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    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

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    Documents require for Buyout Loan

    Basic documents to apply for a Buyout loan are:

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

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    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.

    Balance Loan Amount

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

    Flexible Repayment Options

    Get maximum repayment tenure upto 48 Months in Buyout loan.

    Minimum Documentation

    Documentation for Buyout loan in very easy and same as salary transfer loan.

    Salary Transfer Loan - Eligibility

    Any salaried, self-employed or professional Public and Private companies, Government sector employees including Public Sector is eligible for this type loan.

    Age Criteria

    Minimum age of the Loan applicant shouls be 21 Years and maximum age of applicant at loan maturity should be 60 years for expatriates and 65 years for Emiratis

    Income

    To apply for a non salary transfer loan, Minimum Net Monthly Income should be AED 5000

    Employment Tenure

    Applicant should have completed 6 months with the employer or should be a on paper confirmed employee.

    Company Listing

    As in Buyout loan you have to transfer your salary to the lending bank, mostly bank provide loans to their approved listof company employees.

    Credit Score

    A credit score has become the most important factor in applying a loan in UAE. None of the banks in the UAE process a loan without studying the credit report of the applicant.

    Frequently Ask Questions

    If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.

    Income proof is one of the mandatory document to apply for any loan in the UAE.

    Minimum salary to apply for a loan in UAE is AED 5000, however eligibility differs bank to bank.

    Yes, if your company is not listed still you can apply for a non-salary transfer loan in UAE, however you should meet all eligibility criteria.

    Yes, any salaried or self-employed expat working in UAE can apply for non-salary transfer loan.

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    Now apply for a Personal online, All you need to do is provide your details below application form.

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