• Finance House Personal Loan Eligibility

    Finance House Personal Loan Eligibility

    Finance House offers personal loans to its customers that are designed to meet their financial needs as and when they rise up. These loans can be as high as AED 250,000 and can be paid back over a period of 4 years or 48 months. The bank does not require salary transfers for this loan and also feature quick processing times so as not to keep the customers waiting. The loans also come with a credit card that is offered free for life along with simple documentation and competitive interest rates on the loan itself which can range from 16% per annum to 24% per annum. Another advantage of these personal loans is that there is no security required to avail the loan.

    Finance House Bank Personal Loan Eligibility Criteria

    In order to be able to taken a Finance House personal loan, the following eligibility criteria needs to be met.

    • The minimum age of the applicant must be more than 21 years.
    • The maximum age for this loan is 60 years.
    • The applicants must either be employed by the government/semi-government establishments or by a reputed private firm.
    • The minimum monthly income for this loan is AED 15,000.
    • The applicant must also have been in service with the current organisation for a minimum of 6 months.

    Factors affecting Finance House Bank Personal Loan Eligibility

    There are some factors that can have a negative effect on your loan eligibility. They are:

    • Lack of original documents for verification.
    • Lack of a valid passport.
    • Expired documents.
    • Low monthly income
    • Being self-employed

    How to increase Finance House Bank Personal Loan Eligibility

    These are the things that can be done to ensure that you are eligible for this loan.

    • Ensure all document are present and updated.
    • Ensure that you are not going to be past the age of 60 when the loan matures.
    • Ensure that you have the bank statements for the last 3 months for the account where you get the salary.

    FAQ - Finance House Bank Personal Loan Eligibility

    1. Who can take these loans?
    2. Anyone who is a resident of the UAE or an expatriate with a valid visa can take this loan. This loan is not available to self-employed individuals.

    3. What is the minimum amount that can be borrowed?
    4. The minimum amount that can be borrowed is AED 40,000.

    5. What if I have been working with the company for less than 6 months?
    6. To be eligible for the loan you either need to have been working with the firm for 6 months or provide a job confirmation to the bank.

    7. What if something happens to me and I can’t repay the loan?
    8. When the loan is approved, you will also get death and permanent disability Takaful cover to ensure the loan does not become a burden.

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