A bank in UAE announced on Wednesday that it is extending its loan limit for average earners to nearly Dh200,000.
UAE bank Emirates Islamic said that the minimum income requirement for applicants is Dh7,500. The offering will be available until May 8, 2018.
The loan offer is open to existing customers, first-time borrowers and customers who wish to transfer their finances to Emirates Islamic.
Moreover, both UAE residents and expatriates can avail of the loan.
The move is done in anticipation of a change in consumer spending and behavior during the Ramadan and summer season.
“As we approach the holy month of Ramadan and subsequently the summer holiday season, our customers tend to seek a range of financial solutions for their varying needs,” Wasim Saifi said.
“We are pleased to announce this offer whereby customers can avail up to 20 times their salary for personal finance. Moreover, with our fast turnaround times, high financing limits and seamless paperwork, we expect our customers to make the best of this offer, whether it is to settle debts, plan a holiday or invest back home,” stated Saifi.
NOTE: Photo featured in the article was taken from Trade Arabia.
