Emirates NBD Personal Loan Interest Rates

Emirates NBD is one of the leading banks in the United Arab Emirates, providing a wide range of financial products and services. Among their offerings is the personal loan, which is a popular choice for individuals looking to quickly meet their financial requirements.

We will provide a comprehensive overview of Emirates NBD personal loan interest rates, helping you make an informed decision when considering a personal loan from Emirates NBD.

Features of Emirates NBD Personal Loans

Before moving on to the interest rates, let’s take a look at some of the key features of Emirates NBD personal loans -

• Loan Types: Emirates NBD offers different types of personal loans to cater to the diverse needs of customers. With the bank offering different personal loans for UAE nationals and expats, you can easily get a personal loan to fulfil your requirements such as a wedding, education, home renovation, or any other personal expenses.
• Attractive Interest Rates: Emirates NBD provides personal loans at competitive interest rates, ensuring that customers have access to cost-effective borrowing options.
• Flexible Repayment Period: The bank offers flexible repayment periods, allowing borrowers to choose a loan tenure that suits their financial capabilities. The repayment period can range from 12 to 48 months. 
• Easy Documentation: Emirates NBD makes the loan application process a seamless one by having minimal documentation requirements. This helps expedite the loan approval process and provides customers with a hassle-free experience.
• Quick Disbursal: Once the loan application is approved, Emirates NBD ensures quick disbursal of the loan amount so that you can have timely access to the funds that you require.
• Online Loan Calculator: Emirates NBD provides an online loan calculator on their website, which allows you to estimate the interest rates and monthly instalments based on the loan amount, tenure, and applicable interest rate.

Emirates NBD Personal Loan Interest Rates

Tabled below are the Emirates NBD personal loan interest rates – 

Type of Emirates NBD Personal Loan	Emirates NBD Personal Loan Interest Rate (Per Annum)
Salary Transfer Loan for UAE Nationals	Fixed Rate - 2.75% - 8.72% Reducing Rate - 5.15% - 15.99%
Salary Transfer Loans for Expatriates	Fixed Rate - 3.03% - 8.72% Reducing Rate - 5.69% - 15.99%

Important: The interest rates for Emirates NBD personal loans may vary based on your profile and other factors. As the interest rates are subject to change, it's recommended to check with the bank at the time of applying for a loan. 

Factors Affecting Emirates NBD Personal Loan Interest Rates

Here are some of the major factors influencing personal loan interest rates -

• credit Score: Your credit score plays a significant role in determining the interest rate offered by Emirates NBD. As a higher credit score indicates a lower credit risk, you may be eligible for a lower interest rate with such a score.
• Loan Amount: The loan amount that you apply for can also impact the interest rate. Generally, larger loan amounts may attract higher interest rates compared to smaller loan amounts.
• Loan Tenure: The loan tenure, or the repayment period, can also influence the interest rate. Shorter loan tenures may come with lower interest rates, while longer tenures may have slightly higher rates.
• Income: Your income level and employment stability can also affect the interest rate on your personal loan. A higher income and stable employment history may result in a lower interest rate.
• Existing Relationship with Emirates NBD: If you have an existing relationship with Emirates NBD (whether you are a long-time customer or hold other accounts with the bank), you may be eligible for preferential interest rates or discounts.

Fees & Charges of Emirates NBD Personal Loans

Check out the table below for the fees and charges related to Emirates NBD personal loans -

Fee Description	Applicable Charges
Loan Processing Fee (New)	1.05% of the loan amount (min AED 525 and max AED 2,625)
Loan Processing Fee (Top Up)	1.05% of the incremental loan amount (min AED 525 and max AED 2,625)
Overdraft (OD) against Salary	Annual set-up fee of AED 210 Reducing rate of 1.5% per month
Overdraft (OD) against Fixed Deposit (FD)	Annual set-up fee - AED 210 Reducing rate of 0.4% per month
Late Payment Charge	AED 52.5
Instalment Deferment Fee	AED 105
Rescheduling Fee	AED 262.5
Early Settlement Fee	1.05% of the principal outstanding amount (max AED 10,500)
Due Date Change	Free
Advance EMI (up to 3 EMIs)	Free
Clearance Letter	Free
Partial Payment	1.05% of the payment made (max AED 10,500)
Liability / No Liability Letter	AED 52.5
Loan Cancellation Fee	AED 52.5
Direct Debit Return Charges	Free
Request for Other Letters	Free

Note: The fees and interest rates mentioned above are subject to change at the sole discretion of the bank. The above fees/charges are inclusive of Value Added Tax (VAT) as per the UAE CB and Federal Tax Authority regulations.

How to Calculate Emirates NBD Personal Loan Interest Rates?

Emirates NBD personal loan interest rates vary as per factors such as the loan amount, loan term, and the applicable interest rate. To calculate the interest rates for Emirates NBD personal loans, follow these steps -

• Determine the Loan Amount: This refers to the total amount that you intend to borrow from the bank.
• Establish the Interest Rate Percentage: The interest rate is expressed as a percentage and is charged by the lender for lending the money. 
• Consider the Loan Term: The loan term represents the duration within which you are required to repay the loan. Typically, the loan term is stated in months.
• Utilise the Online Loan Calculator: Emirates NBD provides an online calculator that assists you in determining the personal loan instalment amount rate. This calculator allows you to enter the loan amount and loan term to calculate the monthly payments.

To use this calculator, you can visit the official website of Emirates NBD. After scrolling to the bottom, choose the ‘Loan Calculators’ option. This will take you to the personal loan calculator page, where you can enter the specified details to obtain the instalment amount.

Eligibility Criteria for Emirates NBD Personal Loan

Here are the eligibility criteria for this Emirates NBD personal loan -

Eligibility Criteria	Expats	UAE Nationals
Minimum Monthly Income	AED 5,000	AED 5,000
Employment Status/Length of Employment	Employed without any minimum length of service	Employed without any minimum length of service
Salary Transfer	Required	Required
Credit History	Good credit history (as per the bank's assessment)	Good credit history (as per the bank's assessment)

Here are some frequently asked questions related to Emirates NBD personal loan interest rates -

FAQ's