Emirates Islamic Personal Finance for UAE Nationals

Personal Loan up to 8 times your Salary

Personal Loan in UAE

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  • Hassle-free documentation
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

Get personal loan at Lowest Interest Rate

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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.

Emirates Islamic Personal Finance for UAE Nationals

  • Minimum Salary AED 10,000
  • Monthly Payment AED 2,180
  • Flat Rate 2.25%
  • Reducing Rate NA
  • Salary Transfer
  • Islamic Finance
  • Sharia Compliant

Benefits and Features of Emirates Islamic Personal Finance for UAE Nationals

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.

  1. Up to AED 4 Million Loan Amount - Emirates Islamic Bank provides customised personal loans to UAE nationals, with the loan amount going up to AED 4 million.
  2. Flexible Repayment Tenure - EIB personal loans give you flexibility in terms of loan repayment. You can repay the sum over a period of up to 4 years and fulfil your financial responsibilities without reducing other necessary expenditures.
  3. Affordable Profit Rates - With a personal loan in UAE from Emirates Islamic Bank, UAE nationals can obtain the required funds at profit rates as low as 2.25% and keep the profit amount on their loan under a manageable limit.
  4. Shari’a Approved - As Emirates Bank provides Shari’a-compliant personal loans, individuals looking to borrow without breaching Islamic financing standards can easily apply for it.
  5. Loan Application Without Hassles - Whether it's to cover unexpected expenses, pay off debt, or make a down payment on a home improvement project, you can obtain an Emirates Islamic Bank personal loan for the same in just a few easy steps.

Interest Rates of 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)
4.2% (Reducing)

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Documents Required for Emirates Islamic Personal Finance for UAE Nationals

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:

  1. Valid Passport
  2. Copy of valid passport 
  3. Last 3-month Bank Statements
  4. Trade License (for self-employed applicants)
  5. Salary transfer letter or Recent salary certificates
  6. Liability letters
  7. Account opening forms

Keep in Mind: The bank may request extra paperwork for verification during the loan application procedure.

Eligibility Criteria for Emirates Islamic Personal Finance for UAE Nationals

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:

  • Age: You can sign up for this Emirates Islamic Bank personal loan if you're at least 21 years old. The age limit on the other side is 65 years old for UAE Nationals.
  • Residency: This loan product is available to UAE Nationals.
  • Salary: The bank only considers the applications of individuals having a minimum monthly salary of AED 10,000 for the Emirates Islamic personal loan.

Key Facts in a Table

Age Requirement

21 – 65 years

Residency

UAE National

Salary Requirement

AED 10,000

Check loan eligibility and apply personal loan

How to Apply for Emirates Islamic Personal Finance for UAE Nationals?

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:

Via Policybazaar UAE

  1. Go to the Policybazaar UAE site and choose 'Personal Loans in UAE'.
  2. A brief form will be displayed where you will be required to provide your basic information.
  3. The next page will show you a variety of personal loan options.
  4. Compare the available options and apply for any one of them by clicking 'Apply Now' near the plan.
  5. Fill out and submit the loan application form for your selected plan.
  6. Policybazaar UAE will connect with you and initiate the loan procedure.

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.

Via Emirates Islamic Bank Website

  1. Go to the Emirates Islamic Bank's website and sign in.
  2. From the drop-down option, choose 'Finance'.
  3. You will be given a range of financing possibilities. Under the Personal Finance section, select 'Apply Now.
  4. Your screen will display the loan application form. Complete the form and submit it there.
  5. Once your application is received, the EIB will contact you to complete your loan application.

Via a Bank Branch

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.

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FAQ's

Can self-employed individuals apply for EIB Personal Loans?

Yes. Self-employed individuals are eligible to apply for the EIB Personal loan application.

What is the salary requirement for Emirates Islamic Personal Finance for UAE Nationals?

The bank has set AED 10,000 as the required minimum monthly salary for an Emirates Islamic personal loan.

What is the age requirement for Emirates Islamic Personal Finance for UAE Nationals?

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.

What is the highest loan tenure I can receive from EIB Bank?

Emirates Islamic Bank personal loans have a maximum loan repayment period of 4 years.

How to apply for Emirates Islamic Personal Finance for UAE Nationals?

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.

Can I close my personal loan account early before my loan term ends?

Yes, EIB Bank offers personal loan pre-settlement. You will, however, be charged a minor early loan settlement fee.

Why should I submit my salary certificates to the bank?

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.

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