• Salary Linked Personal Loan

Your trusted partner for dreams coming true.

Easy and flexible loan repayment options.

Salary Linked Personal Loan

  • Key Features
  • Eligibility
  • Charges
  • Warning Box

Salary Linked Personal Loan : Key Features

  • Higher limit up to AED 500,000
  • Repayment period up to 48 months
  • Competitive rate of interest
  • No Hidden Charges
  • Interest charges on Daily Reducing Balance

Salary Linked Personal Loan : Eligibility

  • Individuals salaried employees
  • Tenor – Max. 48 Months
  • Limit- Min. – AED 10,000 Max. AED 500,000

Salary Linked Personal Loan : Charges

Interest Rates

 

Monthly Income Range

Interest Rate
(Reducing Balance)

Up to  AED 10,000

10.00% p.a.

More than AED 10,000 to AED 25,000

9.00% p.a.

More than AED 25,000

8.00% p.a.

Processing Fees

1.00% of loan amount with min. AED 500/- plus VAT

Salary Linked Personal Loan : Warning Box

Debt Management Tool/Guidelines as per Compliance of Consumer Protection Standards of CBUAE

WARNING:
- If you do not keep up your repayments/payments, you may end up paying more in interest/profit
- You may have to pay penalties if you pay off a loan/financing early
- Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future
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Frequently Asked Questions (FAQs)

  • What is a salary-linked personal loan?

    A salary-linked personal loan is a type of private loan where the borrower's income acts as collateral, and monthly loan installments are deducted automatically from the borrower's salary account.

  • Who is eligible for a salary-linked personal loan from Bank of Baroda UAE ?

    Eligibility for Bank of Baroda UAE's salary-linked personal loan:

    • Salaried employees working for UAE-based organisations
    • Monthly income of AED 2,500 or more

    Loan details:

    • Maximum loan limit: AED 500,000
    • Payback period: Up to 48 months
  • What is the interest rate for a salary-linked personal loan?

    You can avail Top up Loan maximum up to residual period of existing Home Loan.

    Monthly Income Range Interest Rate
    (Reducing Balance)
    Up to  AED 10,000 10.00% p.a.
    More than AED 10,000 to AED 25,000 9.00% p.a.
    More than AED 25,000 8.00% p.a.

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