Instant Loan
| Islamic Finance | No |
| Minimum Salary | AED 3,000 |
| Minimum Age | 21 years |
| Maximum Age | 60 years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Granted against a salary transfer letter; designed for quick approvals with minimal documentation. |
| Minimum Loan Amount | AED 20,000.00 |
| Maximum Loan Amount | AED 500,000.00 |
| Minimum Loan Tenure | 6 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 5.00% - Fixed interest rate on a reducing balance basis; calculated daily on the outstanding balance. |
| Reducing Interest Rate: | 5.00% - Interest remains fixed throughout the loan period on a reducing balance basis. |
| Processing Fee: | 1.00% - 1% processing fee (min AED 500, max AED 2500 inclusive of VAT). |
| Early Settlement Fee: | 1.00% - Early settlement fee of 1% of the remaining balance, capped at AED 10,000 plus VAT. |
| Late Payment Fee: | 200.00% - A fixed late payment fee of AED 200 per installment if payments are delayed. |
| Insurance Fee: | 0.02% - Life Insurance Premium as per Arab Bank’s standard tariff, deducted upfront. |
Required Documents
Salary transfer letter, Emirates ID, passport copy, salary certificate, and bank statements.
Promotions
Fast approval and quick disbursal with streamlined documentation.
Additional Benefits
Designed for urgent financial needs with faster processing and disbursal.
Features:
Offers quick access to funds with repayments over 6 to 48 months; interest calculated on a reducing balance basis.
General Notes
Subject to Arab Bank’s standard credit conditions and applicable UAE regulations. Cooling‐off period of 5 business days applies.
