Emirates NBD Personal Loan for Expats & UAE Nationals

Personal Loan up to 8 times your Salary

Personal Loan in UAE
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

As one of the fastest-growing banks in UAE, Emirates NBD has established itself as a leading choice for UAE nationals and expatriates with a robust portfolio of offerings. It consistently demonstrates its commitment to innovative banking solutions that cater to the diverse needs of its customers. 

Apart from making a profound impact on the global digital banking industry, Emirates NBD has also been recognized as the 'Best Bank in the UAE' by the prestigious Euromoney Awards for Excellence for an impressive seven consecutive years. This speaks volumes about the bank's relentless pursuit of excellence in an ever-evolving financial landscape.

One of the bank's prominent offerings is the Emirates NBD personal loan. Available for UAE nationals and expatriates, this credit facility stands out with its competitive interest rates and an array of enticing benefits. 

Designed for the utmost flexibility, the Emirates NBD personal loan can be availed for a multitude of purposes - from funding large purchases and emergency expenses to covering the costs of weddings, home renovations, or education fees. It can even act as a catalyst for business expansion, thereby serving as a versatile financial tool that caters to varying financial needs.

Let’s take a closer look at all the key details of Emirates NBD personal loans for expats and UAE nationals.

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Features and Benefits of Emirates NBD Personal Loan for Expats and UAE Nationals

Curated below is the list of some of the general features and benefits of Emirates NBD personal loans for UAE nationals and expats – 

  • Seven-Day Return Option: To ensure customer satisfaction and decision-making confidence, Emirates NBD offers a seven-day return option. So if, for any reason, you're not fully satisfied with the loan terms or you find a better offer elsewhere, you can return the loan within seven days without penalties.
  • Free Zero Balance Account: With Emirates NBD personal loan, UAE nationals also receive a complimentary zero balance account. Thus, you can manage your finances without the obligation of maintaining a minimum account balance.
  • Waived First-Year Overdraft Fee: In a bid to support its customers' financial flexibility, Emirates NBD provides a free first-year setup on overdrafts (OD). This benefit can prove especially advantageous for those unexpected moments when expenses exceed account balances.
  • Option for Loan Deferment: Emirates NBD offers up to 2 non-consecutive deferments in a loan cycle, which means you can easily postpone your loan repayments twice during the loan tenure.
  • Extended Loan Tenure: Emirates NBD personal loans for UAE nationals offer a loan tenure of up to 48 months and an extended tenure of up to 60 months for Ministry of Defense employees. 
  • Increased Loan Eligibility with Additional Income Source: If you have an additional income source apart from your regular salary, Emirates NBD will take it into consideration while calculating your loan eligibility. This consideration could potentially increase the loan amount that you're eligible to borrow, which can provide you with additional financial backing when you need it the most.
  • Salary Transfer Required: Emirates NBD personal loans mandate salary transfers for UAE nationals and expatriates.
  • Credit Life Insurance: Insurance for your outstanding loan amount will be provided to cover you and your family in case of any unfortunate circumstances.
  • Personal Loan Calculator: You can use the Emirates NBD personal loan calculator available on the official website of the bank to compute the estimated monthly instalments on your loan.
  • Currency: Once the loan is approved, the funds will be disbursed in the Arab Emirates Dirham currency.
  • Phone Banking: Emirates NBD provides a phone-banking facility to its customers. By using it, you can connect with the bank at any time and have your queries related to personal loans addressed.
  • AECB Score: You can enjoy lucrative benefits with your loan if you have an excellent aecb credit score. Some key benefits include attractive interest rates, faster processing, minimal paperwork, high finance amounts, and credit limits.
  • No Guarantor Required: To avail of Emirates NBD personal loan, no collateral or guarantor is required up to the loan amount equivalent to AED 200K.
  • Top-Up Personal Loan Facility: Both expats and UAE nationals have the provision of topping up their personal loans. The notable benefit here is that no minimum monthly instalment payment on the current loan is required to avail of this facility. 
  • Transferring Loan from Another Institution: You can transfer your personal loan from any reputed institution to Emirates NBD and take advantage of consolidating multiple debts into one easy monthly payment.
  • First Year Free credit card with Rewards:  Customers who take out a personal loan are eligible for a first-year free credit card that offers eligible miles or points. As you keep spending, you can accrue rewards, which can then be redeemed for travel, shopping, or other benefits.
  • Personal Cash Loan: You can also obtain personal cash loan. The minimum amount is AED 60K and the maximum amount is AED 800K.
  • Processing Fee: No processing fee is applicable for UAE nationals. However, expats are required to pay 1% of the loan amounts towards processing fees with a cap of maximum AED 2500.
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Apart from the above-listed general benefits, UAE nationals and expatriates can also take advantage of the following features -

For Expatriates

  • Loan Amount: Expatriates can get an Emirates NBD personal loan with a loan amount of up to AED 2Million. 
  • First Payment Deferment Option: The bank allows borrowers to defer their first loan payment for up to 90days in both new and top-up personal loans. 
  • Interest Rates: The bank provides both fixed and reducing rate on personal loan. The fixed rate ranges between 3.03% to 8.72%, while the reducing rate starts from 5.69% and goes up to 15.99%. 

For UAE Nationals

  • Loan Amount: Emirates NBD provides UAE nationals with the opportunity to apply for personal loans up to AED 4 Million. This substantial amount can be extremely beneficial for those who are looking to finance large-scale expenses or investments, such as home renovations, wedding costs, or business expansions.
  • First Payment Deferment Option: The bank provides the option to defer the first payment for up to 120days. This feature gives you ample time to organise your finances before beginning the repayment process.
  • Interest Rate: Both fixed and reducing interest rates are applicable to Emirates NBD personal loans for UAE Nationals. The fixed interest rates start from 2.75%, while the reducing interest rate starts from 5.15%.

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Interest Rates for Emirates NBD Personal Loan for Expats andUAE Nationals

Tabled below are the interest rates applicable on Emirates NBD personal loans - 

Nationality Fixed Rate (per annum) Reducing Rate (per annum)
UAE Nationals 2.75% - 8.72% 5.15% - 15.99%
Expatriates 3.03% - 8.72% 5.69% - 15.99%

Eligibility Criteria of Emirates NBD Personal Loan for UAE Nationals and Expats

In this section, we will discuss the eligibility criteria for Emirates NBD personal loans for UAE nationals and expats – 

Particulars Emirates NBD Personal Loan Eligibility Criteria for UAE Nationals Emirates NBD Personal Loan Eligibility Criteria for Expats
Minimum Income AED 5,000 per month  AED 5,000 per month
Minimum Length of Service Not applicable Not applicable
Salary Transfer Required Required 
Listed and Non-Listed Companies Not mandatory Not mandatory
Minimum Age 21 Years 21 Years
Collateral Cheque Required if the loan amount is above AED 200K Required if the loan amount is above AED 200K
For Personal Cash Loans
Salary Transfer Minimum 3 salaries to be transferred to the bank Minimum 3 salaries to be transferred to the bank
Minimum Salary Required AED 6,000 if you are not a part of approved employer list AED 6,000 if you are not a part of approved employer list

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Documents Required for Emirates NBD Personal Loan for UAE Nationals and Expats

Keep the following stack of documents ready while applying for an Emirates NBD personal loan

Documents required by expatriates for new loans, transferring loans, or to avail of top-up loan facility:

  • Emirates ID
  • Updated security cheque
  • Valid salary certificate or salary transfer letter
  • DDS registration form (for new loan application)
  • Passport with resident visa page
  • Latest three months’ bank statements for a new loan - the bank may ask for six months’ statements if you apply for switching personal loan
  • Liability letter from the lending institution with which you have a current loan (in case of transferring loan)

Documents required by UAE nationals for new loans, transferring loans, or to avail of top-up loan facility:

  • Emirates ID
  • Updated security cheque
  • A valid copy of the passport with Idbara page
  • Latest salary transfer letter or salary certificate
  • Last three months' bank statements for a new loan. The bank may ask for up to six months' bank statements for transferring loans.
  • Liability letter from the bank of the existing loan (while transferring the loan)

Note: The submitted documents must be valid and up-to-date. The bank may ask for additional documents if required.

Fees and Charges Associated with Emirates NBD Personal Loan for UAE Nationals and Expatriates

Tabled below is the schedule of fees and charges associated with Emirates NBD personal loans for UAE nationals and expatriates – 

Description of Service Applicable Fees and Charges
New loan processing fee 1.05% of the loan amount   Minimum – AED 525   Maximum – AED 2,625
Top-up loan processing fee 1.05% of the incremental loan amount   Minimum - AED 525   Maximum - AED 2,625
Late payment charge AED 52.5
Instalment deferment fee AED 105
Early settlement fee 1.05% of the principal outstanding amount    Maximum - AED 10,500
Change in due date Free
Clearance letter  Free
Liability or no liability letter AED 52.5
Loan cancellation fee AED 52.5
Direct debit return charges Free
Rescheduling fee AED 262.5
Request for other letters Free
Advance monthly instalments (Up to 3 EMIs) Free
Overdraft
  • Overdraft against salary with a monthly reducing rate of 1.5% with an annual set-up fee of AED 210
  • Overdraft against fixed deposit with the monthly reducing rate of 0.40% at AED 210

Note: The above-stated fees include VAT and adhere to the UAE CB and Federal Tax Authority regulations. These charges can be changed at the discretion of the bank.

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Emirates NBD Personal Loan Calculator

Emirates NBD personal loan calculator is an automated online tool to ascertain how much will be your monthly outgo for instalments. This tool is quite easy to use - all you have to do is key in the loan amount and the loan repayment tenure to have the results displayed in a split second. 

Here are some of the key benefits of using the Emirates NBD personal calculator – 

  • Provides instant results
  • Easy to access
  • Saves time
  • Helps you in loan planning 
  • No need to provide any personal information or make complex calculations

You can use the personal loan calculator on the bank’s official website under the ‘Personal Loans’ section. Once you enter the values, the estimated equated monthly instalments will flash. The calculator uses the tentative interest rate of 5.99% per annum in the calculation process, which can vary as per the user.

How to Apply for an Emirates NBD Personal Loan for UAE Nationals & Expats?

The easiest way to send an application for your Emirates NBD personal loan is via Policybazaar UAE. With us, you can receive round-the-clock assistance from our customer support cell and in-house finance expert team at all stages of the application process.  

The other benefits of applying for an Emirates NBD personal loan from policybazaar.ae are – 

  • Detailed features, benefits, eligibility standards, and requisite documents are presented on a single platform
  • No hidden charges while applying for the loan
  • Quick application process 
  • Your transaction will be conducted on an encrypted platform that protects your information and also ensures the safety of each transaction
  • Our platform is easy to use and allows you to compare the best options without juggling multiple tabs
  • You can enjoy lucrative offers and benefits while applying for the loan
  • Our 24-by-7 customer team will provide you with real-time solutions for all your answers

Follow these steps to apply for an Emirates NBD personal loan via policybazaar.ae – 

  • Visit policybazaar.ae, the official website of Policybazaar UAE.
  • Select ‘Personal Loans in UAE' from the drop-down list of 'Banking Products’.
  • Enter the required details in the lead form such as your city of residence, full name, email address, and contact number.
  • Tap on the ‘Proceed’ button. You will then be required to select your nationality and monthly income.
  • Once submitted, you will be redirected to the ‘Personal Loan in UAE'quotes page.
  • Choose the Emirates NBD personal loan plan from the list and apply for the same.
  • One of our customer representatives will get in touch with you and help you with the remaining procedures.

Alternatively, you can head to the official website or mobile application of Emirates NBD and apply for a personal loan. You can even visit a bank branch in person and follow the prompted instructions given by a bank representative.

Things To Remember While Applying for Emirates NBD Personal Loan

Keep the following points in mind while applying for the Emirates NBD personal loan in UAE - 

  • Look carefully at all the paperwork to understand the costs and rules that come with the loan
  • If you fail to make the monthly payments on your loan, your account will go into arrears and you'll have to pay a late fee.
  • If you skip payments, it can harm your credit rating and may restrict your ability to get loans or financing in the future
  •  If you decide to refinance your loan or opt for payment delays, you might end up taking more time to clear the debt than before. Moreover, you may have to pay extra interest.

Terms & Conditions of Emirates NBD Personal Loan

Given below are the terms and conditions that you should adhere to while obtaining an Emirates NBD personal loan – 

You can secure an Emirates NBD personal loan if you commit and undertake as follows -  

  • Get a letter from your employer stating your monthly salary will be transferred to Emirates NBD throughout the loan tenure.
  • If the loan is against the personal guarantee, a duly filed and signed personal guarantee form approved by the bank should be submitted.
  • Interest on the personal loan is calculated on the daily balance of the unpaid and drawn loan amount from the withdrawal date based on the actual number of days lapsed and the calendar year to be added to the loan balance and paid in the form of monthly instalmentMentioned below are some commonly asked questions along with answers related to Emirates NBD personal loans for expatriates and UAE nationals. 

Take  a look at the frequently asked questions with answers to know more about Emirates NBD personal loan for expats and UAE nationals.

Frequently Asked Questions (FAQs)

Q1. Who can apply for the Emirates NBD personal loan?

Ans: Both UAE nationals and expats can apply for an Emirates NBD personal loan. The minimum salary requirement for both is AED 5,000 per month.

Q2. What is the maximum loan amount that can be availed with Emirates NBD personal loan?

Ans: For UAE nationals, the maximum loan amount is AED 4 Million. For expatriates, on the other hand, the loan amount can go up to AED 2 Million.

Q3. What is the loan repayment period?

Ans: The loan can be repaid over a tenure ranging from 12 months to 48 months. For employees of the Ministry of Defence, the loan period can be extended to 60 months (applicable only for UAE nationals).

Q4. Is salary transfer necessary for availing Emirates NBD personal loan?

Ans: Yes, salary transfer is required for both UAE nationals and expatriates to avail of the personal loan from Emirates NBD.

Q5. Does Emirates NBD personal loan offer any unique benefits?

Ans: Yes, some unique benefits include a seven-day return option, a free zero balance account, a first-year free credit card with rewards, waived first-year overdraft fee, and an option for loan deferment.

Q6. Are there any extra benefits for those with an excellent AECB credit score?

Ans: Yes, those with an excellent AECB credit score can enjoy benefits such as low-interest rates, faster processing, minimal paperwork, high finance amounts, and credit limits.

Q7. What documents are required for Emirates NBD personal loan application?

Ans: The documents required include Emirates ID, updated security cheque, valid salary certificate or salary transfer letter, passport with resident visa page (for expats), and bank statements.

Q8. What is the seven-day return option in Emirates NBD personal loan?

Ans: Emirates NBD offers a seven-day return option. This means if you're not fully satisfied with the loan terms or find a better offer elsewhere, you can return the loan within seven days without penalties.

Q9. Does Emirates NBD offer a Personal Loan Calculator?

Ans: Yes, Emirates NBD provides a personal loan calculator on its official website. With this tool, you can easily compute the estimated monthly installments on your loan.

Q10. What is the processing fee for new Emirates NBD personal loans or top-up loans?

Ans: Emirates NBD does not charge processing fee for personal loans from UAE nationals. However, expats are required to pay 1% of the loan amount as processing fee.

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