The personal banking domain of NBF stands quite strong and personal loan product by the bank has several competitive and flexible loans schemes. There is a certain eligibility criteria that customers need to fulfill for being eligible to receive personal finance from NBF.
- Any salaried employee or applicant earning a stable and regular income
- Age of the applicant must be between 21 to 65 years
- Minimum monthly salary required is AED 5,000
Factors affecting NBF Personal Loan Eligibility
Some of the most important factors that affect personal loan eligibility for NBF personal loans are mentioned as under –
- Age of the loan applicant
- The type of employment of loan applicant
- Number of years of service at current employer
- Credit history of the loan applicant
- Applicant’s relationship with the bank; whether he/she is an existing NBF customer
- Monthly income of the personal loan applicant
- Existing debt liabilities of the loan borrower
How to increase NBF Personal Loan Eligibility?
Sometimes, NBF may reject your personal loan application for not meeting the eligibility criteria. Some of these generic steps towards a healthy financial portfolio are listed below.
- Maintain a sound credit history
- A mix of secured and unsecured loans to your name is considered better than having just unsecured credit in your portfolio
- Applying for personal finance from numerous banks simultaneously is not considered good and tends to lower your eligibility
- A stable job which earns you a regular monthly income is a positive.
FAQs on NBF Personal Loan Eligibility
- What is the maximum personal loan amount that I can avail with NBF personal loan?
- Can I alter the tenure of personal loan by NBF?
- Does the NBF personal loan scheme require a security to be deposited?
- What is the maximum personal loan repayment period?
The maximum permissible personal loan amount is 20 times your monthly salary.
Yes. It can be altered as per the existing bank policy.
No. There are no collaterals to be submitted as security against this personal loan.
The maximum loan repayment period is 48 months.