Emirates NBD Personal Loan for Expats & UAE Nationals

As one of the UAE's fastest-growing banks, Emirates NBD is certainly among the top choices of UAE residents. It has played a pivotal role in the global digital banking industry and has been awarded the Best bank in the UAE's; for the seventh year in a row by Euromoney Awards for Excellence. 

Known for a wide array of financial solutions, the Emirates NBD personal loan is a top-notch credit facility available for UAE nationals and expatriates at competitive interest rates and a lucrative range of benefits. You can avail of Emirates NBD personal loans for large purchases, emergency expenses, wedding costs, home renovation, education fees, business expansion, and more.

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

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

• High Loan Amount: Emirates NBD provides high loan amounts on personal loans, which go up to AED 4 Million for UAE nationals and AED 2 million for expatriates living in the UAE.
• Loan Repayment Period: With their flexible repayment periods, you can easily repay your Emirates NBD personal loan in a tenure ranging from 12 months to 48 months. For employees of the Ministry of Defense, the loan period can be extended to 60 months (applicable only for UAE nationals).
• Attractive Interest Rates: You can avail of a loan at fixed or variable interest rates. Flat interest rates start from 3.03% per annum for expats and 2.55% per annum for UAE nationals.
• Salary Transfer Required: Emirates NBD personal loans mandate salary transfer for UAE nationals and expatriates.
• Approved and Non-Approved List of Employers: You can get a personal loan even if your employer is not listed with the Emirates NBD.
• Option for Loan Return: You can enjoy the loan return facility for 7 days after the disbursement of funds in case you feel that the loan is not provided as per your expectations or on non-favourable terms & conditions. 
• Loan Deferment: You can push back or defer your monthly loan instalments twice a year. The only condition here is that the deferment should not be in a row and must be non-consecutive.
• First EMI Payment: Emirates NBD personal loan allows you to defer the first monthly instalment payment for up to 90 days for UAE nationals and 45 days for expatriates.

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 with 6 months  of banking relationship with Emirates NBD	Required with 6 months of banking relationship with Emirates NBD
Listed and Non-Listed Companies	Not mandatory	Not mandatory
Minimum Age	21 Years	21 Years

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

Keep the following stack of documents ready while applying for 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 the monthly reducing rate of 1.50% with the 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. However, these charges can be changed at the discretion of the bank.

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. 

Some of the key benefits of using the Emirates NBD personal calculator are as follows – 

• 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. You will 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 given 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 every 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 Emirates NBD personal loan – 

• Visit policybazaar.ae, the official website of Policybazaar UAE
• Select Personal Loans in UAE's 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
• Our customer representative 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 or visit the bank in person and follow the prompted instructions given by a bank representative.

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 instalments.

Frequently Asked Questions (FAQs)