Unsecured Personal Loan (Salary Transfer)
| Islamic Finance | No |
| Minimum Salary | AED 7,500 |
| Minimum Age | 21 years |
| Maximum Age | 65 years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Must have a current account with HSBC and credit salary to that account. |
| Minimum Loan Amount | AED N/A |
| Maximum Loan Amount | AED N/A |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | N/A |
| Reducing Interest Rate: | 6.75% - Reducing balance rate of 6.75% with an APR of 7.00%. |
| Processing Fee: | 1.00% - 1% (1.05% inclusive of VAT) of loan amount, min AED 500 and max AED 2,500. |
| Early Settlement Fee: | 1.00% - 1% (1.05% inclusive of VAT) of outstanding loan amount, max AED 10,000. |
| Late Payment Fee: | 2.00% - 2% (2.10% inclusive of VAT) of delayed amount, min AED 50, max AED 140. |
| Insurance Fee: | N/A - No credit life insurance required. |
Required Documents
Emirates ID, salary transfer letter, bank statements, loan application form.
Additional Benefits
Top-up option available after 12 months; buy-out facility from another financial institution.
Features:
Fixed monthly installments, flexible tenure, early settlement allowed.
General Notes
Cooling-off period of 5 working days applies.
