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Several situations or unexpected events may require additional expenditure on your side. Whether it’s a marriage to be arranged, a home to be renovated, an expansion of the business to be completed, or more, one may often require financial aid at a moment’s notice. While most of us have savings for emergencies or personal requirements, availing of a personal loan in UAE can help you fulfil your obligation without exhausting your savings.
While you may find several personal loan plans in the UAE, you can always opt for Emirates Islamic personal loan to get the needed financial assistance at favourable terms. This type of plan is particularly beneficial for UAE nationals, who can receive efficient personal loan services and find solutions to their financial challenges or requirements.
If you're looking to quickly obtain funds at reasonable profit rates, you can look towards EIB Personal Loans and meet your ends. Discussed below are the major features and benefits offered by Emirates Islamic Personal Finance for UAE Nationals.
Due to the low profit rates of EIB personal loans, UAE nationals can utilise the loan and repay it along with an affordable profit amount. Tabled below are the profit rates provided by Emirates Islamic Personal Finance for UAE Nationals:
Personal Loan Plan |
Profit Rate |
---|---|
Emirates Islamic Personal Finance for UAE Nationals |
2.25% (Flat) |
As missing a document or providing an incorrect one in your loan application can lead to rejection, it is crucial to note the list of required documents. So before you apply for an EIB Personal Loan in UAE, keep the following paperwork promptly available:
Keep in Mind: The bank may request extra paperwork for verification during the loan application procedure.
Banks look at several factors in determining your eligibility for a loan like your credit score, employment history, income, and more. Moreover, banks also work with other organisations and agencies (like credit bureaus) – all with the aim of assessing your loan-repaying capabilities.
Here's what the Emirates Islamic Bank looks at when considering your application for a personal loan in UAE:
Key Facts in a Table
Age Requirement |
21 – 65 years |
---|---|
Residency |
UAE National |
Salary Requirement |
AED 10,000 |
Individuals interested in Emirates Islamic Personal Finance for UAE Nationals can apply for it digitally through policybazaar.ae or the official bank website, or even visit an Emirates Islamic Bank branch for the same. s
Given below is a description of all these application methods:
As it is highly recommended to compare the best plans when opting for a financial product or service, applying for a personal loan in UAE with policybazaar.ae will be immensely fruitful for you. Besides purchasing your selected plan, you will also get to compare the top plans in one place.
Emirates Islamic Bank also allows users to take the traditional route of applying for loans by visiting an Emirati branch office and filling out the required forms in person. Due to the enhanced ease of the process, most individuals nowadays opt for the online application method. However, if you have an Emirates Islamic branch nearby or wish to apply offline after consulting with an executive in person, the offline application option remains available.
Apply for Personal Loans for UAE Nationals |
Yes. Self-employed individuals are eligible to apply for the EIB Personal loan application.
The bank has set AED 10,000 as the required minimum monthly salary for an Emirates Islamic personal loan.
In order to be eligible for this EIB Personal Loan in UAE, applicants need to be in the age range of 21 years to 65 years.
Emirates Islamic Bank personal loans have a maximum loan repayment period of 4 years.
Visit the EIB Bank site or your nearest EIB bank branch to apply for Emirates Islamic Personal Finance for UAE Nationals. You can also continue on Policybazaar UAE and purchase this plan after comparing the different personal loan options.
Yes, EIB Bank offers personal loan pre-settlement. You will, however, be charged a minor early loan settlement fee.
The bank asks for recent salary certificates to verify your income and employment status, which helps it assess the chances of you being able to repay the loan without any difficulties.