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Emirates NBD Personal Loan

Personal Loan up to 8 times your Salary

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Emirates NBD is among the most popular and reliable financial institutions that render a wide array of services all across the UAE. Emirates NBD Bank Personal loan is the Emirates NBD personal loan is one of the key services offered by the bank. As ENBD personal loan interest rate starting from 2.55 % for a period of 48 months. This personal finance solution is especially lucrative due to a minimum salary requirement of AED 5,000 and a maximum loan amount of up to AED 2 million for expatriates and AED 4 million for UAE nationals.

Emirates NBD Personal Loan Interest Rate

Below is Emirates NBD NBD Personal Loan Interest Rate with the Maximum loan amount of different loans products:

 Category Max. Loan Amount in AED Tenor Reducing Interest Rate
Emirates NBD salary transfer loans 2 million Up to 48 months Starting from 5.49%
Emirates NBD Personal loan for new to employment or new to the country 600,000 Up to 48 months Starting from 5.24%
Emirates NBD personal cash loan 500,000 Up to 48 months Starting from 8.99 %
Emirates NBD personal loan without salary transfer 500,000 Up to 48 months Starting from 14.99%
Emirates NBD personal loan for self-employed professionals 300,000 Up to 48 months Starting from 18.99%
Personal loan for self-employed Individuals 300,000 Up to 48 months Starting from19.99 %

*Interest Rates are subject to change at any time.

Emirates NBD Salary Transfer Personal Loans

Among the plethora of personal loan products offered by Emirates NBD, salary transfer personal loans are very popular and Emirates NBD salary transfer personal loans available at interest rates starting from 5.49% with maximum loan amounts up to AED 2 million. 

Emirates NBD Personal loans without Salary Transfer

Emirates NBD personal loans without salary transfer give you the opportunity and financial assistance required to accomplish all your goals in life. Offered at an NBD bank personal loan interest rate of 14.99% with maximum loan amounts up to AED 500,000, personal loans without salary transfer have a repayment tenor of 48 months.

Emirates NBD Personal Loan for Expats

It is a well-known fact that UAE is home to the largest expat population in the world. With approximately 80% of the population in the UAE being expats. In order to cater to the financial needs of expatriates, Emirates NBD offers Emirates NBD personal loans especially designed and developed for expats at attractive rates of interest with a maximum loan amount of AED 2 million. 

Emirates NBD Personal Loan for UAE Nationals

Emirates NBD not only renders services to expatriates but also to Emirati customers. In fact, Emirati customers get higher loan amounts up to AED 4 million, Also, the Emirates NBD bank personal loan interest rate is lower for the nationals in comparison to expats.

Emirates NBD Personal Loan Eligibility

The Emirates NBD personal loan eligibility criteria for UAE nationals and expats are mentioned below: 

  1. Applicants should be within the age range of 21 to 65 years
  2. The Emirates NBD personal loan salary requirements are limited to AED 5,000
  3. For a salary transfer loan, the applicant has to transfer minimum of 6 salaries within the first 6 months of the loan tenor

Emirates NBD Personal Loan Documents Requirements

The Emirates NBD personal loan requirements include the following documents for availing an ENBD personal loan :

  • Application Form: The duly-filled personal loan application form can be submitted online or at any of the Emirates NBD branches across the UAE.
  • Documents: The NBD personal loan requirements (for ID and address proof) include the applicant’s Emirates ID, passport, UAE visa (for expats only), Idbara page (for UAE nationals only) and utility bills with the applicant’s name.
  • Income Proof: The applicant is required to submit income proof by providing three latest months of their bank statement and a Salary Transfer Certificate issued by their employer.
  • Trade License: The self-employed applicant will have to present 6 months of bank statement and submit a valid Trade License. 

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Features and Benefits of ENBD Personal Loans

Feature

Availability

Without Salary Transfer

Yes

Early settlement

Yes 1% of settlement amount

Cashback

Yes

Free Credit Card

Yes

Free Personalized Cheque Book

Yes

Free Insurance

Yes

Introductory Offers

Yes

Phone Banking

Yes

The various features and benefits of Emirates NBD personal loan are as follows:

  1. Borrowers get access to high loan amounts equivalent to AED 4 million for UAE nationals and AED 2 million for expatriates in UAE.
  2. Low interest rates of 2.55% per annum for UAE nationals and 2.87% per annum for expats.
  3. Quick loan approval with minimum documentation required for availing the loan.
  4. No salary transfer required to avail a loan from Emirates NBD.
  5. No minimum length of service required.
  6. Zero processing fee.
  7. 20% insurance fee applicable on expats while there is none for UAE nationals.
  8. Maximum loan tenor of up to 48 months.
  9. The first EMI repayment for UAE nationals is to be done 90 days and for expats it is equal to 75 days. 
  10. Emirates NBD offers personal loans without the need for submitting bank statements, making it a hassle-free process.
  11. No need for your employer to be listed with Emirates NBD for loan approval and disbursement.
  12. Easy loan cancellation within 7 days of loan disbursement.
  13. Double insurance policy to the loan borrower in the event of the demise of the loan borrower. The insurance policy offers the full outstanding loan amount to the loan borrower’s family members.

Emirates NBD Personal Loan Calculator

Emirates NBD Personal loan EMI calculator is an online tool that helps the loan borrower to calculate the loan EMI. The Emirates NBD personal loan calculator might be defined as simulation software that functions by processing and analyzing different algorithms working simultaneously to provide a conclusion. ENBD personal loan calculator helps the loan seeker to get a fair idea on the monthly outgo against a loan. To calculate the EMI, one will have to provide certain information such as loan amount, tenor, rate of Interest etc. After providing the necessary information, the Emirates NBD Personal loan calculator will suggest the EMI to be paid.

As the Emirates NBD personal loan calculator is an automated algorithm-based software it reduces the chances of human error in making the calculations of EMI. 

FAQ'S about Emirates NBD Personal Loan

Q.1.  What is a loan deferment? 

Ans: Loan deferment is one of the many features offered by Emirates NBD personal loan. A loan deferment allows a loan holder to postpone a monthly installment, with the promise to pay it within a stipulated number of days. This can be availed on twice in a year, in non-consecutive months only.

Q.2.  How can I calculate my Emirates NBD personal loan installment? 

Ans: You can calculate your personal loan ENBD EMIs using the Emirates NBD personal loan EMI calculator. The Emirates NBD personal loan interest rate calculator can be found on the official website of ENBD, and can be accessed free of cost.

Q.3.  What is the salary transfer requirement for an Emirates NBD personal loan? 

Ans: The Emirates NBD bank personal loan requirements include up to 6 salary transfers within the first 6 months of the loan tenor and a mandated Salary Transfer Certificate.

Q.4.  What is a No Liability Letter? 

Ans: On closing a personal loan, loan borrows may request for a No Liability Letter that clears them of any liability towards the personal loan. This letter is usually required when leaving the UAE or when availing of a fresh loan and it can be availed for AED 50.

Q.5.  What are the late payment charges for personal loans offered by ENBD?

Ans: NBD bank personal loan charges a late payment fee of AED 100 per instance. Repeated late payments can poorly impact the ENBD personal loan holder’s credit score and prevent them from availing of personal loan in the future.

Q.6.  Can I avail Emirates NBD personal loan without salary transfer? 

Ans: Even if you don’t have a salary transfer account with emirates, you can avail of Emirates NBD personal loan without salary transfer.

Q.7.  What is Emirates NBD personal loan minimum salary criterion? 

Ans: The Emirates NBD personal loan offer is granted to anybody with a minimum salary of  AED 5000. 

Q.8.  What are the documents required to avail a personal loan from Emirates NBD? 

Ans: Emirates NBD personal loan documents requirement include: Application form, Emirates ID, Passport, UAE Visa (for expats), Income proof, trade certificate, salary transfer certificate etc.

Q.9.  What is the rate of interest for emirates' money personal loan? 

Ans: Emirates NBD personal loan interest rate is charged on reducing rate, which means the rate of interest reduces every time the borrower pays an installment.