New to Country Employment Loan
| Islamic Finance | No |
| Minimum Salary | AED 5,000 |
| Minimum Age | N/A years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | No |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | No |
| Employment Criteria | Designed for expats new to the UAE, subject to employment verification and residency. |
| Minimum Loan Amount | AED 30,000.00 |
| Maximum Loan Amount | AED 1,000,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 60 months |
| Flat Interest Rate: | 7.50% - Flat interest rate applicable for new expats, subject to credit assessment. |
| Reducing Interest Rate: | 7.75% - Reducing balance rate for new expats; rates vary based on credit profile. |
| Processing Fee: | 1.00% - Processing fee of 1% of the loan amount. |
| Early Settlement Fee: | 1.00% - Early settlement fee of 1% on outstanding balance. |
| Late Payment Fee: | N/A |
| Insurance Fee: | N/A |
Required Documents
Passport, residence visa, employment contract, salary certificate, bank statements.
Additional Benefits
Simplified application process with flexible repayment options tailored for newcomers.
Features:
Designed specifically for expats new to the UAE; competitive interest rates; quick processing.
General Notes
Offer subject to eligibility, credit assessment, and terms and conditions.
