Overview
In line with CBD’s commitment to help UAE Nationals to manage their debts better, we are pleased to announce our participation in UAE Central Bank’s initiative on Nationals Loans Scheme.
National Loan Scheme is an initiative by UAE Central Bank aimed at easing the debt burden of UAE Nationals by helping them in managing their debt settlements.
Eligibility Criteria
| National Loan Scheme | Criteria |
|---|---|
| Date of Finance | Origination date of the finance should be before MAY 2011 |
| DSR Eligibility | DSR with CBD should be greater than 50% for regular customers and for Pensioners greater than 30% |
| Tenure | Tenure should be > 4 Years for regular customers and for MOD customers tenure should be > 5 years |
| NLS scheme | Customer’s consent to be taken for participation in the NLS scheme |
| No additional facility | No additional facility to be granted to customers opting in under this scheme for the rest of the tenure of the facility by primary bank, any secondary bank or financial institution or finance company |
| Profit rate | Profit rate to be reduced to 3M EIBOR. |
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Key Facts Statement
We kindly request you to carefully read and understand this document, If you are applying for a CBD Al Islami Personal Finance from Commercial Bank of Dubai
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