• Emirates NBD Personal Loan Eligibility

    Emirates NBD Personal Loan Eligibility

    The personal loans offered by Emirates NBD cover a wide range of possible purposes and conditions. They are offered to people looking for cash for home improvement to those looking for a loan for other personal expenses. They can be taken with or without a salary transfer and feature higher loan amounts that can be as high as AED 300,000 or more, depending on the category of the loan. Some of these loans can also feature tenures ranging up to 4 years.

    Emirates NBD Personal Loan Eligibility criteria For salaried individuals

    • Salary transfer loans
      • In case of a salary transfer loan the salary must be transferred to Emirates NBD accounts.
      • The employers need to be on the bank's approved list.
      • The minimum income needs to be AED 5,000.
    • Personal loan for home improvement
      • The person must be a UAE national with the salary being transferred to the bank.
      • They should have been working for a minimum of 2 years.
      • Their minimum monthly salary must be AED 15,000
      • They should be above the age of 25 years.
    • New to country/employment loan
      • The minimum monthly salary of AED 10,000.
      • The salary needs to be credited to an account with Emirates NBD.
      • The employers need to be on the bank's approved list.
    • Personal loans for NRIs
      • The person must be a non-resident India with a valid Visa.
      • They need to either be salaried or self-employed.
      • If they have a fixed deposit in India with a partner bank it should be favouring Emirates NBD.

    For self-employed individuals

    • For professionals they need to have been in business for at least 1 year.
    • For non-professionals the length of business needs to be 2 years.
    • The average account balance over the last 6 months must be AED 20,000 for professionals and AED 25,000 for non-professionals.

    Factors affecting Emirates NBD Personal Loan Eligibility

    There may be times when certain factors may preclude an individual from being able to take a loan and these factors are:

    • The lack of collateral to secure the loan.
    • The salary is being transferred to another bank.
    • The applicant does not meet the minimum salary requirements for the particular loan.
    • The loan applied for is available only to UAE nationals.
    • The employer is not on the approved list.

    How to increase Emirates NBD Personal Loan Eligibility

    • If you salary does not meet the minimum requirements try changing to a loan that does fit it.
    • If the loan is meant only for UAE nationals then shift to one that is meant for both nationals and expats.
    • If you don’t have your salary being transferred to Emirates NBD you can either have it transferred or switch to a loan that does not require salary transfers.

    Frequently Asked Questions – Emirates NBD Personal Loan Eligibility

    1. What is the maximum loan amount that can be borrowed?
    2. The maximum amount that can be borrowed will depend on the type of loan, the income of the applicant and various other factors. As such, it can go as high as AED 3 million.

    3. Is a salary transfer to the bank mandatory?
    4. No, it is not. It is only mandatory for certain types of personal loans.

    5. What if my employer is not on the approved list?
    6. If your employer is not on the approved list then you can go in for another loan that does not require employers to be approved.

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    Emirates NBD Fixed Deposit

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