Emirates NBD offers both flat rate of interest and reducing rate of interest on its personal loan. Emirates NBD offers the best competitive rates on its personal loans in the market.
|Type of Loan||Interest rate||Maximum Loan Amount||Minimum Salary Required|
|Salary Transfer Loans for UAE Nationals||5.99% p.a. on a reducing basis and 2.63% p.a. on a flat rate basis||AED 3,000,000||AED 5,000.|
|Salary Transfer Loans||5.99% p.a. on a reducing basis||AED 1,000,000||AED 5,000.|
|UAE National Personal Loan with Additional Income||5.99% p.a. on a reducing basis and 2.63% p.a. on a flat rate basis if tenure chosen is 3 years||AED 3,000,000||AED 10,000|
|Automatic Top-Up Programme||5.99% p.a. on a reducing basis for three year tenure||120% of the original loan amount|
|New to Country / New to Employment Loan||5.99% p.a. on a reducing basis and 2.63% p.a. on a flat rate basis if tenure chosen is 3 years||AED 400,000||AED 10,000|
|Loan for NRIs – Loan against/for NRE Fixed Deposits||2.99% p.a. on a flat rate basis||90% of fixed deposit amount when availed in AED|
|Loan for Bankers||14.99% p.a. on a reducing rate basis||AED 200,000||AED 15,000|
|Loan without Salary Transfer||14.99% p.a. on a reducing rate basis||AED 200,000|
|Personal Loans for Self-Employed Professionals||18.99% p.a. on a reducing rate basis||AED 300,000||AED 20,000|
|Personal Loans for Self-Employed Individuals||AED 300,000||AED 25,000|
|Overdraft Facility||Reducing interest rates of 1.5% per month||Maximum loan amount is twice that of net monthly Salary||AED 10,000 or AED 3,000 to avail a maximum of 90% of the monthly net salary|
|Without End-of-Service Benefit Assignment||Maximum Loan Amount is 15 Times salary or AED 500,000||AED 10,000|
|End - of - Service Benefit Backed Personal Loans||90% of End of Service Benefit||AED 3,000|
Overview of Emirates NBD personal loan
Emirates NBD offers personal loan provides immediate finance for personal needs. The personal loan comes at competitive rates of interest and a wide range of benefits. The loan advances high loan amounts for both UAE nationals and expats. The loan also offers a free credit card for the first year. The loan can be availed online in an easy process and requires minimal documentation.
How to calculate EMI on your Emirates NBD Personal Loan
Calculating the payable EMI (Equated Monthly Installment) can seem like a difficult task but the truth is very far from that. An online personal loan EMI calculator will make calculating EMI very easy and hassle free. The tool is not only easy to use but it also saves the customer a lot of time. The tool can be found on the bank’s website or on third party financial websites.
The customer has to provide a few details such as the loan amount, tenure period, rate of interest and processing fee(if any) to calculate the payable EMI through the EMI calculator. Once the details are entered, the personal loan calculator outputs the results. The result not only gives the payable EMI but it provides other results such as the total breakup of the complete amount payable, interest payable and the principal amount.
Factors affecting Emirates NBD personal loan interest rates
Listed below are the factors that affect Emirates NBD personal loan interest rates.
- Income- The income of the applicant plays a very important role in the rate of interest granted on the personal loan. The higher the income, lower the rate of interest offered on the loan.
- Credit Score- The bank considers the applicant’s credit score before granting the loan. The applicant has the chance of availing a lower rate of interest if they have a good credit history and score. A bad credit history might even result in rejection of the loan. Every bank has a minimum credit score that an individual should possess in order to be eligible for the personal loan.
- Employment history- The chances of getting a lower rate of interest on your personal loan is higher if you have worked in your current place of employment for more than a year or two.
- Loan tenure-A longer loan tenure will result in a lower rate of interest.
Key things to know about Emirates NBD personal loan interest rates
Listed below are some of the important things one needs to know about the Emirates NBD personal loan.
- The bank offers both flat and reducing rate of interest on its personal loans.
- The rate of interest depends on a lot of factors including income, loan amount and tenure period.