Hey everyone! I’m looking into getting a personal loan from Emirates NBD Bank. Could someone share what the current interest rates and processing fees are? I want to understand the costs before applying—thanks a lot
Emirates NBD Personal Loan What You Need to Know
UAE National Rates
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You’re looking at around 2.75% fixed or 5.15% reducing if you’re Emirati
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They base your actual rate on what you earn and how long you want to take paying it back
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Citizens definitely get the sweet end of the deal here
Expat Rate Situation
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If you’re not a local, expect something closer to 3.03% fixed or 5.69% reducing
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Still not awful compared to what some other banks here will hit you with
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Your job and salary package play a big role in what they’ll actually offer you
The Full Picture on Rates
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Their fixed rates can go anywhere from 4.99% up to nearly 20% depending on your situation
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You get to pick between fixed or variable fixed means your payment stays the same
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Longer loans and riskier borrowers end up paying more, obviously
What They’ll Charge You Upfront
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Processing fee comes to 1.05% of your loan amount
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Smallest they’ll charge is AED 525, biggest is AED 2,625
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At least VAT is built into those numbers so they won’t surprise you later
If You Want Out Early
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Planning to pay it off ahead of schedule? They want 1.05% of whatever’s left
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Good news is they won’t charge you more than AED 10,000 for this
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Still annoying if you like having the option to pay things off when you get extra cash
How to Get Their Best Offer
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Having your salary come through Emirates NBD makes a huge difference
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If your company is on their preferred employer list, you’re in good shape
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Don’t just accept their first offer these rates have wiggle room
