Emirates NBD Personal Loan for Self- Employed Professionals & Individuals

Emirates NBD offers personal loan for self-employed professionals such as doctors, engineers, chartered accountants, and architects at reducing interest rates up to 18.99%. In addition to this, the bank offers personal loan for self-employed individuals for UAE nationals as well as expats with a maximum repayment period of 48 months. 

Features & Benefits

Feature

Availability

Salary Transfer

Not Required

Early settlement

Yes 1% of settlement amount

Cashback

No

Free Credit Card

Yes

Free Personalized Cheque Book

No

Free Insurance

Yes

Introductory Offers

No

Phone Banking

Yes

Given below are the key features and benefits of the Emirates NBD Personal Loan for Self-Employed Professionals: 

  • Loan Amount: The applicant can avail a high loan amount of a maximum of AED 300,000. 
  • Repayment Period: The borrower can enjoy a flexible tenor period of up to 48 months. 
  • Seven-Day Loan Return Facility: As per applicable terms and conditions, the borrower who is not completely satisfied after the disbursal of personal cash loan can return it without any charge (with all fees & charges waived off) under seven-day loan return policy. In order to avail this benefit, the borrower must inform the bank or sales agent within seven days.
  • Double Insurance Coverage: It provides insurance coverage to the ENBD personal loan In event of any unfortunate circumstances, the partner insurance company will pay the loan outstanding and provide an equivalent amount to the borrower’s next of kin.

Features & Benefits

Following are the top features & benefits of the Emirates NBD Personal Loan for Self-Employed Individuals: 

  • Loan Amount- The borrower can avail a high loan amount up to 300,000 AED. 
  • Repayment Options- The borrower can enjoy a flexible tenor period. 
  • End-Use Declaration- The borrower can avail 100 percent cash without end-use declaration
  • No Need of Guarantor/Collateral- There is no need for a guarantor/collateral for applying for ENBD personal loan.
  • Seven-Day Loan Return Facility- As per the applicable terms and conditions, the borrower who is   not completely satisfied after the disbursal of personal cash loan can return it without any charges (with all fees & charges waived off) under seven-day loan return policy. In order to avail this benefit, the borrower must inform the bank or sales agent within seven days.
  • Double Insurance Coverage- Double insurance provides insurance coverage to the Emirates NBD personal loan In event of any unfortunate circumstances, the partner insurance company will pay the loan outstanding and will provide an equivalent amount to the borrower’s next of kin. 

Eligibility & Documents Required

Eligibility 

Particulars

Self-Employed Professionals

Self-Employed Individuals

Who can Apply?

Doctors, engineers, chartered accountants, and architects

Expats as well as UAE nationals

Six Months Average balance (minimum)

AED 20,000

AED 25,000

Length of Business (minimum)

1 year

2 years

Maximum Tenor

4 years

4 years

Documents Required 

Particulars

Descriptions

Proof of Identity/Address

 

  • Original & copy of Emirates ID
  •  Idbara page of ‘UAE Nationals’ Passport Copy with Resident Visa Page Utility bill or ResidencyProof
  • Security Cheque (undated)
  •  Statements of a credit card (if applicable)

Salaried Individual

Bank Statement of the last 3 months Latest Salary Transfer letter

Self-employed Individual

  • Bank Statement of the last 6 months Power of Attorney
  • Trade License Memorandum of Association

Personal Loan to Minor

Attested copies of co-borrowers/guarantor’s Passport & Visa, Emirates ID, Trade License and Income Details

Note- If needed, additional documents may be required. 

Interest Charged on Emirates NBD Personal Loan for Self- Employed Professionals

The reducing interest rate for Emirates NBD personal loan for self-employed professionals starts from 18.99 percent.

Frequently Asked Questions

Q.1.  What happens in the event of the untimely death of an ENBD personal loan borrower? 

Ans:  ENBD personal loan borrower can avail insurance at a nominal charge. In the event of the untimely death of a borrower, the partner insurance company will pay the loan amount and will provide   an equivalent amount to the borrower’s next of kin.

Q.2.  What is a No liability letter? 

Ans:  A No liability letter is basically proof that the borrower has no active liabilities with the bank.

 

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