CBI Personal Loan

Minimum Salary
8.000,00 د.إ

Flat Rate
4.49%

Reducing Rate
AED 5.99%

Maximum Term
4 Years

Monthly Payment
AED 2,450

Description

Commercial Bank International (CBI) offers salaried personal loans with interest rates from 4.5% to 9.25% p.a., flexible tenures up to 48 months, and a transparent fee schedule. Borrowers benefit from high salary multiples, optional insurance cover, instalment deferments, and loyalty rewards.

Features

Interest Rates and Loan Amounts

CBI’s personal loans carry reference interest rates that vary by applicant profile and tenure:

Indicative rates from 5% to 9.25% p.a.
Loan amounts from AED 15,000 up to approved limit (based on salary multiples, up to 20× monthly salary).
Tenures between 12 and 48 months for most customers; up to 60 months for UAE Nationals in selected segments.

Eligibility Criteria

Applicants must meet CBI’s salary-transfer and credit requirements:

Age: 21–60 years at loan maturity.
Minimum Salary: AED 8,000 per month credited to a CBI account.
Employment: Confirmed service; minimum 6 months with approved employer for Expats, or 3 months for Nationals.
Credit History: Consent to Al Etihad Credit Bureau check required.

Schedule of Fees and Charges

Fee Type	Charge
Processing Fee	1% of loan amount (Min AED 500, Max AED 2,500) + 5% VAT
Missed Payment Interest	2% of delayed amount (Min AED 50, Max AED 200)
Instalment Deferment	AED 100 per deferment
Early Settlement Fee	1% of outstanding balance (Max AED 10,000)
Partial Payment Fee	1% of amount paid (Max AED 10,000)
Loan Cancellation Fee	AED 250 (applies if cancelled after processing)

Documents Required

To apply, submit:

Duly completed CBI personal loan application form.
Copy of valid passport (and UAE residence visa for Expats).
Copy of Emirates ID.
Recent salary certificate or salary transfer letter (issued within 30 days).
Last 3 months’ bank statements (if salary not yet in CBI).
Statement of existing liabilities or loan clearance letters.
Signed credit bureau consent form.

Additional Info

High Salary Multiples: Borrow up to 20× your monthly salary, enhancing funding power.
Flexible Tenures: Choose repayments over 12–48 months (up to 60 months for selected Nationals).
Optional Credit Life Insurance: Covers death or critical illness; premiums can be added to instalments.
Instalment Deferments: Postpone repayments at a nominal fee, up to bank-defined limits.
Overdraft Facility: Option for overdraft on CBI current account for added liquidity.
Pre-Approved Rewards Card: Eligible borrowers may receive an awards credit card with no annual fees.
Digital Convenience: Online application, instant eligibility check, and 24/7 banking services.