Overview.
Debt Consolidation Loan is a loan taken to pay off all your existing liabilities. All existing loans and credit cards will be consolidated into a single loan that is more favourable. The new loan might come at a lower rate of interest, flexible tenure terms and better benefits. A Debt Consolidation Loans can be used as an effective way to pay off debt.
Features
- Attractive loan amounts up to AED 1 Million
- Competitive interest rates
- Flexible repayment terms
- Personal Life Insurance coverage
Eligibility
- Salaried Employee earning minimum salary of 7,000
- Applicant must be 21 years of age or above
- The applicant must hold a valid passport copy and UAE residence visa
Required Documents
- Copy of valid Passport / Visa / Emirates ID (Originals must also be presented)
- 3/6 month bank statements showing salary credit
- Salary certificate letter addressed to respective bank
- Application form duly filled & signed by customer
Fees and Charges
The rate of interest depends upon your salary however there is also a processing fee for 1% and insurance fee of 1.25% once you are approved for loan, which can be vary within different banks.
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