Deem Finance is a leading financial institution in the UAE with a robust portfolio of offerings that is regulated by the Central Bank of the UAE. The institution’s dynamic product range, encompassing personal loans, credit cards, and corporate deposits among others, has garnered a wide customer base ...read more
Get personal loan at Lowest Interest Rate
This article will delve into one such offering, namely Deem Finance personal loan. From a comprehensive analysis of its distinct features and benefits to a clear explanation of its eligibility criteria and more, this article will provide an in-depth understanding of this financial instrument.
Deem Finance Personal Loans have become one of the most coveted personal loan options among UAE residents due to their extensive suite of benefits that cater to diverse financial needs. Let's examine these benefits in detail –
Prior to embarking on your journey to secure a Deem Finance Personal Loan, it's crucial to ensure that you meet the loan's eligibility criteria. This preemptive check will minimise the risk of immediate rejection of your loan application.
The basic eligibility requirements for a Deem Finance Personal Loan are as follows:
To ensure a smooth application process for a Deem Finance Personal Loan, you must keep the following documents readily available -
Important: The list of the required documents above contains the basic documents required. If any additional documents are necessary during the application process, Deem Finance will promptly inform you.
Tabled below is the schedule of fees and charges associated with Deem Finance Personal Loan -
|1% of the loan amount (Min. AED 500, Max. AED 2,500)
|This one-time fee is applicable at the time of personal loan booking. It equates to 0.95% of the loan amount + 5% VAT.
|Early Settlement Fee
|1.05% of the remaining principal balance (Max. AED 10,500)
|It is a one-time fee applicable for early settlement of the loan and equates to 1% of the remaining balance + 5% VAT.
|Loan Rescheduling Fee
|AED 105 per rescheduling request
|This fee is equivalent to AED 100 + 5% VAT.
|No Liability Certificate Fee
|AED 63 per certificate request
|This fee is equivalent to AED 60 + 5% VAT.
|Liability Letter Fee
|AED 63 per letter request
|Equivalent to AED 60 + 5% VAT
|Partial Payment Fees
|1.05% of the partial payment (Max. AED 10,000)
|This one-time fee is applicable for every partial prepayment on your personal loan. It equates to 1% of partial payment + 5% VAT.
|Loan Top-Up Fee
|1% of the loan amount (Min. AED 525, Max. AED 2,625)
|This one-time fee is applicable at the time of personal loan top-up booking. It equates to 0.95% of the loan amount + 5% VAT.
|Delayed Payment Penal Interest Charge
|2.1% of the delayed amount (Min. AED 52.5, Max. AED 210)
|This monthly recurring fee continues until the delayed amount is fully settled. It is calculated as 2% of the delayed amount + 5% VAT.
|Loan Cancellation Fee
|This is a one-time payment, equivalent to AED 100 + 5% VAT.
It's important to remember that these charges help maintain the operations and services offered by Deem Finance and may vary depending on the specific loan conditions agreed upon between the bank and the customer
Before applying for a Deem Finance Personal Loan, it's crucial to familiarise yourself with the terms and conditions associated with this financial product. This knowledge can help you manage your loan effectively and avoid potential complications.
Understanding your monthly repayment amount, also known as Equated Monthly Instalment (EMI), is essential when managing your Deem Finance personal loan. To help with this calculation, you can utilise online tools such as the personal loan calculator available on the official website of Policybazaar.ae.
Some of the features of the personal loan calculator of Policybazaar UAE are as follows -
Applying for a Deem Finance Personal Loan is a seamless process via the Policybazaar.ae platform. Here's a step-by-step guide -
Applying for a Deem Finance Personal Loan through Policybazaar.ae offers several benefits -
Take a look at the frequently asked questions given below for more quick facts regarding Deem Finance Personal Loans.
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Ans: The minimum monthly salary requirement to qualify for Deem Finance Personal Loan is AED 5,000. This is one of the basic eligibility criteria for securing a personal loan from Deem Finance.
Ans: No, Deem Finance does not require a mandatory salary transfer for you to be eligible for a personal loan.
Ans: You can use the personal loan calculator on Policybazaar.ae to calculate your EMI for Deem Finance Personal Loan. Simply enter the loan amount, interest rate, and loan duration into the calculator and hit 'calculate' to receive your estimated monthly instalments.
Ans: Several fees are associated with Deem Finance Personal Loan such as a processing fee, early settlement of loan fee, loan rescheduling fee, and delayed payment penal interest charge among others. It's important to know about these charges before applying for this loan.
Ans: To apply for a Deem Finance Personal Loan, you'll need to provide a valid Emirates ID, passport, and proof of income such as bank statements or payslips/salary certificate. Note that Deem Finance may request additional documents if required.
Ans: You can apply for a Deem Finance Personal Loan through Policybazaar.ea. Visit our official website, go to the personal loan section, and submit the lead form after filling it out. You will then be redirected to the personal loan quotes page, where you can filter and select Deem Finance Personal Loan and apply directly.