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The main services and products offered by the financial institution are personal loans, credit cards. Finance house personal loans are offered at interest rates starting from 12.99% and come with a minimum salary requirement of AED 5000. These services continue to lead the growth and profitability of the company. Apart from the various products and services, the company offers Finance House Personal Loan by the name of Executive Finance.
Finance House Personal Loan Interest Rates
The Finance House Personal Loan charges a low reducing interest rate starting at 12.99 % per annum.
Features and Benefits of Finance House Personal Loan
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
No
Introductory Offers
No
Phone Banking
Yes
Mentioned below are a few features and benefits of Finance House Personal Loan:
Salary Transfer
In order to apply for this executive finance, it is not necessary for the applicant to transfer their salary.
Interest Rate
Executive Finance by Finance House is available at an attractive rate of interest starting at 12.99% (reducing).
Credit Card
With this Finance House personal loan, the borrower receives a free for life credit card.
Repayment Tenure
The repayment for this Executive Finance can be made in easy monthly installments. The loan is available at a flexible tenure for repayment.
Availability
Executive Finance is available for both expatriates and the UAE nationals.
Documentation
The applicant can apply Finance House Personal Loan easily if they meet the eligibility criteria. The documentation process is hassle-free and simple.
Fast Approval
After the submission of all the required documents, it takes a maximum of one business day for the approval of the application (as per the applicable terms and conditions).
Grace Period
The borrower can avail a grace period of 30 days on their first installment.
Eligibility and Documents Required for Finance House Personal Loan
Eligibility Criteria
Category
Details
Age Criteria
Minimum- 21 years
Maximum- 60 years
Minimum Monthly Income
AED 5,000
Employment Eligibility
Service Duration- 6 months with current employer or confirmation of employment (whichever earlier) Should be a Salaried Individual Employed with a reputed organization
Residency
Expatriate or UAE National
Documents Required
Category
Details
ID/Address Proof
Valid Visa for UAE Residence for expats, Passport, & Emirates ID (original and copy)
Bank Statements
Recent 3 months’ statements of the salary transfer account or the account regularly banked (original)
Salary Proof
Salary certificate (current dated)
Other Documents
Direct Debit Authority (upon approval)
Finance House Personal Loan- Frequently Asked Questions
Q1. What is Executive Finance?
Ans: Executive Finance is a personal loan facility offered by Finance House for professional executives.
Q2. Is the interest rate charged on executive finance reducing or fixed?
Ans: The Finance House charges a reducing interest rate on executive finance.
Q3. Are self-employed individuals eligible for Finance House Personal Loans?
Ans: No. Self-employed individuals are not eligible for Finance House Personal Loans.
Q4. What is the tenor for Finance House Executive Finance?
Ans: The maximum tenor for Finance House Executive Finance is 36 months.
Q5. Is there any residency requirement?
Ans: Yes. The applicant should be a resident of the UAE having a valid UAE Visa.
Q6. Is there any amount restriction for Executive Finance?
Ans: The minimum amount is AED 10,000 and the maximum amount is AED 250,000.
Q7. Can I make an early settlement on my Finance House Personal Loan?
Ans: Yes. You can make an early settlement by paying an early settlement charge of 1% on the outstanding balance.
Q8. Do I have to pay any processing fee?
Ans: Yes. You will be charged a processing fee of 1% on the outstanding loan amount.
Q9. Do I get any grace period for my first installment?
Ans: Yes. You get a grace period of 30 days.
Q10- What should be my minimum salary to be eligible to apply for Finance House Personal Loan?
Ans: In order to apply for Executive Finance, your minimum salary should be 5,000 AED.
