NBQ Personal Loan

With simplified application processes and minimal documentation, the NBQ personal loan aims to deliver quick approval and disbursal. Let us explore the details of this loan for UAE nationals and UAE expats.

Features and Benefits of NBQ Personal Loan

We have mentioned the key benefits and features of the National Bank of Umm Al Qaiwain Personal Loan for UAE nationals and expatriates:

Personal Loan for Nationals

• Loan of up to 20 times your monthly salary - loan amount of up to AED 5 million
• Loan deferment period of up to 6 months
• 4 instalment deferments every year*
• Flexible loan repayment tenure of up to 60 months**
• Repayment tenure of up to 300 months for long-term loans
• Competitive interest rates, starting from 2.55% flat rate per annum (up to 6.85% flat)
• Complimentary ATM card
• Complimentary life insurance
• Consolidation of all liabilities in a single loan

* Not applicable to long tenure loans

**MOD Employees: Eligible for loans up to 15 times their monthly income, with a maximum tenure of 60 months

Personal Loan for Expatriates

• Loan of up to 20 times your monthly salary — maximum loan amount of AED 350,000
• Flexible loan repayment tenure of up to 48 months
• 2 instalment holidays each year
• Attractive and low interest rate starting from 3.28% flat rate per annum up to 3.80% flat
• Free debit card
• Complimentary life insurance

National Bank of Umm Al Qaiwain Personal Loan- Eligibility Criteria

Listed below are the eligibility requirements for the NBQ personal loan in UAE: 

Criteria	NBQ Personal Loan for UAE Nationals	NBQ Personal Loans for UAE Expatriates
Age	Minimum- 23 Years Maximum- 65 Years at Loan Maturity	Minimum- 23 Years Maximum- 60 Years at Loan Maturity
Salary Transfer	Required	Required
Minimum Service Period	At Least 3 Years with the Current Employer	At Least 3 Years with the Current Employer

National Bank of Umm Al Qaiwain Personal Loan- Documents Checklist

To process your  NBQ personal loan application, submit the following documents:

NBQ Personal Loan for UAE Nationals	NBQ Personal Loan for UAE Expatriates
Emirates ID Passport Salary Slip Personal Bank Statement	Emirates ID Passport Residence Visa Salary Slip Personal Bank Statement

National Bank of Umm Al Qaiwain Personal Loan- Fees and Charges

The fees associated with the Bank of Umm Al Qaiwain for UAE nationals and expatriates are as follows:

Types of Fees	Charges
Loan Processing Fee	1.05% of the loan amount (inclusive of VAT); Minimum- AED 525 Maximum- AED 2,625
Loan Top Up	1.05% of top up amount; Minimum- AED 525 Maximum- AED 2,625 (Inclusive of VAT)
Credit Life Insurance	Applicable
Delayed Payment Penal Interest Charges	2.1% of the delayed amount (Inclusive of VAT); Minimum- AED 52.50 Maximum- AED 210
Partial Settlement Fee	1.05% of the prepaid amount (inclusive of VAT); Maximum- AED 10,500
Early Settlement/ Final Settlement from Other Sources or End of Service Benefit	1.05% of the outstanding balance (inclusive of VAT); Maximum- AED 10,500

Note: The applicable fees and charges are the same for both UAE Nationals and Expatriates.

How to Apply for an NBQ Personal Loan via Policybazaar UAE?

You can easily apply for the NBQ Bank online personal loan through our digital platform, Policybazaar UAE.

Simply follow the instructions given below and secure your loan in minutes:

• Open Website: Visit www.policybazaar.ae.
• Personal Loan Section: Click ‘Banking Products’ and select ‘Personal Loan’.
• Initiate the Process: Complete the lead form with the correct details.
• Quotes Page: Locate the NBQ personal loan from the list of bank personal loans.
• Initiate the Loan Application: Apply and submit your application by providing the required details.

Wondering why choose us? Here’s why:

• We have collaborated with the prominent banks across the UAE
• Access a range of  loan options specifically tailored to meet your financial requirements
• Our customer support team is available round-the-clock for assistance
• We ensure a swift and hassle-free application process

Note: One of our officials will get in touch with you shortly and guide you through the next steps.

National Bank of Umm Al Qaiwain Personal Loan Calculator

If you’re planning to apply for a Bank of Umm Al Qaiwain personal loan, we suggest you estimate the monthly instalments beforehand. The NBQ Bank online personal loan calculator helps you determine the EMI before taking the loan to make a wise financial decision.

You can also use our online calculator available on our website to pre-calculate your monthly instalments.

Click here to access the calculator — type in your preferred loan amount, interest rate, and loan tenure. The online tool will instantly auto-generate the result without any errors. However, note that the amount may differ from the original monthly instalment amount due to variation in the interest rate.

NBQ Online Personal Loan- Terms and Conditions

Below are some of the common terms and conditions of the NBQ personal loan. For comprehensive details, please visit the bank’s official website.

• The bank will charge the fees, commissions, expenses, and service charges of VAT applicable to the loan according to the bank’s scheduled fees and charges. It may be notified by the bank based on the rates mentioned by the Central Bank of the UAE.
• The borrower becomes eligible for a cooling-off period of 5 working days from the date of officially accepting the loan agreement. By the 6th business day, the borrower must notify the bank if she/he will avail, reject, or negotiate an amendment to the loan agreement.
• The interest shall be calculated based on the daily balance of the drawn and unpaid loan amount excluding the interest accrued and fees from the withdrawal date based on the lapsed numbers of days and a 365-day year to be added to the loan balance. It shall be paid in monthly instalments.
• The Bank has the right to make amendments in the repayment structure and/or the number of instalments and/or the amount of each instalment in the event of a variation in the interest rate at the sole and absolute discretion of the bank and without the borrower’s prior consent.

Let us now see what loan seekers have to ask about the NBQ personal loan in the UAE! 

Frequently Asked Questions