Are you looking for extra cash to renovate your home, plan a wedding or your next holiday? Banks in the UAE have designed specific finance products to cater to the needs of UAE nationals. Whether you need the extra money out of a sheer necessity, for the purpose of investment or to simply improve your lifestyle, UAE nationals have a wide variety of personal finance products to choose from. Below are few examples of finance products exclusively for UAE nationals. Compare features, benefits and what you need to watch out for before making a decision.
Union National Bank Personal Loan for UAE Nationals
Great for: UNB’s Personal Loan for UAE Nationals provides a competitive interest rate of 2.37% p.a (flat rate). You have 48 months to repay this loan and can also get up to four installments deferred in one year, if eligible. And wondering how much you can borrow? A high finance amount of up to AED 6 million can be availed along with an installment free grace period for the first three months. There’s also an option to consolidate all your liabilities with this loan.
Be aware: Customers have to pay 1% arrangement/processing fee when taking out this loan.
Find out more features of the Union National Bank Personal Loan for UAE Nationals and apply online
Emirates Islamic Personal Finance for UAE Nationals
Great for: This finance is based on shari’a principles. Along with the funds for your expenses, you will also receive a pre approved credit card when you apply. What’s great is that the annual fees for the credit card will be waived off for the first year. If you transfer your salary, there is a minimum salary requirement of AED 5,000. If don’t transfer your salary, the minimum salary requirement is AED 12,000. Also, the loan amount is up to AED 3 million.
Be aware: You will have to transfer your salary for the low minimum salary requirement.
Find out more features of the Emirates Islamic Personal Finance for UAE Nationals and apply online
ADIB Personal Finance for UAE Nationals
Great for: ADIB offers financing solutions with a loan amount of up to 3 million for UAE nationals. Customers have an option of not paying the installments for the first three months. You can also benefit from ADIB’s Visa Cashback Card which will be free of charge for the first year. Borrowers are also covered by the takaful protection scheme. In case of job loss, your payments will be deferred under the ADIB job loss protection.
Be aware: Salary transfer is a requirement to apply for this finance.
Find out more features of the ADIB Personal Finance for UAE Nationals and apply online
ADIB Debt Settlement for UAE Nationals
Great for: If you’re looking to reduce the burden of your monthly finance payments, you can consolidate your liabilities with ADIB’s Debt Settlement finance for UAE nationals. Your repayments can be spread across 48 month and you can also postpone two payments in a year. This finance comes with an ADIB Visa Cashback card and ADIB job protection.
Be aware: Salary transfer is a requirement to apply for this finance.
Find out more features of the ADIB Debt Settlement for UAE Nationals and apply online
CBD Personal Loan for UAE Nationals
Great for: UAE nationals can avail a personal loan from Commercial Bank of Dubai with loan amounts of up to AED 2 million. You can make up to two installment deferments per year. Also, get free life insurance to cover outstanding loan amount with this finance which can protect you in case of unforseen events. You are also entitled to a current account and debit card with the minimum balance requirement waived off.
Be aware: You will have to pay an early settlement fee of 1%, if you decide to pay off the loan earlier than expected.
Find out more features of the CBD Personal Loan for UAE Nationals apply online
