Compare and find the best personal loan rates in UAE. We'll show you everything you need to know about getting the best rates on a personal loan.
Established in 1975, Dubai Islamic Bank (DIB) has been a keystone in the UAE financial industry, offering a plethora of financial products ranging from credit cards and bank accounts to a diverse range of loan products.
Get personal loan at Lowest Interest Rate
Amidst this wide spectrum of offerings, the Dubai Islamic Bank Personal Loan has emerged as a well-admired choice for residents of the UAE, earning commendations for its flexibility, comprehensiveness, and more.
This article aims to uncover the basics of the Dubai Islamic Bank Personal Loan, providing you with an in-depth understanding of its various features, the eligibility criteria, and the required documents needed to secure this loan.
Without further ado, let’s take a look at the notable features of Dubai Islamic Bank personal loan -
Before applying for the Dubai Islamic Bank Personal Loan, it's important to ensure that you meet the eligibility criteria. This preliminary step is crucial in saving both time and effort and avoiding potential disappointments or credit rating impacts due to rejected applications. Fulfilling the eligibility criteria significantly increases your chances of loan approval and ensures a smoother application process.
Let’s take a look at the eligibility criteria for Dubai Islamic Bank Personal Loan -
In order to streamline the process of applying for a Dubai Islamic Bank Personal Loan, it's crucial to have the necessary documentation at hand. Preparing these documents in advance can expedite the processing time for your loan application.
Important: The bank may request additional documents for verification purposes. Prompt submission of these documents within the given timeframe is advised to avoid any potential delays or complications.
Navigating the financial landscape can sometimes feel like a challenging task, especially when considering loan products. To help simplify this process, Dubai Islamic Bank (DIB) offers a free automated tool known as the Dubai Islamic Bank Personal Loan Calculator.
This valuable resource helps potential borrowers estimate their monthly loan instalments based on specific input parameters and can be accessed on the bank's official website.
To utilise this intuitive tool, you need to enter your desired loan amount and the chosen loan tenure. Once you enter these values, the calculator will automatically compute the estimated monthly instalments. With this, you can have a clear understanding of what the repayment schedule might look like for a particular loan, which can help you make well-informed decisions.
The Dubai Islamic Bank Personal Loan Calculator serves multiple useful purposes. Here are a few ways how this tool can be beneficial -
Apart from DIB's calculator tool, you can also use the Personal Loan Calculator available on the official website of Policybazaar UAE. This is another trusted platform providing the same facility, wherein you can seamlessly calculate your estimated monthly instalments for a personal loan.
|Dubai Islamic Bank Personal Loan Calculator|
Tabled below are the fees and charges associated with Dubai Islamic Bank Personal Loan –
|Fee Category||Fee Amount|
|Diligence and documentation fee||1.05% of the loan amount
|Undertaking to Donate Due to Late Payment||Up to AED 210|
|Early Settlement from Same Bank Finance||1.05% or Maximum – AED 10,000|
|Early Settlement from Other Bank Finance||1.05% or Max AED 10,000|
|Personal Finance Rescheduling Fee||AED 262.5|
|Instalment Deferment Processing Charges||AED 105|
*Note: The applicable fees may vary based on the financing frequency and specific loan terms. Please contact the bank for exact fee details.
With the policybazaar.ae platform, the process of applying for a Dubai Islamic Bank Personal Loan becomes quite a seamless one. This intuitive and user-friendly platform guides you through the process in just a few straightforward steps so that applying for a loan is a stress-free experience.
To begin, visit the official website of Policybazaar UAE and navigate to the 'Personal Loan' section, where you'll find a lead form. Fill out this form with the necessary details and submit it. After this, you'll be redirected to a page containing personal loan quotes. At this point, you can use the filter option to sort and select the Dubai Islamic Bank Personal Loan. Once you find a relevant DIB personal loan, you can apply for it directly.
Here are the advantages of applying for a Dubai Islamic Bank Personal Loan through the Policybazaar.ae platform-
Take a look at the FAQ section next to know more about the Dubai Islamic Bank personal loan.
Ans: The Dubai Islamic Bank Personal Loan is a financial product that offers funds to eligible individuals based on certain criteria. This loan is designed in accordance with Shariah-compliant principles, making it a preferred choice among UAE residents.
Ans: For UAE nationals, the maximum Dubai Islamic Bank Personal Loan amount is AED 4 million. For expatriates, the maximum loan amount is AED 2 million.
Ans: The loan operates on a reducing profit rate, which starts from 5.99% per annum and goes up to 21.99% per annum.
Ans: No, transferring your salary to Dubai Islamic Bank is not a mandatory requirement to apply for this personal loan.
Ans: The Dubai Islamic Bank Personal Loan Calculator is a free tool that helps potential borrowers estimate their monthly loan instalments. It requires the input of the desired loan amount and the loan tenure to provide an estimated monthly repayment amount. This tool is beneficial for financial planning, comparative analysis, cost analysis, budgeting, and saving time.
Ans: You can apply for this loan on the Policybazaar UAE platform. For this, visit policybazaar.ae, navigate to the 'Personal Loan' section, fill out the lead form, and submit it. You can then use the filter option to select the Dubai Islamic Bank Personal Loan and apply directly.
Ans: You will need to provide a copy of your passport (with residence visa for expatriates), Emirates ID, a salary and end-of-service benefits certificate from your employer, and a statement of account for a minimum of 3 months if your salary is transferred to a different bank. If you're self-employed, you'll need to provide 6 months' worth of bank statements and a copy of your valid trade licence. An Al Etihad Credit Bureau (AECB) consent form is also required.