CBD or Commercial Bank of Dubai offers personal loan with competitive interest rates and high loan amounts. The personal loan comes with various benefits such as free life insurance and no restriction on minimum balance. Not everyone can avail CBD personal loan, the bank has an eligibility criteria that needs to be fulfilled in order to be eligible for the personal loan.
Listed below is the eligibility criteria for CBD personal loan.
- If the applicant is a UAE national, they should be of ages between 21 and 65 years
- An expat applicant should be of aged between 21 and 60 years
- Should be a confirmed employee or should have completed 6 months of service with a CBD approved employer
- Should earn a minimum income of AED 8000 every month
- Should be capable enough to provide all the documents required by the bank
- Salary transfer is mandatory
Factors affecting CBD Personal Loan Eligibility
Listed below are some of the important factors that affect CBD personal loan eligibility.
- Salary transfer- The bank requires the applicant to transfer their salary account to the bank in order to be eligible for the personal loan.
- Age- The applicant should fall under the minimum and maximum entry age criteria cited by the bank in order to be eligible for the loan.
- Income- The applicant should earn a minimum salary/income if they wish to avail CBD personal loan.
- Credit history- Banks take credit history of the applicant very seriously when determining their eligibility for the personal loan. A bad credit history might lead to rejection of the loan application.
- Employer- The applicant should be employed in a CBD approved company in order to be eligible for the personal loan offered by CBD.
How to increase your CBD Personal Loan Eligibility?
Listed below are some of the ways through which one can increase their personal loan eligibility with CBD.
- Maintain a good credit history
- Do not default on loans
- Have a balance of secured and unsecured loans
- Make payments on time on your credit cards
- Maintain job stability
- Use collateral(if allowed)
Frequently Asked Questions - CBD Personal Loan Eligibility
- Are expats eligible for CBD personal loan?
- Is there an age limit for UAE nationals wishing to avail CBD personal loan?
Yes, expats are eligible for CBD personal loan.
UAE nationals aged between 21 and 65 are eligible for the loan.