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Non Salary Transfer Loan

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Non Salary Transfer Loan

It is an unsecured loan taken by individuals from a bank or a non-banking financial company (NBFC) on the basis of his salary to meet their personal needs ~ terms and conditions apply.

Overview

Loan without a commitment of salary transfer to a specific bank is Non-salary transfer loan. Often it is expensive as compared to Salary transfer loan and loan amount would be a maximum of 5-8 multiples of salary.

Eligibility Criteria
  1. Salary: 5k & above
  2. Age: 21 to 60 years
  3. Length of service: 6 months or confirmed.
  4. Company: Open for both listed & non-listed companies.
  5. AECB: Existing credit history is preferred, though not mandatory.
Mandatory Requirements
  1. A valid copy of Passport, Resident visa, and Emirates ID.
  2. Salary certificate/Payslips.
  3. 3 months bank statement.