Personal 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 | Loan is granted against a salary transfer letter from the employer. |
| Minimum Loan Amount | AED 50,000.00 |
| Maximum Loan Amount | AED 2,000,000.00 |
| Minimum Loan Tenure | 6 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 5.00% - Interest is calculated on a reducing balance basis daily; actual rate subject to market conditions. |
| Reducing Interest Rate: | 5.00% - Fixed on a reducing balance basis throughout the loan period. |
| Processing Fee: | 1.00% - 1% of the loan amount, with a minimum fee of AED 500 and a maximum of 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 applicable VAT. |
| Late Payment Fee: | 200.00% - A fixed fee of AED 200 for late payments per installment. |
| Insurance Fee: | 0.02% - Life Insurance Premium as per standard tariff, deducted upfront from the disbursed amount. |
Required Documents
Salary transfer letter, Emirates ID, passport copy, salary certificate, bank statements, and employment contract.
Additional Benefits
Option to postpone up to two monthly payments during a 12‐month period after 6 months of disbursal.
Features:
Equal monthly repayments over up to 48 months with interest calculated on a reducing balance basis.
General Notes
Subject to Arab Bank’s credit assessment, terms and conditions, and UAE Central Bank regulations. A cooling‐off period of 5 business days applies.
