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Invest Bank Personal Loan

Minimum Salary
0,00 د.إ

Description

Invest Bank provides fixed-rate, reducing-balance personal loans with interest rates from 4.99% to 19.99% p.a., salary multiples up to 20×, tenures up to 48 months, and transparent fees. Key advantages include low processing times, two annual instalment deferrals, debt-consolidation options, and mandatory life insurance for borrower protection.

Features

  1. Interest Rates and Loan Amounts
  • Reducing-Balance Interest Rate:99%–19.99% p.a., based on salary level, employer category, and relationship status (lowest rates for salaries ≥ AED 50,000).
  • Loan Amount: AED 15,000 up to 20× monthly salary (subject to Central Bank guidelines and internal credit policy).
  • Tenure: 12 to 48 months; up to 60 months for Ministry of Defence employees or as per internal segment rules.

 

  1. Eligibility Criteria
  • Age: 21–65 years (Nationals); 21–60 years (Expats) at loan maturity.
  • Salary: Minimum AED 5,000 per month credited to Invest Bank account.
  • Employment: Minimum 3 months confirmed service with approved employer; self-employed professionals require ≥ 2 years trading and UAE licence.
  • Credit Bureau: Minimum AECB score of 541 and consent to credit inquiry.
  • Salary Transfer & EOSB Assignment: Mandatory salary transfer and assignment of end-of-service benefits (if applicable) until loan closure.

Schedule of Fees and Charges

Fee Type Charge
Processing & Documentation Fee (New & Top-up) 1% of loan amount (Min AED 500, Max AED 2,500) inclusive of VAT
Early/Partial Settlement Fee Free for up to 20% of outstanding once per year; thereafter 1% of amount (Max AED 10,000)
Instalment Deferment Up to 2 per year; AED 200 per deferment
Loan Rescheduling Fee AED 250 per request
Late Payment Charge 3% of delayed amount (Max AED 700) per month
Life Insurance Premium 0.0175% per month on outstanding balance
Liability/No-Liability Certificate AED 60
Clearance Letter AED 85
Copy of Original Documentation AED 100
Deal Cancellation (Cooling-off) Full fee refund if cancelled within 5 calendar days

 

All fees inclusive of VAT unless stated otherwise.

Documents Required

  • Completed personal loan application form.
  • Passport copy (and valid UAE residence visa for Expats).
  • Emirates ID copy.
  • Salary transfer letter or salary certificate (issued within 30 days).
  • Last 3 months’ bank statements (if salary not yet with Invest Bank).
  • Promissory note and undated security cheque equal to 120% of loan amount.
  • Trade licence and MOA for self-employed applicants.
  • Signed AECB consent form.

Additional Info

  • Competitive Rates: Starting at 4.99% reducing balance for high earners.
  • High Salary Multiples: Borrow up to 20× salary, enabling substantial financing power.
  • Flexible Tenure: Repay over 12–48 months (60 months for select cases).
  • Quick Processing: Disbursal within 10 business days post documentation.
  • Debt Consolidation: Combine existing liabilities into one instalment at preferential rates.
  • Two Annual Instalment Deferrals: Manage cash flow with up to two free deferments per year.
  • Minimal Collateral: Unsecured facility requires only salary transfer and life insurance.
  • Transparent Fee Structure: No hidden costs; clear cap on processing and settlement fees.
  • Life Insurance Cover: Mandatory life cover protects both borrower and bank.
  • Digital Convenience: Online application tracking and SMS/Email updates throughout the process.

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