements in mind such as the Deem Finance personal loan interest rate, EMI, etc. The loan EMIs are installments that the borrower has to pay for their personal loan amount once Deem Finance Abu Dhabi or in the rest of UAE approves it. This loan EMI is calculated using the Deem Finance personal loan calculator at the time of signing the loan agreement. Borrowers should ideally calculate their EMIs even before applying for the loan using the Deem Finance loan calculator. These calculators calculate the monthly installments one has to pay, giving them a rough idea of the EMI to be paid for a certain amount of loan.

Eligibility Criteria and Documents Required for Deem Finance Personal Loan

Eligibility Criteria

Category

Details

Minimum Monthly Income

5,000 AED

Mode of Receiving Monthly Salary

Transfer to bank account

ID proofs

Must have Emirates ID

Documents Required for Deem Finance loan

Category

Details

ID/Address Proof

Valid Visa for UAE Residence, Passport, Emirates ID (copy), and Residence Proof

Bank Statement

Previous 3-6 months’ statements from Salary Transfer Account

Salary Proof

Income documents/ Pay slip (Recent)/ Salary Certificate

Other Documents

Credit card with recent statement (copy)

Features and Benefits of Deem Finance Personal Loan

Here are a few features and benefits of Deem Personal Loan:

Credit Life Plus

This embedded program by Deem Finance offers benefits to the borrower by protecting their loan’s outstanding in the unfortunate cases of total or permanent disability or even in the event of their unforeseen death. Their requests are handled on a priority basis with free account statements and round the clock assistance. This plan also focuses on provisions for repatriation because of death. Deem loan takes care of the repatriation expenses of the deceased to their country of origin.

Interest Rate

The applicants of Dunia personal loan as it was previously known as, can avail this personal loan at an attractive rate of interest starting at 19.99 % up to 39.99 percent per annum.

Flexible Repayment

The borrower can easily repay the loan through EMIs. Deem Personal Loan offers maximum repayment tenure of 48 months. Borrowers can take a breath of fresh air with Dunia bank personal loan’s flexible installments that keep your pockets safe. They can choose to repay their loan based on their requirements in 1, 2 , 3 or even 4 years.

No Salary Transfer

Deem Bank Dubai as well as the rest of UAE understands that it is your money and therefore you have the right to decide whether you pay your installments from the bank account with Deem Finance or any other account of your choice. For availing Deem personal loan, salary transfer to Deem Finance bank account is not compulsory.

Simple Application Process

The applicant can apply for personal loan through a hassle-free and simple application process that involves easy documentation at Deem Finance and Dunia Finance as it was called before. The borrower can complete his or her application online. Within a few seconds, Deem bank UAE lets the borrower know whether or not their application is approved.

Quick Approval

Upon the successful submission of the application form, (in case the applicant fulfills the eligibility criteria) their application gets approved within 2 business days (48 hours) at Deem Finance personal loan.

Direct Debit Facility

The borrower can pay their EMI automatically using the direct debit facility offered by the Deem Finance Bank.

How to apply for a Deem Finance Personal Loan?

Here is a step by step guide to apply for a Deem Finance personal loan in UAE:

Step1: Visit deem,io or the nearest branch to apply for a personal loan

Step2: Fill in the application form with your basic details like name, email address, mobile number, etc.

Step3: Provide information like the purpose for availing the loan, the amount to be borrowed, tenure of the loan, monthly income, etc.

Step4: Submit the required documents with Deem Finance

Step5: Wait for quick approval of your Deem Finance personal loan!

Deem Finance Branches

Deem bank UAE has 19 branches all over the country. Borrowers can get access to the bank’s services 24 * 7 at Deem Finance customer care, email address apart from going to the branch directly as well as Deem online. Given below are the details of some of its branches across the UAE:

Deem Abu Dhabi

The Deem Finance Abu Dhabi office is in a central location for customer’s ease. Customers can also use the Deem contact number for their services.

Address: Deem Finance L.L.C.

Awad Al Otaiba Building (Al Reem Plaza), P.O. Box 44005, Abu Dhabi, UAE

Deem Customer Care: 600-525550

Deem Dubai

The Deem Finance office in Dubai  is in a prime location for customer’s comfort.

Address: Building 5, Dubai Outsource Zone - Dubai - United Arab Emirates

Deem Finance Customer Care: 600 525550

Deem Finance Sharjah

The Deem Finance office in Sharjah is in a prime location for customer’s easy access. Customer’s can also use the Deem Finance customer care number for their services.

Address: Sahara Mall Shop No. 104, first floor - Al Nahda St - Sharjah - United Arab Emirates

Deem  Finance Contact Number: 600 525550

Frequently Asked Questions on Deem Finance Personal Loan

Q 1- How long will it take for my personal loan application to get approved?

Ans: As per the applicable terms and conditions, your application for Deem Finance Personal Loan gets approved quickly within 2 days.

Q 2- Is salary transfer compulsory for applying for Deem personal loan?

Ans: No. Transferring your salary is not compulsory for applying for this loan.

Q 3- Do I need to submit my residence proof for the documentation of this personal loan?

Ans: Yes, You need to submit residence proof to apply for this personal loan.

Q 4- What are the ways to apply for Deem Finance personal loan?

Ans: You can apply for Deem Finance personal loan by visiting the nearest branch, through phone banking or through online banking.

Q 5- I am an employee and I wish to apply for this personal loan. What all documents do I need to submit?

Ans: You must submit a duly filled application form, bank statements of 3-6 months, recent income statements or pay slips. Apart from these, you need to have a copy of a valid Visa for UAE Residence, Passport, and Emirates ID. You also need to submit a valid residence proof, copy of your credit card along with the recent card statement.

Q 6- Can I settle my Deem Personal Loan early?

Ans: Yes, You can opt for early settlement of your Deem Personal Loan. However, you will have to pay an early settlement charge of 1.05 percent of the remaining balance (10,000 AED maximum).

Q 7- What is the processing fee charged for Deem personal loan?

Ans: You have to pay a processing fee equal to 1 percent of the loan amount, where AED 500 is the minimum fee and AED 2500 is the maximum fee.

Q 8- Can I reschedule my personal loan?

Ans: Yes, You can reschedule your loan by paying a loan rescheduling charge of AED 105.

Q 9- Can I cancel my personal loan?

Ans: Yes, You can cancel your personal loan. However, you will have to pay a loan cancellation charge of AED 105.

Q 10- Can I use the top-up facility on this Deem Finance personal loan?

Ans: Yes. You can use the loan top-up facility by paying a charge of 1 percent of the amount of loan, where 500 is the minimum fee and AED 2500 is the maximum fee.

Q 11- Can I apply for this personal loan if I receive my salary by cheque or by cash?

Ans: No, You can only opt for this Deem Personal Loan if you get your salary every month in your bank account.

Q 12- Can borrowers use Deem loan calculator UAE to calculate EMI of the personal loan?

Ans: Yes, borrowers can use the Dunia Finance loan calculator as it was known previously to calculate their loan EMIs.

Q 13- Are bank statements required to avail the Dunia finance personal loan?

Ans: Yes, borrowers need to provide 3 months bank statement to avail of a Deem Finance loan.

Q 14- What does the Deem Finance personal loan interest rate depend on?

Ans: According to the Deem Finance personal loan review, the real interest rate that customers will be eligible for will depend on a holistic evaluation of their credit report as well as the customer risk profile.