Emirates Islamic Bank is a subsidiary of Emirates NBD, the largest banking group in the Middle East. The bank offers Islamic banking products and services for UAE nationals and expats residing in UAE. Personal loan or personal finance is one of the products offered by the bank. The personal finance or personal loan offered by Emirates Islamic Bank caters to expats and not only UAE nationals. Expats can avail Emirates Islamic personal finance with no hassles.
Features and benefits of Emirates Islamic Bank Personal Loan for Expats
Listed below are the features and benefits of Emirates Islamic Bank Personal Loan for Expats.
- Personal finance based on Murabaha arrangement through trading of Sharia’ compliant instruments
- Competitive profit rates
- Available for expats residing in UAE
- Personal financing available for salaried and self employed individuals
- Flexible tenure terms
- Sharia compliant
- Approval in 24 hours
- Nominal processing fee
- Certificate of takaful
- High finance amount up to AED 1 million
- Exclusive policy terms
- Minimal documentation
- Hassle free application process
Eligibility criteria for Emirates Islamic Bank Personal Loan for Expats
Listed below is the eligibility criteria for Emirates Islamic Bank Personal Loan for expats
- The applicant must be a resident of UAE
- Minimum age- 21 years
- Maximum age- 60 years
- Minimum income- AED 5,000
- Length of service- Minimum 1 month
Fees and charges applicable on Emirates Islamic Bank Personal Loan for Expats
Listed below are the fees and charges of Emirates Islamic Bank Personal Loan for Expats
- Processing fee- 1% of the finance amount
- Takaful fee- 0.75% of the finance amount
- Late payment fee for overdue installment- AED 200
How to avail Emirates Islamic Bank Personal Loan for Expats?
There are two ways in which one can avail Emirates Islamic Personal Finance for expats. One is by applying for it online through the bank’s official website or through a third party financial website. An expat can also apply for personal finance at one of Emirate Islamic Bank’s branches.