Emirates NBD Non Salary Transfer Personal Loan

Maintaining sufficient financial balance plays a crucial role in maintaining your lifestyle and independence. However, when specific personal expenses arise - such as those related to medical bills, vehicle repairs, home renovation, or education tuition fees - you may find yourself requiring additional funds in the form of a personal loan in UAE. 

In instances like these, Emirates NBD has several options to ensure access to funds with its affordable loans. This article will provide a detailed description of the Emirates NBD Non Salary Transfer Personal Loan and the major aspects related to this Emirates NBD personal loan.

Benefits and Features of Emirates NBD Non-Salary Transfer Personal Loan

A personal loan from Emirates NBD could be the solution for all your financial requirements, with the bank offering a perfect balance between flexibility and affordability through a wide range of products. Notably, Emirates NBD provides personal loans to both UAE nationals and ex-pats along with numerous benefits.

Given below are the main features of Emirates NBD Non Salary Transfer Personal Loan.

1. Low Rates of Interest - Emirates NBD is known across the country for offering low-interest personal loans in UAE. The bank offers flat interest rates starting as low as 2.55% per annum for UAE Nationals and 3.03% per annum for expatriate borrowers in the UAE, making it one of the most accessible and affordable sources of funds. 
2. High Loan Amounts - Emirates NBD provides many funds to UAE nationals and expatriates to help them fulfil their financing needs. With the Emirates NBD personal loan in UAE, UAE nationals can get a loan amount of up to AED 4 million, while expatriates can receive an amount of up to AED 2 million.
3. Ease of Repayment - Emirates NBD offers personal loans with a maximum repayment tenure of 48 months, which ensures that today's customers are able to plan their finances better without the burden of the loan.
4. Zero Processing Fee - If you are a UAE National, you can get an Emirates NBD personal loan with zero processing fees. 
5. Credit Life Insurance - All of Emirates NBD's borrowers are offered a Credit Life Insurance policy. Thus, if the borrower dies within the loan term, the insurance company will take care of their outstanding loan debt without letting their families get affected. This feature is available for UAE nationals without any insurance fees.
6. First Instalment Deferment - Emirates NBD offers first payment deferment to all its borrowers. The bank allows the option to postpone your payment for up to 120 days (if you are a UAE national), while the permissible limit is 75 days for ex-pats. This makes for a great opportunity if you plan some big purchases and wish to manage them first before initiating your loan repayment.
7. Loan Top-up - Besides providing you with the funds at the time of your requirement, Emirates NBD also offers you additional finance if you need further assistance in your case. The bank provides a top-up facility for its personal loan in UAE, which helps individuals cover their urgent financial obligations. However, it should be kept in mind that you may have to resubmit some paperwork and go through the loan application procedure again to avail of this facility.

Interest Rates of Emirates NBD Non Salary Transfer Personal Loan

Interest rate is a key factor that you should consider before applying for a personal loan in UAE. With the interest rate determining the cost of your loan to a great extent, it’s always a good idea to verify the applicable interest rates. 

Here is a summary of interest rates offered by Emirates NBD Personal loan in UAE

Documents Required for Emirates NBD Non Salary Transfer Personal Loan

Loan documents are vital for processing a loan application, with your submitted papers being examined by the bank to verify your provided information. However, forgetting about any of the essential documents when applying for a personal loan in UAE can delay your application process.

To ensure a hassle-free application process, keep in mind the necessary documents when applying for an Emirates NBD Non Salary Transfer Personal Loan in UAE:

1. Valid Passport
2. Valid Emirates ID
3. Recent Salary Certificates
4. Undated Security Cheque
5. Last 3-month Security Cheque

Note: The bank has the right to ask for more documents for verification during the loan application.

Eligibility Criteria of Emirates NBD Non Salary Transfer Personal Loan

Listed below are the eligibility requirements set by the bank for an Emirates NBD Non Salary Transfer Personal Loan in UAE:

• Age: The minimum age requirement for an Emirates NBD Personal Loan is 21 years.
• Residency: Emirates NBD Non Salary Transfer Personal Loan is available for both ex-pats and UAE Nationals.
• Salary: The minimum salary required for this Emirates NBD personal loan in UAE varies as per the applicant.

How to Apply for Emirates NBD Non Salary Transfer Personal Loan?

Emirates NBD customers can accelerate the loan approval procedure and acquire the required funds by applying for personal loans online. An online loan application process allows the customer to submit the application form anywhere and anytime. You can apply for a personal loan from Emirates NBD from the bank’s website or policybazaar.ae.

Via Policybazaar UAE

1. Visit Policybazaar.ae.
2. Click on ‘Personal Loans in UAE’ on the homepage.
3. Fill in the quick form with your basic details. This will help the site to offer you only the products relevant to you.
4. The next page will open up the list of available personal loan products for you. Compare your options before settling on one.
5. Click on the ‘Apply Now’ button next to your preferred loan plan.
6. The loan application form will be presented. Fill in the form and submit it online.
7. Policybazaar UAE will get in touch with you to further process your loan.

Via Emirates NBD Website

To apply for a personal loan in UAE via the Emirates NBD website, you need to sign in to the website first. Open the personal banking section and click on the ‘Personal Loan’ button under Loans. When you click 'Apply Now,' you'll be sent to the loan application form. All that's left now is fill to out the application form and submit the same. After that, a bank representative will contact you to complete the loan application.

Applying Offline

Applicants can also complete the loan application process by visiting their local Emirates NBD bank branch in person and submitting the loan application form offline. However, an online procedure is highly recommended since it streamlines the process and saves the customer a significant amount of time and effort.

Frequently Asked Question