Personal loan is most common product in market in Dubai and in UAE any person having more than 5000 Dhrm Salary and working in listed company can avail loan some bank have criteria of 8000 Dhrm Salary but question is which is best suitable option in UAE market approximately 48 plus banks working in UAE so a person looking for best option get easily Confused but not now Leopardmoney will helps you to find best suitable option you don’t need to go outside in market and knock door of banks to ask about their Interest Rates like if you are looking for HSBC personal Loan or Noor Bank Personal Loan you will get all the information at one place.
Eligibility for Personal Loan:
5000-8000 salary required but it depends on Bank Policy.
These are some banks offering lowest interest Rates in UAE.
ADIB Personal Loan:
ADIB is one of strong Bank in UAE and also one of the oldest Bank in UAE Abu Dhabi Islamic Bank this bank is totally offering Islamic Products in markets and give maximum Cover Multiples
8000 plus Salary is must to Apply for ADIB Personal Loan and length of service must be more 5 year if you need 12 Multiple of the Salary. If length of service if less than 5 Year than 10 multiple of Salary you can avail.
If your Salary is more than 30 Thousand Dhrm then you can avail 17x multiple of the salary. ADIB have more than 5000 listed companies some companies are on hold but still there is space available Leoapardmoney will help you to find that your company is listed or not just fill the form to get call in 30 Minutes.
Interest Rate is 8-12 Percent reducing which means every installment you pay your Principle Amount will get increase and Interest amount will get Decrease.
9.99 are on an average interest Rate you keep in mind if you are planning to take Loan from ADIB.
When a person take loan from any Bank he can shift his/her Liability to other bank like a personal take loan From Dunia Finance now he get job in some other company which is listed with ADIB or another Bank which is offering low interest Rate like ADCB Personal loan he can shift liability to that bank which Document required to complete Buyout Process.
You have to take Liability Letter from your Bank and Letter should be address to bank form where you want to buyout your loan.
Credit Card Closing Letter and STL Salary transfer Letter from Company but companies mostly didn’t provide STL until you gave them NOC from Bank and Bank Didn’t provide NOC until they receive full and final settlement so all the process take approximately 15-30 Days because once you apply for Liability Letter from your concern Bank they will take near about Two week time to get ready your Letter so you can ask your company to provide simple Salary Letter to start the process so until your liability letter get ready by bank the ADIB or other bank person complete the formalities.
These are some basic Documents Required to Start the Process.
- Visa, Passport Cop
- 3-6 Month Bank Statemen
- Salary Transfer Lette
- 3-6 Month Pay slip if there is Variation in Salary.
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