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Nominal interest rates

No guarantors

Minimum documentation

Buyout Loan

Sometimes we get stuck with the liability of paying multiple loans or even outstanding credit card debt and they have all varying balances due at different interest rates. In such a case, banks offer you an option of Buyout or Debt Consolidation  where the bank consolidate all your liabilities and you only have one loan and one installment to pay. The bank gives you one single loan for an eligible amount as per your need, using which you can pay off all your past dues. It makes it easier to work out a time frame to pay off your debt without getting overwhelmed.

Features of buyout loan

All loans are not created equal, personal loan has become a great option for people to use.

Consolidation of loans

You can consolidate all your loans and credit cards into one easy installment.

Access to Additional Funds

You can access the remaining loan amount for your personal use after paying off all your debts respectively.

Minimum Documentation

Documentation for buyout loans is very easy and almost the same as salary transfer loan.

Flexible Repayment Options

Consolidate and get maximum repayment tenure up to 48 Months.

Buyout Loan - Eligibility

Any salaried, self-employed, or professional is eligible for a buyout loan.

Monthly Income

To apply for a Salary Transfer Loan in UAE, the minimum fixed monthly income should be AED 5000 or above.

Good Credit History

A minimum credit score of 650 has become the most important factor in applying for a loan or any financial product in UAE.

Debt Burden Ration

The maximum permissible DBR is 50% for salaried and self-employed applicants and 30% for pensioners, as stipulated by the Central Bank.

Documents Require for Buyout Loan

Expatriates

  • Passport Copy
  • Visa Copy
  • Emirates ID
  • Bank statement
  • Income Proof
  • Salary Transfer Letter
  • Liability Letter

UAE Locals

  • Passport Copy
  • Emirates ID
  • Bank statement
  • Income Proof
  • Salary Transfer Letter
  • Liability Letter

Top Buyout Loan providers in UAE

Compare 10+ personal loan options & check eligibility saving you time/ money

Emirates Islamic Bank
RAK Bank
Dubai Islamic Bank
ADCB Bank
ADIB Salary Transfer Loan

Get Started Simple & Securely

Our focus is to avail our visitors with complete and transparent information about loans and other financial products in the UAE market.

Gulf Finance provides you an instant comparison on rates, eligibility, and other features before applying for any financial product and helps to save time and money.

Just 3 step away

  • 1. Fill the online form. Apply Now
  • 2. Fill in the mandatory details, & click Submit
  • 3. Bank representative will get in touch with you in 60 minutes

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Frequently Asked Questions

Yes, an auto loan can be consolidated, however, policies may differ from bank to bank.

Debt burden ratio is the ratio of total monthly installment/commitments of credit cards, loans, or any other committed monthly repayments to the total income of an individual.

Yes, but after the consolidation of all loans and cards, your DBR should not reach above 50%.

Disclosure Policy:

  • APR or Annual Percentage Rate of personal loan may range from 2.79% to 34% in the UAE.
  • The minimum loan repayment tenor is 6 months and the maximum loan repayment tenure is 48 months.
  • Processing Fee: 1% of the loan amount with a minimum of AED 500 and up to a maximum of AED 2,500
  • Maximum loan amount: AED 1000000

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