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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

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

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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%.