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Salary Transfer Loan in UAE
Apply and get Loan up to 20 times of your salary at lowest interest rate in UAE. Transferring your monthly salary to lending bank could provide you a lot of benefits. Low interest rates, Flexible repayment options, free Credit Card and lot more. To apply for a Loan in this category applicant need to provide a Salary Transfer Letter from the employer. Mostly top Organisation or listed company employees are eligible to apply for the same.
This Loan category in UAE is considered as a secured Loan in, as the applicant needs to transfer his/her Salary to the Lending Bank to avail any Loan services. It gives you a privilege to avail high volume of Loan amount i.e up to 20 multiples of your salary at a lower Interest Rate in comparison to Loan without any salary transfer where the Interest Rate charged is quite high.
Transferring you salary to lending bank also gives you other benefits like Pre-approved Credit Cards, Over Draft facilities and much more. Transferring salary to lending bank reduces the risk factor for the bank to lend and hence there are more chances of getting your loan approved.
Mostly this category of Loans are designed for the people working under approved list of companies by the bank.
Uae Cash Loans – we help individuals assess their credit worthiness and to choose the best personal loan at lower interest rate in UAE market.
- Minimum age of the applicant should be 20 years and maximum 60-65 years old.
- Minimum salary of the loan applicant must be AED 5000 or above.
- Loan applicant must have a clear and healthy credit score with a minimum score of 650 or above.
- Loan applicant must have completed 6 month in the current organization or should be on paper confirmed employee.
- Loan applicant must be ready to transfer salary to lending bank.
- Loan applicant must provide Passport Copy, Visa Copy and Emirates ID Copy.
- Loan applicant must provide a valid Salary Certificate or Payslip
- Loan applicant must provide 3 to 6 month Salary account statement showing regular salary credits.
- Loan applicant must provide a valid Salary Transfer Letter address to lending bank as per the bank format.
- In Case of Buyout Loan, applicant have to provide Liability Letters of all existing liabilities.