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Do You Know Noor Bank Provide the Best Personal Loan at Low Interest Rate?

Do You Know Noor Bank Provide the Best Personal Loan at Low Interest Rate?
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Personal loan in Dubai, UAE today is the preferred means of short term credit. Personal loans are available for salaried as well as self-employed individuals to meet their various general or personal needs such as home renovation, higher education, wedding, travel, medical emergency, etc.

Well, personal loans are unsecured loans which mean the borrower doesn’t need to provide any guarantor or collateral in order to procure one and can be availed easily without any security. This is one of the main reasons why the personal loan in Dubai has a high interest rate (profit rate in the case of Islamic Bank) as compared to other secured loan options. That’s why most of the people get hesitant when it comes to opting for a personal loan due to their high interest or profit rate.

But do you know that there is one bank in the UAE that offers personal loan at attractive profit rate? Well, it is none other than Noor Bank. Yes, you read it right.  Noor bank offers personal loan at the competitive profit rate when compared to other banks in the UAE. Noor bank’s personal loan comes with a profit rate as low as 3.49 percent. That is amazingly low. Not only the bank offers personal loan at an attractive profit rates but also it enables its borrower to enjoy flexible repayment period. Apart from this, there are several other reasons as to why you should opt for a Noor bank personal loan. Here are the reasons:

  • If you are an expat or UAE national and you’re seeking for a personal loan in Dubai to fulfill your personal needs like wedding, higher education, home renovation then you can opt for Noor Bank personal finance. The bank offers ‘Shariah compliant personal loan’ for both expatriates as well as UAE nationals that can be availed very easily.
  • You have an option to consolidate your existing finances with the use of personal loan offered by the Noor Bank.
  • You can avail a finance amount of a maximum of 20 salary multiples.
  • The finance will be disbursed into the bank account within just 30 minutes of applying for the Noor Bank personal loan.
  • You can enjoy the flexible and convenient repayment period of up to 4 years.
  • You can avail Takaful coverage along with the Noor Bank personal finance.
  • Noor bank offers ‘free for life credit card’ along with the Noor Bank Personal loan. The best thing is that the credit card comes with an array of benefits worth AED 50,000.
  • Noor bank offers a variety of product variants to meet the several personal needs of its borrower – be it home renovation, higher education, emergency funds, and much more. Following are the different product variants:
    • Fresh personal loan
    • Second Finance
    • Top-up of finance that is already exists
    • Buyout of existing loan with some another bank

Eligibility Criteria for Noor Bank Personal Loan

You can easily avail the Noor Bank personal loan as there are some generic conditions which are taken under consideration. Following are the factors that you meet by the applicant in order to be eligible for the Noor Bank personal finance:

  • The minimum age of the applicant should be 21 years in order to be eligible for the Noor bank’s personal finance.
  • You need a minimum monthly salary of 8000 AED to be eligible.
  • Applicant’s employer must be on the approved list of Noor bank for availing Noor bank’s personal finance.

Documents Required For Noor Bank Personal Loan

The documentation process for Noor Bank Personal Loan is quite easy and nominal as the bank required minimal documentation. The usual documents which are required for the Noor Bank personal loan application are as follows:

  • Proof of identity such as Emirates ID, Resident Visa & a copy of a valid passport
  • Bank Statement of the last 3 months
  • Salary Transfer letter

Final Words

So, if you are looking for a personal loan in Dubai then you can opt for a Noor Bank Personal Loan in order to have a smooth borrowing experience. Not only the Noor bank offers a personal loan at low profit rates but also there are several other benefits that you can enjoy by availing Noor Bank Personal Loan.

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