Al Hilal Bank Personal Loan in UAE

A personal loan is a great financing option to fulfil myriad financial requirements, and the Al Hilal Bank personal loan is one of the best in its segment in the UAE. There are many benefits of applying for a loan with a bank. You could get benefits from Al Hilal Bank, like joining the Al Hilal Bank rewards program.

This loan is available for both the residents of UAE and expats. The loan amount limit for applicants is up to 20x of their salary. The interest rates offered to natives and expats on the loans are 3% and 4.65%, respectively.

Features of Al Hilal Bank Personal Loan

Given below are the unique features of the Al Hilal Bank personal loan:

• Favourable loan terms - The terms of the Al Hilal Bank personal loan are attractive, and it helps you to manage your credit better. With competitive interest rates and favourable repayment terms, you can now have a pleasant borrowing experience.

• High loan quantum - The maximum amount of Al Hilal Bank personal loan one can apply for is up to 20 times the applicant's monthly salary. Hence, you can meet a host of financing requirements.

• Sukuk finance - It uses the Shariah Murabaha. In this option, you can purchase National Bond saving certificates according to your requirement.

• Settlement of liabilities - The bank helps you to settle all your liabilities with other UAE banks under the Islamic Financing mode of Tawarruq or commodity marketing.

• Comes with no usage restrictions - Since there is no restriction on its usage, you can utilise the funds to fulfil a host of monetary needs like travel, higher education, rent, medical bills, and wedding, to name a few.

• Point system - Al Hilal Bank has a points rewards Joud membership program where points are rewarded over the loan amount.

Al Hilal Bank Personal Loan Interest Rate

The Al Hilal Bank levies a reduced interest rate on personal loans. In this method, the interest rate gets reduced with the payment of every instalment. The rate of interest is easily calculated by using the Al Hilal Bank calculator for personal loans. 

*Interest Rates can change as per the change in bank policies

Al Hilal Bank Personal Loan Points

You get Joud points with an Al Hilal Bank personal loan for expats/UAE Nationals. These points can be redeemed for shopping vouchers for many UAE malls and also for spa and massage treatments.

Al Hilal Bank Personal Loan eligibility criteria

The Al Hilal Bank personal loan eligibility criteria help in the assessment of a loan applicant's creditworthiness and the lending risk for the bank.

• Age - The borrowers, either expats or UAE nationals, need to be a minimum of 21 years of age. 
• Period of employment - The applicants need at least 6 months of service before applying for a loan. 
• Salary Transfer - Debtors will be able to avail of the loan with the transfer of salary, which must be approved by their employer.
• Credit Score - Borrowers need to meet the minimum credit score requirement set by the bank.

Documents Required for Al Hilal Bank Personal Loan:

The following personal loan documents need to be furnished for applying for an Al Hilal Bank personal loan:

• Salary transfer letter and salary certificate, which should be dated 30 days or less from the date of application.
• Bank statement of the previous 3 months
• Liability or clearance letter (when switching from another loan provider) 
• Completed loan application form
• UAE ID Number
• Passport
• Residence Visa for expats and not nationals of UAE.

The document requirements may change as per the change in Al Hilal Bank's policies. For further details, you can call on the Al Hilal Bank customer care contact number for loan application requirements.

How to Apply for An Al Hilal Bank Personal Loan

There are three modes of application

First Mode – Online query

• On the official website of the Al Hilal Bank, open the page of personal finance
• Fill the form with the relevant information
• Submit the application
• A bank professional will contact you in a short time

Second Mode- In-person visit to Al Hilal Bank 

• Consult bank personnel who deals with personal loans by visiting the Al Hilal bank branch nearest to you

Third Mode - Call the Customer Support Team personally 

• Call customer support for assistance on the Al Hilal Bank personal loan

How to Calculate Al Hilal Bank Personal Loan EMIs?

While applying for an Al Hilal Bank personal loan, you as an applicant should compute the EMIs in advance for better financial planning. Now, EMIs, or equated monthly instalments, are what help you to repay your credit in a systematic way and without any additional financial burden. Now to compute and find the amount, you can use an online EMI calculator. It gives you an estimate of your prospective monthly instalment.

How does Al Hilal Bank's Personal Loan Calculator Work?

The personal loan calculator of Al Hilal Bank is an online tool that helps compute your personal loan's EMI. For an estimate, first of all, visit the Al Hilal Bank's official website. Then browse to the tab that is named personal loan or personal finance. You will see the Al Hilal Bank personal loan calculator there on the web page of the loan you need. Feed the required details in the calculator like the amount of loan, interest rate, number of instalments, etc. The EMI amount will be calculated and displayed.

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