CBI offers personal loans of customised loan amounts to suit the customer’s needs. The banks has a eligibility criteria that the applicant needs to fulfil in order to be qualify for the personal loan. Listed below is the eligibility criteria for CBI personal loan.
- The applicant should earn AED 20,000 or above
- The customer should be employed in a CBI approved company
- The customer should transfer their salary to CBI
Factors affecting CBI Personal Loan Eligibility
Listed below are some of the important factors that affect your CBI personal loan eligibility
- Age of the applicant- The applicant needs to be of minimum age cited by the bank in order to be eligible of the loan.
- Income of the applicant- The applicant needs to earn a minimum amount as salary in order to be eligible for the loan.
- Existing debt(if any)- If the applicant has a lot of debt, it will ruin their chance of availing a personal loan.
- Relationship with the bank-The customer’s relationship with the bank matters a lot.
- Credit history of the applicant-If the applicant has a bad credit history, the chances of availing a personal loan is less.
- Type of employment-The establishment in which the candidate is working affects the loan eligibility.
- Employment duration-The bank requires the candidate to have stayed at their current place of employment for more than 6 months in order to be eligible for the loan.
How to increase your CBI Personal Loan Eligibility?
Listed below are some of the ways through which one can increase their loan eligibility for CBI personal loan.
- Maintain a good credit history
- Clear all existing debt
- Don’t default on loans and credit cards
- Use property for secured loans
- Choose longer tenure period
Frequently Asked Questions - CBI Personal Loan Eligibility
- Does the nationality of the expat affect the loan eligibility?
- What is the minimum length of service demanded for the loan?
- Can minors apply for the personal loan?
The nationality of the expat doesn’t matter as long as they reside in UAE and fulfil the eligibility criteria of the loan
The applicant should maintain at least more than 6 months of service in order to be eligible.
No, the applicant should be 21 years of age.