Highlights
Competitive interest rates
High loan amounts
Flexible repayments
No minimum balance
Top features
Features and benefits
Interest rates are subject to individual profile and CBD credit analysis.
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High loan amounts for UAE nationals and residents
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Competitive interest rates
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Flexible repayment period up to 48 months for expats, 60 months for UAE nationals
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Current account with minimum balance requirement waived
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Top-up of existing CBD Personal Loan
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Buy-out or transfer of Personal Loan from other banks (with or without topping up the loan amount)
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Free Debit Card for purchases and withdrawals
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Deferment facility
Eligibility criteria
| If you are UAE National aged between 21 and 65 years (at the loan maturity) or if you are an Expatriate aged between 21 and 60 years (at the loan maturity). |
| If you are confirmed employee or with six months minimum length of service with a CBD approved employer. |
| If your total monthly income/salary is starting from AED 8,000*. |
*Terms & Conditions apply
Required documents
- Application form and loan agreement
- National ID, valid passport, residence visa and Emirates ID
- Original 3 months bank statement for new customers
- Salary transfer letter
Relevant links
Key Facts Statement
We kindly request you to carefully read and understand this document if you are applying for a Personal Loan from Commercial Bank of Dubai.
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AEDFAQs
Yes, if you are eligible as per Central Bank’s stipulated guidelines and as per CBD internal credit policy, CBD can buy out your existing loan from the other Bank. Not only that, if your eligibility permits, we can top up your loan as well. In this situation, you may want to note the following select terms:
Subject to approval of your CBD loan application, your total applied loan amount (outstanding with other bank as well as top-up amount) will be booked to your loan account. CBD will issue manager’s cheque for settling outstanding amount with the other bank and top up amount will be credited to customer’s account, a hold may be placed on such amount. The hold placed on the top-up amount will not allow customer to use this money till the time customer will submit to CBD, all required documents or till complying with any conditions stipulated by CBD.
It is important to note that even though top-up amount is kept under hold, interest is charged on the total amount including top-up amount that is kept on hold as explained above.
Also the monthly installment will be calculated basis the total approved/disbursed loan amount with agreed interest charged thereof. Any applicable charges and dues will also be calculated on the total approved / disbursed loan amount including top-up amount that is kept on hold and not accessible by the customer as explained above.
Therefore it is recommended by CBD to all customers availing buyout plus top-up Personal loans from CBD, to submit all required documents without any delay, preferably soon after loan is disbursed, in order to allow CBD to remove hold on top-up amount and for customers to enjoy access to top-up loan amount.
CBD offers all types of salary transfer Personal Loans as listed below:
- New Personal Loan
- Top-up of existing Personal Loan
- Buy-out / transfer of Personal Loan from other Bank (with or without topping up the loan amount)
WARNING
Product details given above are for the initial reference purpose only. Approval of any loan or facility will be at a sole discretion of CBD. Personal Loans are subject to Terms and Conditions as stipulated by CBD and the regulatory authorities in the UAE.
Please contact our call centre 600 575 556 for checking your eligibility for CBD Personal Loan and detailed Personal Loan terms as product availability depends on terms stipulated by the Central Bank as well as on the Bank’s internal credit policy.
Please carefully read all terms and conditions on CBD Personal Loan application form and also on Personal Loan agreement (both to be signed by you) as well as CBD General Terms and Conditions for avoiding any disappointments. You may also consult our Personal Loan Executives/Advisors as well as our representatives in branches or call centre for details or explanations, if required.
If you do not meet the repayments/payments on your credit card/loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future. For complete product details and warnings, please refer to the Key Facts Statement.
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