Deem Personal Loans

Minimum Salary
5.000,00 د.إ

Flat Rate
8.1%

Reducing Rate
15%

Maximum Term
36 Months

Monthly Payment
AED 7,180

Description

Deem Finance LLC is a UAE–licensed nonbank financial institution specializing in digital lending solutions. In addition to merchant financing, Deem offers unsecured Personal Loans to salaried individuals and business owners via its mobile app and partner platforms. These loans feature rapid approvals, minimal documentation, and repayments via direct debit.

Features

Profit Rate Range: 15.00%–20.00% per annum on a reducing-balance basis
Rate Determination: Final profit rate is based on applicant’s credit profile, employment sector, and banking relationship

Facility Details

Loan Amount: AED 10,000 – AED 200,000
Tenor: 6 – 36 months
Repayment: Equal monthly installments by direct debit from a UAE bank account
Floating Rate: Profit rate fixed at origination, no linkage to EIBOR

Fees & Charges

Processing Fee: AED 500 or 1.0% of the approved loan amount, whichever is higher
Early Settlement Fee: 1.0% of the outstanding balance
Late Payment Fee: AED 100 per missed installment
Rescheduling Fee: AED 100 per request
No-Objection Certificate Fee: AED 50 on request

Eligibility Criteria

Age: 21 – 60 years
Minimum Salary: AED 5,000 per month (salary must be credited to a partner bank account)
Employment Tenure: Minimum 6 months with current employer
Banking Relationship: at least 3 months of salary credits with Deem’s partner banks
Residency: UAE nationals, GCC nationals, and UAE-resident expatriates with valid Emirates ID and visa

Documents Required

Valid Emirates ID and passport copy (expats)
Latest salary certificate or salary transfer letter
Last 3 months’ bank statements reflecting salary credits
Completed online application form via Deem mobile app or partner portal

Additional Info

Pre-Screening: Instant credit check and preliminary decision within minutes.
Final Approval: Full assessment completed within 24 – 48 hours.
Disbursement: Funds transferred directly to the applicant’s bank account upon approval.