Dubai Islamic Bank Personal Loan
Dubai Islamic Bank Personal Loan
Personal loans from Dubai Islamic Bank are a popular financial product. There are two broad categories under which Dib offers personal finance to its customers.
Dubai Islamic Bank Al Islami Goods Finance for UAE Nationals
This personal loan has been designed specifically by the bank for catering to the purchase of goods such as furniture and electronics
Dubai Islamic Bank Al Islami Salam Finance for UAE Nationals
Al Islami Salam personal finance scheme is for UAE nationals who require cash up front
You’re probably eligible for Dubai Islamic Bank Personal Loan if you are
Dubai Islamic Bank Personal Loan Minimum Age
At least 21 years old
Dubai Islamic Bank Personal Loan Maximum Age
60
Dubai Islamic Bank Personal Loan Eligible Employment Type
Salaried / Self – Employed with regular income
Dubai Islamic Bank Personal Loan Minimum Income
Earn more than the minimum income required
Your Dubai Islamic Bank Personal Loan amount eligibility is based on these factors
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Dubai Islamic Bank Personal Loan Minimum Salary
Minimum income required AED 3000 per month
Dubai Islamic Bank Personal Loan Maximum Loan Funded
Maximum allowed personal loan is AED 2,000,000
Dubai Islamic Bank Personal Loan EMI
EMIs of other loans lower your eligibility
Increase your eligible Dubai Islamic Bank Personal Loan amount by these steps
01
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Dubai Islamic Bank Personal Loan Payoff Outstanding Credit Card Bills
Pay off your credit card bills
Dubai Islamic Bank Personal Loan Tenure
Choose longer tenure loan up to 4 years
Documentation needed to apply for Dubai Islamic Bank Personal Loan
1. Quotation for the required Goods addressed to Dubai Islamic Bank
2. Copy of Passport (with Residence visa for expatriates)
3. Salary and the End of Service Benefit Transfer Letter/Certificate from the employer
4. Security Cheque equivalent to total Murabaha amount.
Dubai Islamic Bank Personal Loan Interest Rates
Updated on 19 Mar 2016
Dubai Islamic Bank Personal Loan Details
Interest Rate (Monthly reducing balance) No info
Processing Fees No info
Loan Tenure 4 Years
Features of Dubai Islamic Bank Personal Loan
Personal Loans from DIB can be availed for any miscellaneous expense that you may face in your everyday life. From a vacation in Europe to buying a new electronic gadget, you can now sit back and spend without having to worry about burning a hole in your pocket. DIB personal loans are popular because of some amazing features a few of which are listed below.
Fast Loan Processing:
DIB has a rapid turnaround time on their personal loan applications. Hence, you need not wait for days and weeks to get the loan disbursed to your bank account. Meet your financial needs as soon as they arise and enjoy a hassle-free banking experience.
Flexible Loan Tenure:
The loan repayment tenure is flexible and can be repaid in a maximum of 4 years. The loan tenure can range between 12 months and 48 months.
Documents Required:
Valid Emirates ID.
Last six months bank statements.
Salary Transfer Letter.
Liability or Clearance Letter. (for buyout cases)
Salary Certificate.
Valid passport for UAE Nationals.
Eligibility Criteria:
Minimum salary required – AED 5,000 per month
Eligible Age – At least 21 years of age
Nationality – UAE national or Expat staying in UAE
Employment Status – At least 3 years of service with the current employer
Benefits of Dubai Islamic Bank Al Islami Goods Finance for UAE Nationals
Al Islami Goods Finance for UAE Nationals is a popular finance scheme from Dubai Bank. Here are some of the most significant benefits of this personal loan.
Following are some of the distinct features of DIB Salary Transfer personal finance scheme:
Low repayments make this loan ideal to avail
A nominal processing fee is charged on this DIB personal loan
The rate of interest is calculated on a reducing basis and is also subject to factors like customer’s salary and whether that salary is transferred to the bank.
Higher loan amounts can be availed as compared to other personal finance schemes
Salary transfer to the bank is not required for availing this loan
Fast loan approval ensures that the loan amount is disbursed to your account within a short period of time
Flexible loan tenure of up to 48 months. This means that you can plan your monthly installments according to your monthly budget
Upfront cash payment is made to the customer
If salary is not transferred and company is not listed with the bank then minimum salary required goes up
Early settlement fee is nil
Other specifications of Dubai Islamic Bank Al Islami Goods Finance for UAE Nationals
Nationality of applicant: UAE Nationals
Flat Rate on interest applicable – 6.00%
Reducing Rate applicable – 10.97%
Min. Salary required – AED 3,000 per month
Max. Loan Amount – AED 2,000,000
Max. Repayment Period – 4 years or 48 months
Processing Fee – AED 825
Early Settlement Fee – 0.00%
Insurance Fee – 0.00%
Islamic Banking Product – Yes
Salary Transfer Required – No
Benefits of Dubai Islamic Bank Al Islami Salam Finance for UAE Nationals
Al Islami Salam Finance for UAE Nationals is a popular finance scheme from Dubai Bank. Here are some of the most significant benefits of this personal loan.
Following are some of the distinct features of DIB Salary Transfer personal finance scheme:
Low repayment options are a plus which do not burden the customer with hefty loan repayments
Minimum processing fee is charged on this personal finance scheme from DIB
The rate of interest is on reducing basis and is subject to factors like customer’s salary
Higher loan amounts can be availed as compared to other personal finance schemes
Salary transfer to the bank is not required for availing this loan
Fast loan approval ensures that the loan amount is disbursed to your account within a short period of time
Flexible loan tenure of up to 48 months which means you can choose to pay off at a pace that is most suitable to you
Upfront cash payment is made to the customer
If salary is not transferred and company is not listed with the bank then minimum salary required goes up
Early settlement fee is nil which enables you to pay off your loan earlier than the stipulated time frame
Other specifications of Dubai Islamic Bank Al Islami Salam Finance for UAE Nationals
Nationality of applicant: only for UAE Nationals
Flat Rate on interest applicable – 6.00%
Reducing Rate applicable – 10.97%
Min. Salary required – AED 3,000 per month
Max. Loan Amount – AED 5,000,000
Max. Repayment Period – 4 years or 48 months
Processing Fee – AED 825
Early Settlement Fee – 0.00%
Insurance Fee – 0.00%
Islamic Banking Product – Yes
Salary Transfer Required – No
Other Products from Dubai Islamic Bank
DIB Credit Cards
DIB Car Loan
DIB Home Loan
About Dubai Islamic Bank
Dubai Islamic Bank, DIB, is a leading bank in the UAE and specializes in Islamic banking. Islamic banking currently is one of the fastest growing banking segments of the world and the Dubai Islamic bank has shown exceptional growth and innovation in the same.
Dubai Islamic Bank was created in the year 1975 and is the first bank of UAE to incorporate all the principles of Islamic banking. The bank currently has over 62 branches across UAE. DIB aims to become the most progressive Islamic financial institution of the world and has a mission of becoming the most preferred Islamic entity to bank with, among the customers.
The bank has several accolades to its name for best customer experience, best Islamic card, the best regional commercial bank and so on. Following are the various kinds of loans offered by Dubai Islamic Bank for all your urgent financial needs.