Finance House Personal Loan Eligibility - Check out the Eligibility Criteria for Finance House Personal Loan in UAE like Minimum Salary, Age, Document Required, Nationality, Salary Transfer & More.
Established in 1975, Dubai Islamic Bank (DIB) offers a wide range of excellent banking products such as personal finance and more. With DIB personal finance, you can get a high finance amount, a grace period of up to 120 days, and several more attractive features. read more
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Summary for Dubai Islamic Personal Loan | |
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Requirement of Minimum Salary | Income should be 8,000 AED |
Profit Rates Offering | Flat Interest rate vary 6% - 11% , Reducing Interest rate: 11% - 20% |
Maximum Amount for Loan | AED 4000K (Its fully depends on your nationality and loan types) |
Settlement Fees (If you submit Early) | 1% of the outstanding amount |
Arrangement Fees | Starting from AED 1050 to AED 2620 |
Tenure | 36 - 48 months |
Age Timing | 21 - 60 years for Expats and 65 years for UAE Residents |
Click here to Apply for Dubai Islamic Personal Loan |
Dubai Islamic Bank Personal Loan is offered to both- UAE Nationals & expatriates in order to meet their various personal requirements in the times of need.
With a repayment tenor of maximum of 48 months, the Dubai Islamic Bank Personal Loan seekers can apply for a lucrative amount of AED 2 million (for expats) and AED 4 million (for UAE Nationals), depending on the DIB personal loan requirements. The loan is offered to both salary-transfer and non-salary transfer category, with a minimum salary requirement of AED 8,000.
Dubai Islamic Bank Personal Loan Interest rate starts from 11% to 21.99% per annum. The rate of interest is charged on reducing rate, where the interests get reduced with every installment paid by the borrower.
Feature | Availability |
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Early Settlement |
Yes (Fee: 1% of outstanding balance, AED 10,000 maximum ) |
Salary Transfer |
Not Mandatory |
Reducing Interest Rate (Profit Rate) |
From 11% to 21.99% per annum |
Tenor |
Up to 48 months |
Quick Approvals |
Yes |
Payment holiday or Deferment |
Yes |
First installment |
90 days maximum |
Below specified are the main features & benefits of the DIB personal loan:
The minimum requirements to avail Dubai Islamic Bank personal loan in UAE are given below:
The loan applicant has to furnish the following documents in order to avail Dubai Islamic Bank personal loan:
Loan EMI for Dubai Islamic Bank personal loan for expats or UAE Nationals is calculated at the time of loan agreement. However, the loan seekers can calculate this on their own using Dubai Islamic Bank Personal loan calculator available on the official website of the bank.
By providing certain information such as loan amount and tenor of repayment, one can easily get a rough idea on personal loan EMIs to be paid for a particular period. With this, those who are eligible in terms of Dubai Islamic Bank personal loan salary limit or other requirements, can apply for a hassle-free loan amount.
Ans: Dubai Islamic Bank Personal loan rate is competitive & is charged on the reducing balance method. However, the profit rate varies from 11% to 21.99%.
Ans: No. Both UAE nationals, as well as expatriates, can avail personal finance offered by Dubai Islamic Bank.
Ans: Yes, you need to pay from 1050 AED to 2620 AED as a processing fee for documentation & due diligence.
Ans: Yes, your monthly income should meet the eligibility criteria specified by the DIB in order to get your application successfully approved. You should be earning a minimum monthly income of AED 8,000.
Ans: UAE nationals can avail a finance amount of up to AED 4,000,000 and expatriates can avail a finance amount of a maximum of AED 2,000,000.
Ans: The maximum tenor repayment is up to 4 years or 48 months.
Ans: Yes, the facility of rescheduling personal finance is available with a fee of AED 262.50.
Ans: Yes, Dubai Islamic Bank Personal Finance is based on Shariah-compliant laws.
Ans: It is not mandatory to visit the Dubai Islamic Bank’s branch in order to apply for personal finance as you can apply for DIB personal loan online also.
Ans: Yes, the bank offers personal finance to those who do not have a salary transfer account with the bank.
Ans: The best way to apply for personal loan in Dubai Islamic bank is online. You can visit the official website of the bank and go to the personal finance section, calculate your loan EMI using online personal loan calculator and click on the ‘Apply Now’ option. This will lead you to a page where you will have to provide your personal information including name, address, contact details, monthly income and applicant category. Submit the details, and then the bank will review them and approve your personal loan accordingly.
Ans: Listed Company means the companies that are in the list of DIB Bank who have salary accounts with the bank. Every month, salary to their employees is transferred through DIB Bank.
Ans: The minimum salary requirement is AED 8,000.
Ans: The early settlement process is subject to bank’s terms and conditions. Kindly contact the bank regarding the same. You will have to pay a fee of 1% of the outstanding amount or AED 10,000 maximum as the early settlement fees.