NBQ has certain eligibility criteria that needs to be fulfilled by customers, in order to avail personal finance.
- Personal loan applicant should be an existing customer of HSBC
- Only UAE nationals can apply for the personal loan for UAE Nationals
- Owning a valid visa and passport are must for loan approval
- Expats can apply for the loan scheme meant specially for expats
- Minimum monthly income should be AED 5000
- Maximum loan amount offered is AED 2,50,000
- Minimum applicant age is 21 years
- Maximum applicant age is 65 years
Factors affecting NBQ Personal Loan Eligibility
There are a few factors that affect personal loan eligibility for customers. These are -
- Age of the applicant
- Type of the job of the loan applicant
- Stability of applicant’s job
- Credit history of the loan borrower
- Applicant’s relationship with the bank
- Monthly income of the personal loan applicant
- Existing debt liabilities of the loan applicant
How to increase NBQ Personal Loan Eligibility?
- Maintain a good credit history
- Have a mix of both secured and unsecured loans in your name
- Do not apply for personal loan with too many banks
- Try not to change your job frequently since banks tend to prefer customers with a stable job and regular annual income
FAQs on NBQ Personal Loan Eligibility
- Will the bank sanction my loan is my credit score is low?
- Do I need to be an existing NBQ customer to avail personal finance from the bank?
- I have my own business enterprise, am I eligible to apply for NBQ personal loan?
- I am an expat, can I avail the personal loan for UAE nationals scheme?
No. Banks take into account your current credit score in order to sanction personal finance. However, you can work on your credit score and then apply for loan once the score reached a fair value.
Yes. Only existing NBQ customers can avail its personal loan scheme. If you wish to get personal loan from NBQ then you must open an account with the bank.
Yes. Customers who are self-employed are eligible to apply for NBQ personal loan provided they earn a regular annual income.
No. Only UAE nationals can apply for the personal loan for UAE Nationals scheme. Expats can apply for personal loan for expats loan scheme from NBQ.