How to obtain UAE citizenship by marriage?

This article favors you if you are a lady reading this blog. Sorry to all the men out there dreaming of living king-size in UAE by getting married to Emirati women. The bitter truth is a woman cannot pass on her Emirati citizenship in UAE. Sadly women are considered dependent citizens in this country, regardless of their living independently.

How to obtain UAE citizenship by marriage?

1. There are different rules for men and women.

Men and women do not enjoy equal rights in UAE. If you are a man marrying an Emirati woman, you won’t be entitled to UAE citizenship.

A woman can always get Emirati citizenship as a dependant on her husband, provided he is an Emirati citizen. Also, women in UAE cannot pass on their citizenship to anyone since they are considered dependent citizens. Also, please remember that if a man marries an Emirati woman, he won’t be able to get Emirati citizenship due to being married to her, no matter how long his relationship lasts.

2. Remain married for three years to acquire citizenship

If you choose to marry an Emirati man, you won’t be directly eligible for citizenship until you complete 3 years of marriage with that person. Also, this rule only applies to women who marry an Emirati man.

3. Revoke your original citizenship

Sadly UAE doesn’t consider dual citizenship. Thus, you will have to give up on your country’s citizenship to hold citizenship in UAE successfully. You may contact the embassy or consulate of your country to revoke the citizenship of your country of origin.

FAQs

1. Can foreigners marry Emiratis?

If one wishes to marry an Emirati citizen, getting a marriage license from the local court is necessary. Also, the couple must agree to the marriage, and both should practice Islam. Moreover, if one of the partners has recently converted to Islam, it must be confirmed.

2. Is it hard to get UAE citizenship?

It depends on the willingness of the person trying to get citizenship in the UAE. There could be several ways through which UAE citizenship could be acquired. However, it will always be difficult for men to get citizenship in UAE.

One method of getting citizenship could be naturalization. This method requires the foreign citizen to live for 30 years or more in the territory of the Emirates. Also, he/she must have a regular source of income and an unblemished reputation. Moreover, they should be fluent in Arabic and voluntarily revoke the citizenship of their country of origin.

3. Does UAE give citizenship to Indians?

Yes, Indians can acquire Emirati citizenship by naturalization, provided they live in the country for 30 years. Also, if a foreign woman chooses to marry an Emirati, she must complete 3 years of marriage to obtain her citizenship.

4. Is the UAE passport powerful?

As per the Arton capital, the United Arab Emirates passport is the world’s number one due to mobility and freedom from travel restrictions. Though the UAE has blacklisted the below-listed countries in terms of freedom and mobility:

Germany
Sweden
Finland
Luxembourg.

5. Can Muslims marry non-Muslims in UAE?

The law permits Muslim men to marry non-muslim women. A Muslim woman is not allowed to marry a non-muslim man. If the marriage must take place, the non-muslim man should show his proof of conversion.

Dubai Islamic Bank Personal Loan Interest Rate

Omar Mohan

Explore the competitive interest rates and flexible terms Dubai Islamic Bank offers on their personal loan. Learn about the features, benefits, and eligibility criteria for availing of a personal loan from DIB.

Dubai Islamic Bank (DIB) is one of the leading Islamic banks in the United Arab Emirates (UAE) that offers its customers a range of financial products and services. One of the most popular products that DIB offers is its personal loan.

In this article, we will take a detailed look at the interest rate on DIB’s personal loan, as well as the features and benefits of the loan.

Interest Rate on Dubai Islamic Bank Personal Loan

DIB’s personal loan interest rate is among the most competitive in the UAE. The bank offers both fixed and variable interest rates on its personal loan, depending on the customer’s preference.

The fixed interest rate is set at the time of loan disbursement and remains unchanged throughout the loan tenure. On the other hand, the variable interest rate is linked to the bank’s benchmark rate and may change during the loan tenure.

The interest rate on DIB’s personal loan varies depending on the loan amount, loan tenure, and the customer’s creditworthiness. The bank also offers different interest rates for UAE nationals and expatriates. As of 2021, the interest rate for UAE nationals ranges from 2.99% to 6.99%, while the interest rate for expatriates ranges from 4.49% to 8.49%.

Features of Dubai Islamic Bank Personal Loan

DIB’s personal loan offers a range of features that make it an attractive option for customers. Some of the key features of the loan include:

High loan amount: DIB offers personal loans of up to AED 1.5 million for UAE nationals and up to AED 500,000 for expatriates.
Flexible repayment tenure: Customers can choose from a range of repayment tenures, from 1 to 5 years, depending on their financial needs and capabilities.
No salary transfer required: DIB’s personal loan does not require customers to transfer their salary to the bank.
Minimum income requirement: DIB’s personal loan has a low minimum income requirement of AED 3,000 per month for UAE nationals and AED 5,000 per month for expatriates.
Quick approval and disbursal: DIB’s personal loan application process is quick and efficient, with loans being approved and disbursed in a matter of days.

Benefits of Dubai Islamic Bank Personal Loan

DIB’s personal loan offers a range of benefits to customers, including:

Competitive interest rates: As mentioned earlier, DIB’s personal loan interest rates are among the most competitive in the UAE.
High loan amount: The high loan amount of up to AED 1.5 million for UAE nationals and up to AED 500,000 for expatriates makes it easy for customers to meet their financial needs.
Flexible repayment tenure: The flexible repayment tenure of up to 5 years allows customers to choose a tenure that best suits their financial situation.
No salary transfer required: The absence of a salary transfer requirement makes it easy for customers to apply for and avail the loan.
Low minimum income requirement: The low minimum income requirement of AED 3,000 per month for UAE nationals and AED 5,000 per month for expatriates makes it easy for a wide range of customers to avail the loan

Eligibility Criteria

To be eligible for a Dubai Islamic Bank personal loan, customers must meet the following criteria:

Minimum age: 21 years
Maximum age: 65 years (60 years for expatriates)
Minimum income: AED 3,000 per month for UAE nationals, AED 5,000 per month for expatriates.

Documents Required

Customers are required to submit the following documents when applying for a Dubai Islamic Bank personal loan:

Personal bank account statements
Salary certificate (for salaried individuals)
Trade license/partnership agreement (for self-employed individuals)
Valid passport/Khulasat Al Qaid (for UAE nationals)
Valid Emirates ID (for UAE nationals)
Valid residence visa (for expatriates)

Other documents may be required depending on the customer’s eligibility and the type of loan being procured. It is advisable to contact the nearest branch for more details.

Comparison with Other Banks

To better understand DIB’s personal loan interest rate, it is important to compare it with other banks in the UAE. For example, the interest rate for a personal loan from Abu Dhabi Islamic Bank (ADIB) ranges from 4.99% to 10.99%. On the other hand, the interest rate for a personal loan from Mashreq Bank ranges from 3.49% to 10.49%.

As can be seen, DIB’s interest rate is generally lower than other major banks in the UAE.

Table: Comparison of Personal Loan Interest Rates of Different Banks in UAE

Bank	Interest Rate (Fixed)	Interest Rate (Variable)
Dubai Islamic Bank	2.99% – 6.99%	N/A
Abu Dhabi Islamic Bank	4.99% – 10.99%	N/A
Mashreq Bank	3.49% – 10.49%	N/A

Dubai Islamic Bank’s personal loan offers a range of features and benefits that make it an attractive option for customers. The bank’s interest rate is among the most competitive in the UAE, and the loan amount, repayment tenure, and minimum income requirement are all favorable for customers. Additionally, the bank does not require customers to transfer their salary, making the loan application process even more convenient. Overall, DIB’s personal loan is a great option for customers looking for a reliable and affordable loan solution.

FAQs

Is Dubai Islamic Bank interest-free?

Dubai Islamic Bank (DIB) operates on the principles of Islamic finance, which prohibits the charging or paying of interest. Instead, DIB offers profit rates on its financial products and services, including personal loans. This means that the bank shares a portion of its profits with customers instead of charging interest on loans.

DIB’s personal loan offers a range of features, including high loan amount, flexible repayment tenure, and low minimum income requirement. Moreover, DIB’s personal loan does not require a salary transfer, which makes it easy for customers to apply for and avail of the loan.

What is the interest rate for personal loans in UAE?

The interest rate for personal loans in UAE varies depending on the bank and the loan amount. Typically, interest rates range from around 3% to 9%. However, some banks may offer lower or higher rates depending on the customer’s creditworthiness and other factors. Shopping around and comparing rates from different banks before applying for a personal loan is important.

Additionally, it is important to consider the terms and fees associated with the loan and the interest rate to get the best deal. It is also important to note that some banks in UAE offer Islamic finance based on principles of Islamic banking and are interest-free.

Which bank gives the lowest interest rate for personal loans in UAE?

The interest rate for personal loans in UAE varies among different banks. However, some banks are known to offer lower interest rates than others. Some banks known to offer low-interest rates on personal loans include Dubai Islamic Bank, Emirates NBD, ADCB, Abu Dhabi Islamic Bank, RAKBANK, and Mashreq Bank.

It is important to note that the interest rate offered can vary based on the loan amount, loan tenure, and the customer’s creditworthiness. Therefore, comparing the interest rates of different banks and carefully reviewing the terms and conditions before applying for a personal loan is recommended.

Dubai Islamic Bank Car Loan Interest Rates

Omar Mohan

Purchasing a car is a big investment, and developing the funds to make it happen can be challenging. Fortunately, plenty of options are available to help you finance your dream vehicle, including car loans from banks.

Dubai Islamic Bank is a leading provider of sharia-compliant financial services in the United Arab Emirates, offering its customers a range of car loan options with competitive interest rates and flexible repayment terms.

In this article, we will explore the current car loan interest rates at Dubai Islamic Bank and provide information on how to apply for financing to purchase your dream vehicle. We will also discuss the requirements and terms for DIB car loans and the benefits of choosing Dubai Islamic Bank for your car loan needs.

Car Loan Options

Dubai Islamic Bank offers a range of car loan options to suit different needs and budgets. The bank’s car loans are available for purchasing both new and used cars and can be customized to meet your specific requirements. You can choose from different loan tenures and repayment frequencies to find a car loan that fits your financial situation.

Dubai Islamic Bank Car Loan Interest Rates

Car Loan Type	Minimum Salary	Flat Rate	Reducing Rate	Loan Amount	Early Settlement Fee	Arrangement Fee	Down Payment	Repayment Period	Additional Features
Al Islami Used Car Finance	AED 3,000	2.75%	5.19%	AED 1,500,000	1%	AED 2,500	20%	Up to 60 months	No salary transfer is required, with the option to finance accessories and insurance.
Al Islami New Car Finance	AED 3,000	2.35%	4.42%	AED 1,500,000	1%	AED 2,500	20%	Up to 60 months	No salary transfer is required, with the option to finance accessories and insurance.
Step up Finance	AED 3,000	3.25%	6.11%	AED 500,000	1%	AED 2,500	20%	Up to 60 months	No salary transfer is required.

Advantages of Dubai Islamic Bank’s car loans

1. Competitive Interest Rates

One of the critical advantages of Dubai Islamic Bank’s car loans is the competitive interest rates offered. The bank’s interest rates are among the most competitive in the market and are designed to make it easy for you to afford your car loan. The bank also offers flexible repayment terms, so you can choose a repayment schedule that suits your needs and budget.

2. Additional Benefits

In addition to the competitive interest rates and flexible repayment terms, Dubai Islamic Bank’s car loans also come with various additional benefits. These include:

No down payment required: You can finance the entire cost of your car with Dubai Islamic Bank without having to make a down payment.
No hidden fees or charges: The bank’s car loans come with no hidden fees or charges, so you know exactly what you’re paying for.
Quick and easy application process: You can apply for a car loan online or at any of the bank’s branches, and the process is quick and easy.
Personalized customer service: The bank’s team of expert advisors is available to help you through every step of the car loan process, from application to repayment.

3. Interest-Free Car Loans

Dubai Islamic Bank offers its customers a range of interest-free financing options, including car loans. These financing options are based on the principles of sharia-compliant banking, which prohibits the charging of interest on loans.

Instead of charging interest, the bank generates profits through alternative means, such as profit-sharing arrangements with borrowers.

FAQs

1. Is Dubai Islamic Bank interest-free?

Dubai Islamic Bank offers its customers a range of interest-free financing options, including car loans. These financing options are based on the principles of sharia-compliant banking, which prohibits the charging of interest on loans. Instead of charging interest, the bank generates profits through alternative means, such as profit-sharing arrangements with borrowers.

Dubai Islamic Bank’s interest-free car loans offer a range of benefits to customers, including competitive rates, flexible repayment terms, and no hidden fees or charges. The bank’s expert advisors are available to help customers through every step of the car loan process, from application to repayment.

Overall, Dubai Islamic Bank’s interest-free car loans are a convenient and affordable way to finance the purchase of a new or used car in Dubai without paying interest on the loan.

2. How to get a car loan from Dubai Islamic Bank?

To apply for a car loan from Dubai Islamic Bank, determine your budget and gather the necessary documents. You can apply online or in person with the help of an expert advisor. If approved, you will receive a loan offer, sign the agreement, provide the necessary documentation, and purchase a new or used car.

3. Which bank in Dubai is best for a loan for a car?

It is difficult to determine which bank in Dubai is the best for car loans. Depending on your financial situation and needs, different banks offer different rates and terms that may be more or less favorable. Some banks may offer lower interest rates, while others may have more flexible repayment terms or other perks such as no down payment or hidden fees.

To find the best car loan for you, it is recommended that you shop around and compare offers from multiple banks. Be sure to consider factors such as the interest rate, repayment terms, fees, and any other features or benefits that are important to you. You can also consider consulting with a financial advisor or a car loan broker, who can help you compare offers and find the best loan for your needs.

4. Which bank has a low-interest rate on a car loan in Dubai?

Several banks in Dubai offer car loans with low-interest rates. Some options to consider include Emirates NBD, which offers competitive rates starting at 2.99% per annum, and Dubai Islamic Bank, which offers rates starting at 3.49% per annum.

It’s worth noting that the exact interest rate you receive will depend on various factors, including your credit score and the type of car you are looking to finance. Additionally, shopping around and comparing offers from multiple banks is always a good idea to ensure you get the best rate possible. It’s also important to carefully read and understand the terms and conditions of any loan you are considering before committing.

5. How to borrow money from DIB?

To borrow money from Dubai Islamic Bank (DIB), you must visit a branch in person and provide identification documents, proof of income, and other financial documents. You will also need to complete an application form and provide information about your employment, income, and financial history.

After the bank reviews your application and approves it, you will receive information about the terms and conditions of the loan, including the interest rate and repayment schedule. You must sign a loan agreement and other necessary documents if you agree to the terms. Once the loan has been approved and the necessary documents signed, the bank will disburse the loan funds to you.

4 Best Credit Cards in UAE with no Annual Fee

Omar Mohan

Wouldn’t it be great if you just had to flash your card with sheer confidence to buy that fancy outfit for your date night, or when you have to tap that ‘book now’ button without thinking a hundred times about the price and budget of your trip? Now you can upgrade your life by owning that fancy rectangular card. That card is not just any plastic credit card; that’s going to be your key to achieving your dream lifestyle. From lounge access, luxury airport transfers, or heavy discounts on your air tickets, you can have it all with just one card.

Credit Card with Zero Annual Fee

Also, No need to carry wads of cash, and it’s always going to be a hassle. Here is a list of some of the best credit cards in UAE for which you don’t have to pay an annual fee.

Citi Simplicity credit card

Key Features

Citi simplicity doesn’t apply any annual fee, late payment fee, cash advance fee, or over-limit fee.
You will get access to select airport lounges across the middle east.
Enjoy travel, dinners, and entertainment discounts locally and across 95 countries.
Pay any big purchases into smaller ones by using ‘Pay light”,

Minimum Salary

AED 5,000

Rate

3.50%

Reward features

This credit card doesn’t offer many discounts, but it can be an excellent option for paying debts.

Benefits:

Dining Offers
Balance Transfer
Airport Lounge Access
Easy Installment Plan
Cash Loan
No Cash Advance, Late or Overlimit fee
Free for life

2) Emirates Islamic RTA credit card

Key Features

After joining, you get an amazon gift card worth AED 500.
Get 10% cashback on fuel spending.
10% cash back on transport payments.
You will get 2.25% cash back on international spending.
1.25% cash back on all other spends.
Visa Luxury Hotel collection offers.
Get access to over 200 airport restaurant offers globally.
Avail discounts on a multitude of Golf courses across the world.
Get complimentary movie tickets each month and avail of them on any day of the week.
Grab an 8% discount on hotel bookings made at Hotels.com.
Get 15% off on Emaar Entertainment attractions.
Get purchase protection.

Minimum Salary

AED 5,000

Rate

3.49%

Reward Features

Earn up to 1.25% cashback per AED 1 on domestic expenses.
Earn up to 2.25% cashback per AED 1 on international transactions.
Earn 10% cash back on fuel bills.
Earn 10% cash back on RTA transport payments.

Benefits

Golf offers
Cinema Tickets
Dining Offers
Balance Transfer
Purchase Protection
Extended Warranty

3) Mashreq cashback card

Key Features

One of the essential features of this credit card is it does not have any minimum spending thresholds. In a nutshell, you can start saving on your expenses from as little as AED 1/-
Any retail cashback made with this card will be eligible for fantastic cashback.
All retail purchases made on the card will be eligible for cashback.
Utility bills can be paid with ease. Telephone, electricity, and water bills can be made through the different payment channels of the bank. These payment channels are Mashreq online, call center, mobile banking, nearest branches, etc.

Minimum Salary

AED 5,000

Rate

3.45%

Reward Features

Get Unlimited Cashback on all transactions
Grab a 5% Cashback on dining spends in the UAE
2% Cashback on international transactions
1% Cashback on other local bills or expenses
Pure savings, guaranteed, that too without any complications or hassles.

Benefits

Travel Insurance
Purchase Protection
Extended Warranty

4) HSBC zero credit card

Key features

Pay zero annual, no limit, or any cash advance fee.
Grab up to 5 tickets at VOX each month on a buy 1 get 1 offer.
Get a free HSBC entertainment mobile app.
Visa Luxury Hotel collection offers.
Get access to over 200 airport restaurant offers globally.
Get exclusive dining privileges.
Travel discounts of up to 12% with Agoda.
Dragon Pass Dine & Fly program.
You will have an extended warranty of up to 1 year over the original manufacturer warranty.
Also, get a purchase protection cover.

Minimum Salary

AED 10,000

Rate

3.45%

Reward Features

This card doesn’t come with a loyalty reward but has features such as cinema offers, movie discounts, etc.

Benefits

Cinema Tickets
Dining Offers
Balance Transfer
Purchase Protection
Extended Warranty

Find the perfect credit card which not only gives you the best offers, cashback, or benefits but also aligns with your lifestyle goal. Depending on your lifestyle, whether traveling, exploring restaurants or cafes, business goals, etc., you can find yourself a credit card that offers it all.

Deem Credit Card UAE Review: A Comprehensive Review

Omar Mohan

Credit cards have undoubtedly become an inevitable thing in our lives. Some of the most significant purchases of our lives depend upon our credit score, which is built based on credit history. Whether buying a new house or car or surprising your partner with a flamboyant holiday abroad all of this requires you to have a credit card.

For all these enticing benefits of having a credit card, all you need to do is to pay the bills on time. Always cut your dress according to your cloth. The interesting bit is that Deem offers 3 categories of credit cards specially customized per your needs and spending. Now you can upgrade your lifestyle by earning something back every time you make a transaction with the Deem credit card.

With this credit card, you can have the freedom to make big transactions without denting your savings account balance.

Features of Deem Finance Credit Card

The Deem Credit Card offers a variety of features and benefits to its cardholders, including:

Rewards program: The Deem Credit Card offers a rewards program that allows cardholders to earn points for every purchase they make. These points can be redeemed for various rewards, including cashback, discounts on purchases, and travel.
No annual fee: The Deem Credit Card does not charge a yearly fee, which can be significant savings for cardholders.
Credit limit: The Deem Credit Card has a credit limit of up to AED 50,000, which can help make large purchases or emergencies.
Contactless payments: The Deem Credit Card is equipped with contactless technology, allowing cardholders to make payments quickly and easily without swiping or inserting the card.
24/7 customer service: The Deem Credit Card offers 24/7 customer service to its cardholders, which can be helpful in an emergency or if a card is lost or stolen.

Benefits of Deem Finance Credit Card

Here are a few benefits of Deem finance credit card:

Speed up your earnings with cash up

Whenever we make transactions from our regular debit cards, we don’t realize how much we are missing out on.

With Deem credit card, you earn something every time you make a transaction. This card offers cash-ups on airline tickets, shopping, entertainment spending, groceries, and fuel. So don’t be just a spendthrift, be a smart spender and bag all the cash ups, no matter where you spend the money.

Earn up to 10% on airline tickets and shopping
Earn up to 5% on entertainment spends
Earn up to 3% on groceries and fuel.

2. Save when you indulge.

Now you will say yes to every plan your friends make because, with the benefits of Deem finance credit card, you can splurge your money on things that are your wants. So now is the time to stop imagining and make your dream lifestyle real.

Whether going to that fancy spa or lavish dinner night, no matter where you spend, you won’t regret it. Now you will be saving every time you swipe your card.

3. Redeem the cash up at leisure

After building up a cash-up on all your transactions, you can choose to exchange your cash-up with something of your interest.

In short, you can cash up for something your like. You may choose to include cashback credit on your statement and online gift vouchers from your favorite brands, or you can even use your cash up to pay for your future purchases.

4. Pick a credit card as per your needs or lifestyle.

Deem offers 3 categories of credit cards, Titanium, platinum, and world. All 3 are customized as per individual needs.

These cards come with various benefits and offer you cash-ups on the transactions you mostly tend to make. Be it daily spending or travel expenses. Deem offers the benefits that will help you opt for the lifestyle of your choice.

Titanium- Up to 3% accelerated Cash Up on your everyday spend.
Platinum- Up to 10% accelerated Cash Up when you shop for things you love. Get more information about the Deem Platinum Credit card from this article.
World- Up to 10% accelerated Cash Up when you spend on air tickets.

So to be a smart spender, rather than just being a spender, apply for your Deem finance credit card and turn your dream lifestyle into a real one.

Fees

While the Deem Credit Card has several features and benefits, it also has some fees that cardholders should be aware of. These fees include the following:

Interest rate: The Deem Credit Card has an interest rate of 3.5% per month, which can be higher than other credit cards.
Cash advance fee: The Deem Credit Card charges a cash advance fee of 3% of the amount withdrawn, with a minimum fee of AED 50.
Late payment fee: The Deem Credit Card charges a late payment fee of AED 150 if payment is not received by the due date.
Over-limit fee: The Deem Credit Card charges an over-limit fee of AED 150 if the cardholder exceeds their credit limit.

Customer Service

One of the most important factors to consider when choosing a credit card is the quality of customer service.

The Deem Credit Card offers 24/7 customer service to its cardholders, which can be helpful in an emergency or if a card is lost or stolen. Cardholders can contact customer service via phone, email, or the Deem Finance website.

The Deem Credit Card is a good option for those looking for a rewards program and no annual fee. However, it has a higher interest rate and different prices, so weighing the benefits and drawbacks before applying is essential.

Additionally, the quality of customer service is also a strong point of the card. Overall, the Deem Credit Card is a solid choice for UAE residents, but it’s essential to consider personal needs and spending habits before making a decision.

FAQs

Who is the owner of Deem Credit Card?

Deem Credit Card is owned by Deem Finance, a financial services company based in the United Arab Emirates.

2. How do I use my Deem Credit card?

You can use your Deem Credit card to make purchases at merchants that accept credit card payments. You can also use it to withdraw cash at ATMs, pay bills online or over the phone, and make balance transfers.

3. How do I close my Deem credit card?

To close your Deem credit card, contact Deem Finance customer service via phone, email, or their website. Provide them with your card details and request for card closure. Make sure to clear any outstanding balance before closing the card.

4. What is Deem double secure?

Deem Double Secure is a security feature offered by Deem Finance for Deem Credit cardholders. It provides an additional layer of security when making online transactions by sending a One-Time-Password (OTP) to the cardholder’s registered mobile number or email address, which must be entered to complete the transaction.

5. Can I get a Deem Credit Card if I am self-employed?

Yes, self-employed individuals can apply for a Deem Credit Card. However, you will need to provide proof of income and creditworthiness to the lender during the application process.

6. Can I check my Deem Credit Card balance online?

You can check your Deem Credit Card balance online by logging into your account on the Deem Finance website. You can also check your balance by calling the customer service number or visiting an ATM.

7. Are there any benefits to using a Deem Credit Card?

Yes, there are several benefits to using a Deem Credit Card. These include a rewards program, no annual fee, a high credit limit, contactless payments, and 24/7 customer service.

Conclusion

Credit cards have become a popular form of payment in the United Arab Emirates (UAE), and with so many options, it can be overwhelming to decide which is right for you.

One option to consider is the Deem Credit Card, issued by Deem Finance. This card offers a variety of features that can be beneficial for cardholders, including a rewards program, no annual fee, a high credit limit, contactless payments, and 24/7 customer service.

This article provided a comprehensive review of the Deem Credit Card, including its features, benefits, fees, and customer service. It will help individuals understand the card’s offerings and make an informed decision before applying.

Minimum Salary Requirements for Car Loans in the UAE

Omar Mohan

Are you looking to finance a car purchase in the United Arab Emirates? Find out the minimum salary requirements for car loans in the UAE and learn about other factors that lenders may consider when evaluating your loan application. Explore your options and get the financing you need to buy your dream car today.

Salary Requirements for Car Loans

If you’re in the market for a new car in the United Arab Emirates, you may consider taking out a loan to finance your purchase. One of the key factors that lenders will consider when evaluating your car loan application is your income. Specifically, lenders want to know if your salary meets the minimum requirements for a car loan.

In this article, we’ll provide an in-depth look at the minimum salary requirements for a car loan in the UAE and some other factors that lenders may consider when deciding whether to approve your loan.

First, it’s important to note that the minimum salary requirements for a car loan in the UAE can vary depending on the lender and the type of loan you’re seeking. Some banks may have stricter requirements than others, and some types of loans (such as sharia-compliant Islamic finance) may have different eligibility criteria.

Additionally, the minimum salary requirements for a car loan may be higher for certain vehicles (such as luxury cars) or for applicants seeking larger loan amounts.

What is the minimum salary requirement for a car loan in the UAE?

Most lenders in the country will require applicants to have a minimum salary of around AED 5,000 per month to qualify for a car loan. This means that if you earn less than AED 5,000 per month, you may have difficulty finding a lender willing to finance your car purchase. However, it’s worth noting that this minimum salary requirement is just a general guideline, and some lenders may be willing to consider applicants with lower salaries on a case-by-case basis.

In addition to your salary, there are a few other factors that lenders may consider when evaluating your car loan application. These can include your credit score, employment history, and financial stability. Lenders will typically want to see that you have a good credit history and a stable job with a regular income.

They may also consider your debt-to-income ratio (the amount of debt relative to your income) when deciding whether to approve your loan. A high debt-to-income ratio may make it more difficult to secure a car loan, as lenders may view you as a higher-risk borrower.

It’s also worth noting that some lenders may require you to make a down payment or provide collateral (such as property or other assets) to secure a car loan. The down payment size and the collateral’s value may vary depending on the lender and the loan’s terms. For example, some lenders may require a larger down payment for a luxury car or a loan with a more extended repayment period.

So, what can you do if your salary is below the minimum requirement for a car loan?

One option is to try to negotiate a higher salary with your employer. This may not be possible for everyone, but if you have a strong track record at your job and demonstrate your value to the company, you may be able to negotiate a higher salary. Alternatively, you could try to save up enough money to make a larger down payment on your car, which may make it easier to secure a loan.

Another option is to consider alternative financing options, such as leasing or renting a car. While these options may not be as convenient as owning your car, they can be an excellent way to get behind the wheel without taking out a large loan. Finally, you could consider working with a co-signer or guarantor with a higher income and a stronger credit history. This person could help you secure a loan by providing additional financial support.

FAQs

1. What is the eligibility for a car loan in the UAE?

To be eligible for a car loan in the UAE, you will need a minimum salary, a good credit score, a stable job and income, and a low debt-to-income ratio. Other factors that lenders may consider include your age, the type of vehicle you are seeking to purchase, and any collateral or down payment you can provide. These requirements can vary depending on the lender and the type of loan you seek.

2. Is it easy to get a car loan in the UAE?

It is generally easy to get a car loan in the UAE. Still, lenders will consider income, credit score, employment history, and overall financial stability when evaluating loan applications. The process of getting a car loan may vary depending on the lender and type of loan, and some lenders may have stricter requirements or require additional documentation or collateral. It is important to research and compare offers from multiple lenders to find the best deal, considering factors such as interest rate, fees, and repayment terms.

Understanding the Risks of Buying Property in Dubai

Omar Mohan

Dubai’s real estate market can be a lucrative investment opportunity, but it’s important to understand the potential risks before making a purchase. This article discusses the key risks to consider when buying property in Dubai, including location, market conditions, and financing options.

Dubai is a city that has seen tremendous growth in recent years, both in terms of its economy and its real estate market. With its luxurious high-rise apartments, state-of-the-art infrastructure, and business-friendly environment, it’s no surprise that many people are attracted to the idea of buying property in Dubai.

However, as with any real estate purchase, there are certain risks that potential buyers should be aware of before making a decision. In this article, we will explore some of the dangers of buying property in Dubai and provide tips on mitigating these risks to ensure a successful and stress-free property purchase.

Risks of buying property in Dubai

Market Fluctuations

One of the main risks of buying property in Dubai is the potential for market fluctuations. Like any real estate market, the Dubai market is subject to changes in demand and supply, which can affect property prices.

While Dubai’s real estate market has generally been on an upward trend in recent years, it’s essential to be aware that prices can go down and up. To mitigate this risk, it’s important to do thorough market research and work with a reputable real estate agent who understands the local market.

2. Legal and regulatory framework

Another risk to consider when buying property in Dubai is the legal and regulatory framework. Dubai has a complex legal system that can be difficult for outsiders to navigate, and it’s important to be aware of the various rules and regulations that apply to real estate transactions.

This includes ownership rights, property taxes, and building regulations. To minimize this risk, it’s essential to work with a lawyer or legal advisor familiar with the local legal system and ensure that all necessary documents are in order before proceeding with a property purchase.

3. Potential for fraud and misinterpretation

While the vast majority of real estate transactions in Dubai are legitimate, there have been fraud or misrepresentation in the past. This can include false advertising, hidden fees, or misleading information about the property. To minimize this risk, it’s important to do thorough due diligence on the property and the seller and to work with a reputable real estate agent or lawyer who can help protect your interests.

4. Potential for construction delays or defects

Given the rapid pace of development in Dubai, there is a risk that some construction projects may experience delays or quality issues. To mitigate this risk, it’s essential to do thorough research on the developer and the specific project you are considering and to ensure that any contracts or agreements you sign include provisions for dealing with potential delays or defects.

5. Fluctuations in the Economic and Political climate

Finally, it’s worth considering the potential for changes in Dubai’s economic or political climate that could affect the value of your property. While Dubai has a stable and well-developed economy, there is always a risk that economic or political events could impact the value of real estate. To minimize this risk, it’s important to stay informed about local and global economic developments and consider the long-term prospects for the area where you are planning to buy property.

In conclusion, buying property in Dubai can be a rewarding and exciting experience, but it’s essential to be aware of the risks involved. Doing thorough research, working with reputable professionals, and taking steps to protect your interests can mitigate these risks and increase your chances of a successful and stress-free property purchase in Dubai.

FAQs

Is it advisable to buy property in Dubai?

Buying property in Dubai can be a good investment opportunity, as the city is known for its robust real estate market and strong economic growth. It is a global hub for business and tourism, and its strategic location makes it a popular destination for locals and expatriates.

The city also offers a high standard of living, with a wide range of amenities and infrastructure. However, it is essential to consider all factors before making a property purchase, such as location, budget, and potential return on investment.

2. What happens when you buy property in Dubai?

When you buy property in Dubai, there are a few steps you will need to follow. First, you must find a property that meets your needs and budget. You can browse listings online, work with a real estate agent, or visit open houses. Once you have found a property you are interested in, you will need to make an offer and negotiate the price with the seller.

If your offer is accepted, you must sign a sales and purchase agreement and pay a deposit to secure the property. You will also need to arrange to finance if you are not paying cash.

After the purchase is finalized, you will need to transfer the ownership of the property into your name and pay any applicable fees or taxes. It is important to seek the advice of a lawyer or real estate agent to ensure the process goes smoothly.

3. Why is Dubai property so cheap?

There are a few reasons why property in Dubai may be considered relatively cheap compared to other global cities. One reason is that the cost of living in Dubai is generally lower than in other major cities, which means that the price of real estate is also lower.

Additionally, Dubai has an ample supply of new, high-quality properties, which can help to keep costs competitive. The city also has a strong economy and a stable political environment, making it an attractive place to live and invest.

Finally, Dubai’s location at the crossroads of Europe, Asia, and Africa makes it a strategic hub for trade and tourism, which can drive demand for property and help to support the market.

4. Is Dubai real estate safe?

Overall, Dubai has a reputation for being a safe place to live and invest in real estate. The city is known for its low crime rates and strict law enforcement, which can provide a sense of security for residents and investors. Additionally, the government regulates the real estate market in Dubai, which helps ensure that transactions are transparent and properties are developed to high standards.

However, as with any real estate market, it is important to do your due diligence before investing. This includes researching the location and developer and seeking the advice of a lawyer or real estate agent to ensure that you are making an informed and secure investment.

A step-by-step guide for investing in Dubai real estate

Omar Mohan

Dubai is a popular destination for real estate investment, with its thriving economy, luxurious lifestyle, and attractive tax benefits. Here is a guide on how to invest in Dubai real estate.

How to invest in Dubai real estate?

1. Research the market:

Before you start investing in Dubai real estate, it is essential to do your research and understand the market. This includes learning about the properties available for investment, such as apartments, villas, and commercial buildings, and understanding the demand for each type of property.

You should also research the different areas of Dubai to find out which neighborhoods have the most potential for capital appreciation.

2. Choose a reputable developer:

When investing in Dubai real estate, choosing a reputable developer with a track record of delivering high-quality properties on time is crucial. Look for developers with a strong reputation in the market and a portfolio of successful projects.

3. Understand the payment plan:

Most real estate developments in Dubai are sold on a payment plan, which allows you to pay for your property in installments rather than upfront.

Reviewing the payment plan carefully and understanding the terms and conditions before signing any contract is essential. Make sure you are comfortable with the payment schedule and that it fits within your budget.

4. Get a mortgage:

If you are financing your Dubai real estate investment with a mortgage, shopping around and comparing mortgage offers from different lenders is vital. When choosing a lender, you should consider the interest rate, fees, and repayment terms. You should also ensure that you meet the lender’s eligibility criteria, including a minimum income requirement and a good credit score.

5. Understand the legal process:

The legal process for buying property in Dubai can be complex, and it is crucial to understand the steps involved. This includes signing a sales and purchase agreement, paying a deposit, and completing the transfer of ownership. It is recommended to work with a lawyer or a real estate agent who can guide you through the process and ensure everything is done legally and properly.

FAQs

1. Is it worth investing in Dubai real estate?

The decision to invest in real estate, including in Dubai, is a personal one that depends on a variety of factors, including your financial situation, investment goals, and risk tolerance. It is essential to consider all of these factors before making investment decisions.

Dubai’s well-developed real estate market has experienced significant growth in recent years. The city has a strong economy and is a major hub for tourism and international business, which has helped drive demand for residential and commercial properties. The government has also implemented several measures to support the real estate market, such as easing foreign ownership restrictions and offering long-term visas to real estate investors.

However, it is essential to remember that the real estate market, like any other market, can be subject to fluctuations and risks. It is essential to do your due diligence and research the market carefully before making any investment decisions. This may include consulting with a financial advisor or real estate professional and looking at market trends and economic conditions. It is also a good idea to clearly understand your financial goals and risk tolerance and invest only an amount you can afford to lose.

In summary, while investing in Dubai real estate can offer several benefits, it is important to consider all the relevant factors and research before making any investment decisions.

2. Can foreigners invest in Dubai real estate?

Yes, foreigners are allowed to invest in real estate in Dubai. The United Arab Emirates (UAE) has a relatively open economy and a welcoming attitude towards foreign investment, including in the real estate sector. As a result, there are several opportunities for foreigners to invest in properties in Dubai.

A few restrictions apply to foreign ownership of real estate in Dubai. For example, foreigners are generally not allowed to own land in certain designated areas, such as military zones and some agricultural areas. However, there are several areas where foreigners can own land, including in freehold zones and certain designated developments. In addition, foreigners can lease land for a specified period in certain regions.

Foreigners interested in investing in real estate in Dubai should know that the market can be subject to fluctuations and risks, as with any other real estate market. It is important to do your due diligence and research the market carefully before making any investment decisions. This may include consulting with a financial advisor or real estate professional and looking at market trends and economic conditions. It is also a good idea to clearly understand your financial goals and risk tolerance and invest only an amount you can afford to lose.

Overall, Dubai offers several opportunities for foreigners to invest in real estate, and the market has historically been a strong performer. However, it is important to consider all the relevant factors and research before making investment decisions.

In conclusion, investing in Dubai real estate can be a lucrative opportunity. Still, it is vital to research, choose a reputable developer, understand the payment plan, get a mortgage if needed, and understand the legal process. These steps can increase your chances of success and make informed investment decisions.

If you are interested in buying property in Abu Dhabi, please read our article on how to buy a property in Abu Dhabi as an expat?

5 Steps to Opening a Trading Account in the UAE

Omar Mohan

Ready to start trading on the UAE’s stock exchange? This guide outlines a straightforward and organized approach for setting up a trading account in the UAE, including selecting a brokerage, gathering required documents, completing the application, and funding the account. Take charge of your financial future and accumulate wealth through the UAE stock market.

How to open a trading account in UAE?

1. Research brokerage firms:

The first step to opening a trading account is to choose a brokerage firm that meets your needs.

Several brokerage firms are operating in the UAE, and you can compare their fees, product offerings, and customer service to find the one that best fits your needs. Choosing a reputable brokerage firm regulated by the UAE Securities and Commodities Authority (SCA) is essential.

2. Gather necessary documents:

Once you have chosen a brokerage firm, the next step is to gather the necessary documents to open a trading account.

These may include a copy of your passport, proof of residence, and other identification documents. Some brokerage firms may also require you to provide financial information such as proof of income or net worth.

3. Complete the application process:

Once you have gathered the necessary documents, you can complete the application process for a trading account.

This typically involves filling out an online application or visiting the brokerage firm to complete a paper application. You must also agree to the brokerage firm’s terms and conditions and complete any required paperwork.

4. Fund your account:

After your application has been approved and your account is set up, you will need to transfer money from your bank account into your trading account to start trading.

Most brokerage firms in the UAE offer a range of options for funding your account, including bank transfers, credit/debit card payments, and even e-wallet solutions.

5. Start trading:

Once your account is funded, you can start buying and selling securities on the stock exchange.

Most brokerage firms offer online platforms that allow you to place orders directly, or you can place orders over the phone with the help of a customer service representative.

Thus, opening a trading account in the UAE is a simple process that can be completed online or in person at a brokerage firm. By researching, gathering the necessary documents, and funding your account, you can start trading and building wealth through the stock market.

FAQs

1. Is there a tax on trading in the UAE?

There is no personal income tax on stock trading in the UAE. There is no personal income tax on stock trading in the UAE, but other taxes and fees may apply.

These can vary depending on the exchange and type of security being traded. It is recommended to consult with a tax professional or financial advisor to understand the specific tax rules that apply to your situation.

2. Which bank is good for trading in UAE?

Several banks in the United Arab Emirates offer trading services, including online trading platforms and brokerages.

Some well-known options include Emirates NBD, Dubai Islamic Bank, and Abu Dhabi Commercial Bank. It’s important to do your research and consider factors such as fees, trading platforms, and customer service when choosing a bank for trading.

3. Can I open a Demat account in the UAE?

Yes, it is possible to open a Demat account in the United Arab Emirates. In the UAE, you can open a Demat account with a broker or a financial institution that offers this service.

To open a Demat account, you will typically need to provide personal identification and proof of residence, complete any necessary paperwork and agree to the terms and conditions of the account. It is important to carefully research and compare different providers to find the best option for your needs.

4. How can I open an investment account in the UAE?

To open an investment account in the United Arab Emirates, you must choose a financial institution or broker that offers investment products and services. Some options may include banks, investment firms, or online brokers.

You will typically need personal identification and proof of residence to open an investment account. You may also need to complete paperwork and agree to the terms and conditions of the account.

It is vital to carefully research and compare different providers to find the best option for your needs and investment goals. When choosing an investment account, you may also want to consider factors such as fees, investment options, and customer service.

5. Do you need a license to trade stocks in the UAE?

To trade stocks in the United Arab Emirates, you will typically need to obtain a license from the Securities and Commodities Authority (SCA). The SCA is the regulatory body responsible for overseeing the UAE’s capital markets, including the stock market.

You will typically need to meet specific requirements, such as education or experience in financial markets, to obtain a license.

You may also need to pass an examination to demonstrate your knowledge and understanding of the market. It is important to familiarize yourself with the specific requirements for obtaining a license to trade stocks in the UAE and to ensure that you meet all necessary criteria before starting to trade.

6. How can I invest in a small amount in the UAE?

Several options for small investors in the UAE include mutual funds, ETFs, individual stocks, savings accounts, and Robo-advisors.

Before making any investment decisions, it is essential to carefully research and compare different options and consider factors such as fees, risk level, and potential returns.

7 Steps to Investing in the Stock Market in the UAE

Omar Mohan

Investing in the stock market can be a great way to grow your wealth over the long term, and with the rise of online trading platforms, it has never been easier to do so from the comfort of your home. If you are based in the United Arab Emirates (UAE) and are interested in online investing in the stock market, here is a step-by-step guide.

7 Steps to Investing in the Stock Market in the UAE

1. Research the market:

Before investing in the stock market, it is essential to research and understands how the market works. You need to learn about the different types of securities available for investment, such as stocks, bonds, and mutual funds, and weigh the risks and potential rewards of each.

You should also familiarize yourself with the different stock exchanges in the UAE, such as the Dubai Financial Market and the Abu Dhabi Securities Exchange.

2. Choose an online brokerage firm:

The next step is choosing an online brokerage firm to facilitate your trades. Several online brokerage firms are operating in the UAE, and you can choose one that best fits your needs. When choosing a brokerage firm, some factors include the fees they charge, the investment products they offer, and the customer service level.

3. Open a brokerage account:

Once you have chosen an online brokerage firm, the next step is to open a brokerage account. This simple process typically involves filling out an online application and submitting some documentation, such as a copy of your passport and proof of residence.

4. Fund your account:

After your brokerage account has been approved and set up, you will need to transfer money from your bank account into your brokerage account to start trading.

Most online brokerage firms in the UAE offer a range of options for funding your account, including bank transfers, credit/debit card payments, and even e-wallet solutions.

5. Choose your investments:

Once your account is funded, you can choose the securities you want. This involves conducting your research or seeking the advice of a financial advisor.

When selecting your investments, you should consider factors such as the company’s financial performance, management team, and industry trends.

6. Place your orders:

Once you have chosen your investments, you can place orders to buy or sell them through your online brokerage account. Most online brokerage firms offer user-friendly platforms that allow you to place orders directly, or you can place orders over the phone with the help of a customer service representative.

7. Monitor and manage your portfolio:

After making your investments, monitoring and managing your portfolio to ensure it remains aligned with your investment goals is essential. This may involve buying and selling securities, rebalancing your portfolio, and seeking the advice of a financial advisor.

FAQs

1. Is online stock trading allowed in the UAE?

Online stock trading is allowed in the United Arab Emirates (UAE). The UAE has a well-developed financial system and an open and competitive stock market that is accessible to both domestic and international investors.

Online stock trading in the UAE is regulated by the Securities and Commodities Authority (SCA), responsible for overseeing the stock market and ensuring compliance with local and international laws.

The SCA has put in place several measures to protect investors and promote transparency in the stock market, including the requirement for brokerage firms to disclose information about their fees and policies and the requirement for companies to disclose accurate and timely financial information.

Investors can participate in online stock trading by opening a brokerage account with a local or international brokerage firm and using their online platform to buy and sell securities.

2. Can foreigners invest in the UAE stock market?

Yes, foreigners can invest in the stock market in the United Arab Emirates (UAE). The UAE has an open and competitive stock market that is accessible to both domestic and international investors.

Foreign investors need to open a brokerage account with a local or international brokerage firm to invest in the UAE stock market. There are no restrictions on the types of securities foreign investors can buy or sell in the UAE stock market. However, it is important to note that the UAE has strict laws on money laundering and terrorist financing. Foreign investors may be required to provide proof of the source of their funds when opening a brokerage account.

In addition to the UAE’s stock market, foreign investors can invest in real estate, private businesses, and other investment opportunities. The UAE has a thriving economy and a welcoming business environment, making it an attractive destination for foreign investment.

3. Which online stock broker is the best in the UAE?

Several online stockbrokers are operating in the United Arab Emirates (UAE), and the best one for you will depend on your individual investment needs and goals.

Some popular online stockbrokers in the UAE include the Emirates NBD Securities, Shuaa Securities, and ADS Securities, all of which offer a range of investment products and services, as well as a variety of online and mobile trading platforms to make it easy for customers to buy and sell securities.

It is essential to research and compares the fees, product offerings, and customer service of different online stockbrokers before deciding.

4. Which is the best app for trading in the UAE?

Several apps are available for trading in the United Arab Emirates (UAE), and the best one for you will depend on your individual investment needs and goals. Some popular options include eToro, Tastyworks, and TradeStation, which offer a range of investment products and services and various features and tools to help investors make informed investment decisions.

When choosing an app for online stock trading in the UAE, it is important to consider factors such as the fees, product offerings, and customer service of the app, as well as its features and functionality. It is also advisable to read reviews and compare the features and functionality of different apps before making a decision.

In conclusion, opening a trading account in the UAE is a simple process that can be completed online or in person at a brokerage firm. By researching, gathering the necessary documents, and funding your account, you can start trading and building wealth through the stock market.

Instant Cash Loan in 1 Hour Abu Dhabi

Omar Mohan

Are you in need of some cash but don’t want to pay high-interest rates? If so, then we have the perfect solution for you. You can get instant cash loans in 1 hour in Abu Dhabi. Various lenders offer these loans with a fantastic reputation for providing quality service.

The good news is that you don’t have to go through a lot of hassle to get one of these loans. The entire process can be completed in just a few minutes.

Instant Cash Loan in 1 Hour without Documents

Did you know that in Abu Dhabi, you can get instant cash loans in 1 hour without documents? All you may be required to provide is your Emirates ID card.

This is an excellent service for when you need cash quickly and don’t have the time to go through the hassle of getting paperwork sorted out. Several lenders provide this kind of service, such as ADCB, the National Bank of Abu Dhabi, and First Gulf Bank.

All you have to do is go into one of their branches and ask for an instant cash loan. The amount you can borrow depends on the lender, but typically it’s between 1000 and 5000 dirhams.

The process is simple: you hand over your Emirates ID card, tell the lender how much money you want, sign a few forms, and receive the money immediately.

There’s no need to wait around or jump through hoops – it’s a speedy and convenient service. Be sure to read the terms and conditions carefully before signing anything, as there may be interest rates or other fees associated with these loans.

Cash Now Loan App UAE

The Cash Now Loan app offers fast personal loan advances to customers in the United Arab Emirates. Quantix Technology Projects LLC runs the app.

You can easily download the app on Google PlayStore. When it comes to borrowing, the lender gives up to a maximum of AED 1,500 to the most qualified borrowers.

Cash Now app typically has an interest rate of 34% per year and a processing fee of 4.9 percent of the total sum borrowed.

How to Apply:

Unfortunately, salary advance loans are only available to UAE citizens.

If you’re a citizen, here is how you can apply:

Have a citizen ID card
You should have an income
Required age range is between 20 and 50 years

Urgent Cash Loan in Abu Dhabi

If you need an urgent cash loan in Abu Dhabi, you can apply for an instant cash loan from several lenders.

The application process is simple and takes only a few minutes to complete. You will need to provide basic information, including your name, address, and contact details. Once the application is approved, the money will immediately be deposited into your account.

There are many benefits to applying for an instant cash loan in Abu Dhabi. Perhaps the most obvious benefit is that you can get access to the money quickly.

Additionally, no credit checks are required, so even if you have bad credit, you can still qualify for a loan. And since there are no early repayment penalties, you can pay off the loan anytime without any extra fees or charges.

Apps Like Cash Now in UAE

When dealing with apps like Cash Now in UAE, it is essential to compare them to similar services to get an idea of what they offer. A few come close, but none quite match the scale or scope of Cash Now. These apps include Instant Cash, Quick Cash, and Fast Loan.

Each of these apps has its strengths and weaknesses. But they all fall short compared to Cash Now’s massive selection of lenders and loan amounts.

Additionally, Cash Now offers lower interest rates than any of the other apps mentioned here, making it a clear choice for those looking for quick cash in the UAE.

Online Money Lenders in UAE

Some of the online money lenders in the UAE include Cash-O-Matic, UAE Exchange Money Transfer, and Cash Central.

These money lenders use the internet to make their transactions easier for customers who are not in their geographical proximity or don’t want to go to a physical location.

Online money lending companies also provide better conditions than traditional banks with limitations on loan amounts, interest rates, and repayment periods.

The process usually takes less time because there is no paperwork involved to get your cash within 24 hours if approved by the lender’s requirements. However, online lenders still follow all local laws when operating.

So, they will check your credit history before any transaction occurs, and some may have an online application form. These companies offer loans from AED 500-AED 100,000, and the approval process is usually very quick so that you can get your cash within hours, depending on the lender’s requirements.

Urgent Cash Loan App in Dubai

If you need cash in a hurry, the best solution is to use an Urgent Cash Loan App. These apps are designed for people who need money quickly, and they offer a variety of services that can help you get the cash you need when you need it.

Some good loan apps for Dubai residents include the following:

Insta Loan – This is a good app for people who need fast cash in Dubai. When you use this service, your loan request will usually be approved within 15 minutes, and the money should be deposited into your account by the next business day. You can typically borrow up to AED500 with this company.

Cashfloat – If your credit score isn’t very high, but you still want an easy way to get some quick cash, try using Cashfloat.

Urgent Cash Loan in Dubai

If you need an urgent cash loan in Dubai, you can get it from some banks. These banks include Emirates NBD, HSBC, and Mashreq.

You can also get an urgent cash loan from some money exchange companies in Dubai. The best-known money exchange company in the UAE is Al Ansari Exchange

Instant Cash Loan in UAE

Getting an instant cash loan in UAE is relatively easy. You need to look for the institutions that offer these loans fast and efficiently. Some of them are banks and online loan apps.

These banks include:

The online loan apps are:

Conclusion

As you’ve seen, getting an instant cash loan in the UAE is relatively easy. You don’t need a lot of paperwork, and you can also borrow money online through loan apps. However, you always have to ensure that the company is licensed and registered with the UAE Central Bank to be safe.

How To Take Out A Loan Against Your Property In Dubai

Omar Mohan

Loan Against Property is a financial instrument that has been in use for many years now. It is used to borrow money by pledging the property as security. The borrower can pledge any immovable property such as land, building, machinery, and equipment against which they wish to raise funds.

A loan may be sanctioned subject to the condition that the value of the collateral exceeds the amount of debt or there are sufficient liquid assets available if required.

Loan Against Property for Expatriates in Dubai

A loan against property in Dubai and the UAE is a great way to access cash for finance purposes.

Such loans can be used for various purposes such as renovation, new construction, or even buying land.

Here’s what you need to know before applying:

Expatriates looking forward to taking out a loan against property should be UAE residents for at least two years or more.
At the same time, they must also hold valid residence visas that allow them to work in the country.
Only Emiratis and expats permitted by law can take up loans from banks based within Dubai International Financial Centre (DIFC).
The minimum amount required for applying for such loans begins with AED 30,000, whereas the maximum limit goes up to 100% of the market value of your home.
However, this will depend on your current rental income and repayment capacity.
You will also need to show title deeds or a notarized sale agreement to the lender.
The loan tenure can be customized as per your needs but is usually capped at 20 years.
Unlike mortgages, there are no restrictions on how you can use the funds obtained from a loan against property in Dubai.

You could use it for buying another property, refinancing an existing mortgage, or even consolidating other debts.

Interest rates for these loans tend to be higher than what you would get on a personal loan from a conventional bank. This is because the lenders’ risk of lending money against mortgaged assets is much higher.

However, with proper research and comparing offers from various banks, it is possible to get a good deal on the interest rates.

The entire process of applying for and getting a loan against property in Dubai can be completed in just a few weeks. All you need is all the required documents in order, which your bank will provide you with once you apply.

Loan Against Property for Citizens in Dubai

If you’re a Dubai citizen and want to take a loan against your property, there are a few things you should know.

The first step is to find a suitable lender who can offer you a loan that best suits your needs. Many lenders in Dubai, but not all of them offer loans against property.

You’ll want to make sure the lender has experience with these types of loans and is fully licensed and regulated.

Once you’ve found a suitable lender, the process will be relatively simple. You’ll need to provide some documentation, including proof of ownership of the property and ID documents.

The lender will also perform a property valuation to ensure it’s worth enough to secure the loan. If everything checks out and you’re approved for the loan, you’ll be given the money you need.

And if things don’t work out, your property will be used as collateral in case you can’t pay back what’s owed to the lender.

Dubai Mortgage for Residents

To be eligible for mortgages, expatriates and UAE nationals must demonstrate a stable income and excellent credit.

The minimum salary requirements are about 7,000 for nationals and 10,000 for expats. To be eligible for mortgages, expatriates and UAE nationals must demonstrate a stable income and excellent credit.

The minimum salary requirements are about 7,000 for nationals and 10,000 for expats. If you want to get debt on your house, the monthly repayments mustn’t be more than half of what you earn monthly.

This includes all the debt you must repay, like credit card debt, personal loans, and even auto loans. Also, applicants must be at least 21 years to apply for a mortgage loan. They must also complete the mortgage repayment by retirement age, 65 years.

Loan Against Rental Property

It is possible to get a home equity loan on a rental property as long as you qualify. Although you may borrow up to 100% of the equity in your primary house, lenders usually restrict the amount you can borrow on a rental property.

However, you have to ensure that your property is free from any encumbrance and the rent receipts are genuine.

UAE Mortgage Pre Approval

The first step in the mortgage process for purchasing a home is obtaining mortgage pre-approval.

It’s when your application is examined, and a letter or email is sent to you stating that you’ve been pre-approved and will give you the money you requested. This usually lasts 60 days.

This provides peace of mind that the lender has authorized the mortgage on particular terms, allowing you to haggle with confidence while knowing that matters can be concluded promptly.

Personal Loan in Dubai

Many banks offer this service if you need a personal loan in Dubai. These banks include but are not limited to:

Emirates NBD
Abu Dhabi Commercial Bank
Mashreq Bank
National Bank of Fujairah

Each bank has its own set of requirements to be eligible for a personal loan. For example, some banks may require you to have been working in the same company for several years or that you maintain a minimum salary of about AED 1,500.

In addition, the interest rate on these loans can vary significantly from one lender to another. So, you must shop around and compare rates before signing any paperwork.

Zero Down Payment Mortgage Dubai

If you want to get a zero down payment mortgage in Dubai, you must meet specific eligibility requirements.

The first requirement is that you must be a UAE national or a resident of Dubai with a valid residency visa. You must also have an income three times the monthly rent for the property you are buying.

Several lenders offer zero down payment mortgages in Dubai if you meet these requirements. These lenders include Emirates NBD, Mashreq Bank, and Abu Dhabi Commercial Bank.

To find out more about these lenders and the products they offer, please visit their websites or contact them directly. If you are not a UAE national or resident of Dubai, you may still be able to get a mortgage with a down payment.

Down payments for non-residents start at 20% but can be as high as 50%. Talk to your preferred lender to see what options are available to you.

Dubai Home Loan Interest Rate

The interest rate on home loans in Dubai ranges from 2.99 to 5 percent. The overall trend is that rates are going down slightly and should continue to decrease.

However, things can change unexpectedly. If you choose a fixed-rate mortgage for two years, this would be the case.

Conclusion

Overall, a loan against property in Dubai can be a great way to get access to cash quickly. However, it is vital to understand the terms and conditions of any loan you take out, as well as the risks involved. Therefore, speak with an experienced mortgage broker or banker if you have any questions about taking out a loan against your property in Dubai.

How to Invest in Mutual Funds in UAE (Step by Step)

Omar Mohan

What is a mutual fund? A mutual fund is an investment vehicle that allows investors to pool their money together and invest in stocks, bonds, and other types of assets.

Mutual funds are a great way to invest in the stock market without worrying about picking individual stocks. If you’re looking to invest in the UAE, read on for more information on getting started.

Best Mutual Funds in UAE

UAE has some of the best mutual funds where you can invest your money and expect some good returns. Check out 5 of the best options to consider investing in below.

1. Dunn Capital Management

Dunn Capital Management was launched in 1974, and they now have over a million dollars that they are managing worldwide.

The goal of the company is to give the best long-term investment option. The company wants to be a good choice for a wide range of homeowners, so it works for many people.

Dunn Capital trades in currencies such as the Australian dollar, British pound, Canadian dollar, Euro, Japanese yen, Mexican peso, Swiss franc.

The investment portfolio comprises fixed-income securities, equities, energy futures, currency options, metals futures, volatility futures, and agricultural commodities.

2. Lindsell Train Japanese Equity Fund

Lindsell Train Japanese Equity Fund manages assets of about $1 billion. The top holdings are Milbon, Kao, Nintendo, and Shiseido.

OBIC Business Consultant and many more. The minimum investment amount is $250,000. The fee you will have to pay is 0.65% per year. To start investing with Lindsell, you have to visit their website.

3. Fidelity Investment

Fidelity Investments was founded in 1946. They work with the principle “take an intelligent risk and don’t follow the crowd.”

Also, they manage about $145 billion of assets. They only deal with long-term objectives.

This fund won the Thomas Reuters Lipper Awards in Canada in 2018. The initial investment you need to get started with them is $500. The top holdings are Apple, Microsoft, Nestle, AstraZeneca, Lowe’s, and Hoya.

4. Schroder US Mid Cap Fund

Schroders is a multinational asset management firm with offices in 35 countries worldwide, including the Middle East, Europe, Asia, North America, and Africa.

It aims to provide capital growth and income by working. The firm invests at least 80% of its funds in medium-sized firms in the United States. The money management is pretty active.

5. Fundsmith Equity Fund

Fundsmith Equity Fund invests in global equities with a long-term investment strategy. The funds are managed on a concentrated basis, with 20 to 30 stocks being chosen.

Fundsmith Equity Fund’s top holdings include Microsoft, PayPal, Facebook, Phillips Morris, and Intuit. Estee Lauder, Loreal, etc.

It’s critical to have a clear image of the firm and how it invests your money before investing in particular mutual funds.

Websites such as Lipper funds, Morningstar, and ValueInvesting.com provide crucial information on firms by taking past performance into account.

Mutual Funds in UAE ADCB

ADCB is a mutual fund in the UAE that offers a wide range of mutual funds from some of the world’s best investment management firms. This company covers many asset classes, countries, sectors, and regions.

It ensures your portfolio is unique and efficient like you would want it to be. ADCB also covers developed and emerging market fixed income sectors, equity, real estate, commodities, balanced funds, and hedge funds.

All the mutual funds from ADCB in the UAE have approval for promotion by the Securities and Commodities Authority.

Mutual Funds in UAE Returns

Mutual funds returns in UAE tend to range between 12 and 20 percent. This is one of the highest returns in the world, which makes this type of investment popular among many investors.

The return on your investments can be higher if you invest directly with a fund management company. Instead of investing through an intermediary like banks or brokerage companies.

Management fees vary significantly depending on what kind of mutual funds you choose and how much money you want to invest each month/year.

Mutual Funds in India for NRI

NRIs from Canada and the United States have permission to invest in mutual funds in India, as long as they follow FEMA’s restrictions.

However, certain AMCs do not accept mutual fund applications from NRIs in Canada and the United States.

You can start with different types of funds. There are equity funds, debt funds, and hybrid funds. And you have a lot of options for these too. You also need to consider how long you want your money invested when choosing a mutual fund.

Emirates NBD Mutual Funds Review

Emirates NBD offers an open architecture funds platform that allows clients to build well-diversified, worldwide investment portfolios according to their specific risk/return needs.

Top international asset managers handle this money and are selected using a thorough in-house qualitative and quantitative due diligence procedure. The funds are watched ongoing to guarantee that they continue to satisfy our strict internal criteria.

Some of their services include:

Client profiling
Development of a portfolio
Reporting
Portfolio review

Emirates NBD Mutual Funds

Emirates NBD was established on October 16th, 2007. They became a public company on the Dubai Financial Market (DFM).

The company has different investment segments such as personal, priority, private, business, and corporate & institutional.

This mutual fund company is available for all UAE residents and international investors who wish to invest with the company and tap into all their services.

Mashreq Bank Mutual Funds

Mashreq bank is a UAE bank that offers people the opportunity to invest in mutual funds. They provide the best solution to help match your risk appetite and investment needs.

The company allows you to spread your finances in different asset classes and industry sectors.

With Mashreq bank mutual funds, you can access over 30 leading international fund houses, you have the option to choose a wide range of passive funds, and they also offer a comprehensive selection on offer.

Conclusion

Investing in mutual funds is a great way to grow your money and achieve your financial goals. The companies we’ve discussed in this post are some of the best options you can find in the UAE. They offer excellent financial investment solutions and lucrative returns on investment. Therefore, consider checking them out today to learn more about how you can start.

Best 0 Interest on Car Loans in UAE

Omar Mohan

Car loans in UAE can be a difficult task to undertake. Many companies and banks offer car loans, but each one has different interest rates and conditions. It’s essential to do your research before you go out and buy a car. This is because the last thing you want is an expensive payment plan or a high-interest rate on top of it!

In this post, we will look at some of the best options for obtaining car loans. Also, we’ll discuss what kind of financing methods exist for those who don’t have much money saved up.

Top Best Zero (0) Interest on Car Loans in UAE

UAE is one place where you can quickly get a secured loan for your personal or business needs at a competitive interest rate.

The country’s economy allows individuals to build credit ratings by making timely repayments.

Thus, enabling them to acquire highly sought-after mortgages in the future. Some of the best 0 interest on car loans in UAE include:

1. Emirates Islamic Bank

The Emirates Islamic Bank offers interest-free car loans for up to five years. You can even acquire 0 % interest on new cars offered by the bank if you are planning to buy one. The maximum repayment tenure is ten years, and there’s also no processing fee attached with this offer.

2. Abu Dhabi Commercial Bank

Another ideal place to get 0 interest on car loans in UAE is Abu Dhabi Commercial Bank. This bank offers car loans with 0% interest for a period of up to three years.

The bank also charges no processing fees, and you can avail of the loan amount ranging from AED 50,000 to AED 200,000.

3. Al Hilal Bank

Al Hilal Bank offers both new and used cars on finance at an interest rate of 0%.

You can repay the loan over 12 to 60 months, and there are no hidden costs involved.

4. Ajman Bank

Ajman Bank is one of the largest private sector banks in the UAE that offer Sharia-compliant car financing products with zero percent markup rates on a Murabaha basis.

The maximum tenure for repayment is 60 months, and the loan amount can be up to AED 300,000.

5. Bank Muscat

Bank Muscat also offers Islamic car finance with 0% markup rates on Murabaha basis.

The bank offers car loans for both new and used cars.

You can repay the loan over 12 to 84 months, and the maximum loan amount offered is OMR 100,000.

6. Dubai Islamic Bank

Dubai Islamic Bank offers Sharia-compliant car finance products with 0% markup rates on Murabaha basis. Dubai Islamic Bank also offers car loans for both new and used cars. You can repay the loan over 12 to 60 months, and the maximum loan amount offered is AED 200,000.

If you are looking for an interest-free or low-interest rate car loan in UAE, any one of these banks will be able to help you out.

The terms and conditions may vary from one bank to another, but the basic premise remains the same. You get to enjoy a hassle-free ride without having to worry about interests piling up each month.

Car Loan Interest Rate in UAE

Many factors influence the interest rate on car loans in UAE. The most important of these is the credit score of the borrower.

Lenders will look at this to determine how risky it is to lend money to the individual. Other factors that can affect the interest rate include the loan’s length, the vehicle’s age, and whether or not a deposit is required.

The average interest rate for car loans in UAE sits at around six percent. However, this can vary significantly depending on the lender and the loan terms. It’s always essential to shop around for the best deal when looking for a car loan.

Minimum Credit Score for Car Loan In UAE

The minimum credit score for a car loan in UAE is 600. However, if you have a higher credit score, there is a chance you will be approved for the loan even with slightly lower income requirements and lesser guarantor fees.

This is because a higher credit score reflects on your reliability and stability. If you do not have a good credit history, you may need to have a guarantor from UAE who has lived in this country for at least two years without any due payments or arrears against them.

Additionally, they should also ensure that their salary is above AED 4000 per month to pay off whatever amount they require in monthly installments over the time agreed upon by both parties.

Car Loan for Self-Employed in UAE

It is still possible if you are self-employed in the UAE but wish to buy a car. Some lenders offer loans to self-employed people.

However, you cannot get easy approval like salaried applicants because banks will require more documentation and proof of income from your side. This loan usually has high-interest rates that vary according to lender choices.

ADCB Car Loan Calculator

ADCB provides a car loan calculator on their website that helps customers determine the monthly installment for their car loan.

The calculator considers the down payment amount, interest rate, and loan tenure. Customers can also use ADCB’s Personal Loan Calculator to calculate the monthly installment for their personal loan.

This calculator considers the loan amount, interest rate, and repayment period. Both calculators provide an estimate of the monthly payments only and do not constitute an offer from ADCB.

Emirates NBD Auto Loan Minimum Salary

The minimum salary that you need to be earning for your application even to be considered is AED 5,000. This might not always work as a yardstick, though, because the analysis of your financial profile will be done by considering many factors.

These include credit card dues and installments against loans like car loans in UAE, along with installment payments on any housing loan which may exist currently.

Car Loan Procedure in UAE

Here is how the car loan procedure is in the UAE:

You need to have a signed AECB form
Have a passport/visa
Emirates ID
Valid quotation
Driving license
You need to have a salary certificate and provide bank statements for salaried individuals.

You need to have a trade license and provide bank statements for companies.

Conclusion

Car loans in UAE are available through banks and other financial institutions. Before taking out a loan, you should ensure that the lender offers competitive interest rates to suit your needs. You can compare different loans on various websites to determine which ones best suit your needs. Once you have determined if you can get a zero-interest car loan, the next step is to figure out if you can get a car loan in the UAE without a downpayment.

Can I Get a Car Loan In UAE Without Down Payment?

Omar Mohan

There are many banks in the UAE that offer car loans and there are always special promotions going on. However, not everyone is able to afford the required deposit when buying a car while in the UAE. In this article, we will look at whether you can get a car loan in the UAE without a downpayment.

You cannot get a car loan in the UAE without a down payment. A down payment (normally 20%) is mandatory for all Auto Loans in the UAE. However, you can get down payment support through your UAE bank using one of their credit cards at the bank’s discretion. You can also purchase a car on a personal loan which does not require a down payment.

Let’s discuss further how you can do this.

What Is a UAE Auto Loan?

An Auto Loan is basically a loan provided by any financial institution (e.g a bank) in order to purchase a vehicle (e.g a car). With an Auto Loan, you are not paying on the vehicle purchase price plus interest over time.

How Much Downpayment Is Required In The UAE For A Car?

Normally, a 20% downpayment is required by most banks to purchase a car in the UAE.

Can I Get 100% Financing On A Car Loan In UAE?

It is possible to get 100% financing on a car from some banks in the UAE. However, the more popular concept of car finance in the UAE is paying 80% of the car’s value as the loan and 20% as deposit. However, there are many banks that offer 100% financing options for an auto loan in the UAE.

There are some banks as well that offer a 1% downpayment for the purchase of vehicles. Check out this list of auto loan providers in Dubai to learn more.

Personal Loans and Downpayments In The UAE

An easy way to purchase a car in the UAE is to purchase the vehicle on a personal loan. A personal loan is an unsecured loan, meaning no deposit or collateral is required. you do not have to give a down payment with personal loans.

While you can get a cheap personal loan in the UAE, the fact is cars are generally not cheap. Personal loans are really based on your salary. For example, you can get a personal loan on a 4000 salary or a personal loan on a 5000 salary.

Can I Do A Partial Payment To My Car Loan?

Yes, you can do a partial settlement on your car loan from most banks. However, there will be an additional settlement fee which is 1% of the principal outstanding in most cases.

Who Can Get A Car Loan In UAE With A Downpayment?

The normal minimum downpayment of 20% is required for Salaried Customers. However, clear loans start at 0% Down Payment for All businesses & Self Employed Customers.

Are Salary Transfers Required For A Car Loan?

In general, most banks do not require a salary transfer for salaried customers to get a car loan.

How Does The Process Of Purchasing A Car With Downpayment Work?

When purchasing a car on a 20% down payment, this means consumers will only finance 80 percent of the new or used car’s value. This of course implies that a 20 percent down payment is required.

Buying A Used Car With 20% Downpayment

Some banks will allow you to purchase a car with a 20% down payment. In this case, the down payment is generally paid directly to the bank. The bank in turn settles the full value of the used car with the used car dealer.

However, a few banks in the UAE ask used car buyers to settle the 20 per cent down payment directly with the seller. Once that is done, the bank will settle the remaining 80 per cent of the car’s value.

How Used Car Dealers Offer 0% Downpayment In The UAE?

some dealers are smart about this and offer 0 % downpayment by simply discounting the invoiced price of the car via a promotion.

Top Car Loan Providers in UAE

The following are the top car loan providers in UAE with their respective downpayment percentages:

ADCB Bank Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: Fixed 1.99% p.a. and reducing 3.65% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefits: 50 Touchpoints earned on every AED 1000 of the loan amount
Finance to Down Payment Percentage: 80%-20%

ADIB Bank Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: Fixed 2.75% – 4.49% p.a. and Reducing 4.75% – 8.25% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefits: Deferment for one yearly instalment and a grace period of 90 days for the first instalment.
Finance to Down Payment Ratio: 80% – 20%

Emirates NBD Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: Fixed 1.99% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 4000 to AED 15000 (case basis)
Additional Benefits: Free credit card. Green loan for electric cars, 90 days deferment period on the first payment.
Finance to Down Payment Ratio: 80% – 20% for individual loans, 75%-25% for sports car, 90%-10% for companies

First Abu Dhabi Bank (FAB) Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: Fixed 1.99% p.a. for UAE nationals / 2.15% p.a. fixed for ex-pats (salaried employees). 2.99% p.a. flat and 5.62% p.a. reducing for self-employed.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 8000 for salaried individuals and AED 25,000 for self-employed
Finance to Down Payment Ratio: 80% – 20%

Mashreq Bank Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: 3.45% p.a. flat rate and 6.31% p.a. reducing rate
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefit: Free for life credit card
Finance to Down Payment Ratio: 80% – 20%

ANRAKBK Car Loan

Car Loan Interest Rates: 1.99% p.a. flat rate for salaried applicants
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Finance to Down Payment Ratio: 80% – 20%

Emirates Islamic Bank Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: 1.80% p.a. flat rate and 2.95% p.a. reducing rate
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 8000
Additional Benefit: Free Emirates Islamic current account
Finance to Down Payment Ratio: 80% – 20%

HSBC Car Loan

Maximum Car Loan Amount: AED 600,000
Minimum Salary Required: AED 10,000
Additional Benefit: 0.15% discount on flat interest rates for hybrid vehicles and 0.25% off on flat interest rates for full electric vehicles
Car Loan Interest Rates starting from 1.99% p.a. flat rate
Special flat Interest rate for TESLA – 1.74%
Reduced monthly EMIs with easy Balloon repayment options

What Documents Are Required To Get An Auto Loan In the UAE?

Signed bank form
Passport-visa
Emirates ID
Valid quotation
Driving license
Salaried individuals
Salary certificate
Bank statements
Self-Employed individuals
Trade license
Bank statements
Companies
Trade license
Bank statements
List of authorized signatories on company behalf (wherever applicable)
MOA

Who Is Eligible For A Auto Loan In The UAE?

The eligibility criteria to apply an Auto Loan are as below:

Salaried Segment
Self Employed / Companies
AED4K (ALE with Salary Transfer or Non ALE with Salary Transfer and good CASA score)
AED 5K (Non ALE, Salary Transfer or ALE, Non Sal Transfer)
AED 7K (Non ALE & Non STL) or Private deals)
AED 15K (Used sports cars)
Min Average Balance of AED 20K

Once you have determined if you can get a car loan in the UAE without a downpayment, the next step is to figure out if you can get a 0 interest car loan.

Dunia Finance Review

Omar Mohan

Dunia Finance LLC was a company based in Dubai, UAE. It changed its name from
Dunia Finance LLC to Deem Finance LLC in 2019. The Company’s principal activity is providing customer-centric financial solutions to its target customer segments.

Here is an overview of some of the essentials about the company.

[wptb id=917]

Financial Position of Company

As per the report of the independent financial auditor Ernst & Young

The Company has incurred a net loss of AED 125,578 thousand during the year ended 31 December 2019.
It’s accumulated losses amounted to AED 827,851 thousand which exceeds 50% of its share capital.
They state that

“these factors indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.”

The Directors however believe the Company will generate sufficient cash flows from its operations which will enable the Company to meet its financial commitments and liabilities for the foreseeable future. Our report is not qualified in respect of this matter.
Read the detailed report here.

Why the change in name?

Img Src: https://deem.io/

The popular opinion is that Dunia Finance LLC due to some of its high-handed practices with customers was gaining a very negative reputation in the market. To reinvent themselves they have changed their name to Deem Finance LLC. They are one and the same company.

Read on to know what are people’s opinions about Dunia Finance LLC!

What do people say about Dunia Finance LLC?

Dubai Finance Review by Employees:

The company promotes the overall skill development of its employees.
The work culture of the company is also more than satisfactory, as it supports work-life balance and looks after its employees in every situation.
The salary and other benefits offered by the company to its employees are also above average.
The job security and the career growth provided by the company is though above average but not as satisfactory as its other features.
The company provides facilities like soft skill training, international relocations, health insurance, and a great cafeteria as a cherry on top.

Dubai Finance Review by Customers:

The has received mixed reviews from its customers.
A number of customers have complained of the high-interest rates of 19.99% to 34.5% it charges on its loans. They have also companied of the face of the harassment by them on even a slight delay of any payments, or non-updating of payments made even after months of follow up.
However, there is a group of satisfied customers. They praise the company for its relatively simple allocation of loans without any stringent requirements. They are a godsent gift especially as this is one of the customers last resort after being declined by major banks. Minimal paperwork, pleasant and helpful staff make the journey easy for its customers.
Read detailed reviews here.

Gender-based Dunia Finance Review

The women employees of the company have rated it below average by giving it 2-stars, but they are also happy with the skill development, salary and other benefits that the company offers.
Comparatively, male employees are happier than women in the company; they have given it 4-stars and are satisfied with the work culture along with the skill development.

As analyzed, our final stand on Dunia Finance review or Deem Finance Review is that one should use this resort for loans, etc. Only when declined by the banks. It is a company that is satisfactorily good towards its employees but needs to work a little to augment its customer services so that all of its customers remain happy and satisfied by investing their in trust in Dunia Finance LLC.

Other Banks and Financial Companies

Biggest Banks in the UAE
Best Banks in The UAE For Expats

Overview of the Best Banks in Abu Dhabi

Omar Mohan

The United Arab Emirates has established itself as the Middle East’s financial center. It has drawn shareholders and businessmen from all across the world as a result of its attractive and profitable market climate, making the UAE an economic gateway. The Central Bank of the United Arab Emirates regulates and supervises banking institutions in the UAE. There are 23 national banks and 28 international banks in the nation, in addition to the increasingly rising Islamic banks.

Despite the uncertainties and ongoing oil price fluctuations which have diminished investor trust, the banks have continued to expand in respect of earnings and total revenues.

Best Banks in Abu Dhabi

Let us check the Best Banks in Abu Dhabi for your financial needs.

1. First Abu Dhabi Bank

The First Abu Dhabi Bank is the UAE’s biggest equity-based bank, providing customers with a wide range of customized solutions and goods as the best bank in Abu Dhabi.
They are more likely to have a customer-friendly banking environment and promote the financial development of their investors.
It has a global network of locations all over the world.
It provides a variety of personal loans. FAB also offers a personal loan to individuals who are coming to the UAE or looking for work. The rate of interest on a FAB personal loan begins at 1.62 per cent, and a base salary of AED 7K is expected to register.
It provides 19 credit cards with a variety of advantages to meet the needs of every consumer.

2. Emirates NBD

The Emirates NBD’s is a combination of Emirates Bank International (EBI) and the National Bank of Dubai (NBD) since 2007. This is one of the world’s biggest alliance, combining the UAE’s second and fourth biggest banking institutions to create a banking entity with the GCC’s greatest capital structure.
It provides 15 credit cards, each of which caters to a different set of customer requirements.
It provides six different personal loans, each tailored to a different type of borrower. Personal cash loans, personal loans for self-employed people, personal loans for emigrants, and personal loans for UAE citizens are just a few mentions.

3. Abu Dhabi Commercial Bank (ADCB)

ADCB is one of the top three banking multinational corporations in the UAE.
Abu Dhabi Investment Council, which deals exclusively with the Abu Dhabi administration controls 58 per cent of the company.
Treasury, banking, and structuring are all handled by ADCB in Abu Dhabi, making the bank extremely attentive to customer requirements.

4. Emirates Islamic Bank

Emirates Islamic Bank is one of the best banks in the UAE.
They offer goods and facilities that are advantageous to both consumers and shareholders and is thus one of the best bank’s in Abu Dhabi.
It has nine specific credit cards with various rewards such as rewards points, skywards miles, and restaurant coupons.
It provides all banking services based on Islamic values. Many of the goods come with a long list of advantages.

The banking industry in the UAE is growing and contributing dramatically to the country’s growth, as well as providing seamless and exceptional solutions to its clients, by superimposing a huge foothold through world-class operations.

Honorable Mentions

Dunai Finance, while not a full-fledged bank offers certain banking services like loans and credit cards.

Important Things to Consider before Securing a Mortgage in Dubai

Omar Mohan

The local mortgage market in Dubai is growing that gives a great opportunity to investors to buy properties in Dubai. Expats need to understand the important aspects of getting a mortgage in Dubai before they take the plunge. It’s a tough decision, but important one if you want to avoid making costly mistakes. This blog post will present the foreign and local investors with key factors to think about before purchasing a property in Dubai.

Get the Best Mortgage in Dubai with These Tips

1. Be Ready with the Initial Investments

Getting a mortgage can be an expensive endeavor. Some initial fees are necessary to pay for securing a mortgage.

Usually, these fees include transfer fees of 4% and mortgage registration charge of 0.25%. Apart from them, there’s real estate commission of 2%, and 1% loan establishment fees included. Therefore, an investor has to keep 5 to 7% of the total property cost in hand to proceed with the mortgage.

2. Decide Your Mortgage Method in Dubai- Fixed or Variable

There are two ways to secure a mortgage – a fixed rate and a variable rate. Being an investor, you should predominantly decide the mortgage option before transferring the down payment.

In the case of a fixed-rate mortgage, the rate of interest remains the same during the tenure of the mortgage. When it comes to variable-rate mortgages, the rate of interest gets changed periodically according to the Emirates Interbank Offered Rate (EIBOR). An experienced mortgage advisor will help you make the right choice for the mortgage method.

3. Get Your Mortgage in Dubai Pre-Approved

Getting your mortgage amount pre-approved from the bank will help you find the best properties at the defined price. Investors can either get the mortgage directly pre-approved by the bank or through a mortgage advisor. Approval from the bank beforehand showcases that one is eligible for securing mortgages in Dubai

Usually, a down payment of 10% is required as per the sales agreement. Of course, no one wants to get refused by a financial institution at the last minute. So, ensure to apply for pre-approval for mortgages.

4. Keep all the Documents Ready for Speedy Mortgage Proceedings

A lot of paperwork is involved in the mortgage procedure. However, it can vary from bank to bank. The foreign investors should have their copy of their passport, visa, Emirates Identity Proofs. Additionally, a salary certificate from your employer, pay slips, last 6-months bank statements, and recent credit card statements are required for mortgage documentation. A local investor has to show evidence of address, a tenancy agreement, or a DEWA bill.

5. Consider Taking Help from a Mortgage Broker

Seeking professional assistance from a mortgage broker will help you get your mortgage in Dubai without any headache. They understand the market and your needs well. You can look for mortgage brokers online and hire the one under your budget.

No More Hassles & Extra Costs for Mortgages in Dubai

Dubai is a hotspot for property buyers and investors, but it can be tough to navigate the laws. The above points will help you purchase a new property in Dubai without any hassles and additional costs.

All That You Need To Know For Personal Loan in UAE on 4,000 Salary

Omar Mohan

Personal loans are an easy way out when it comes to tackling situations that need a lot of financial assistance. Whether it’s the consolidation of debts or traveling expenses that you have to look after, personal loans can always help.

It is a very helpful financial tool but, to avail it, one must be eligible to apply as per the lender’s required criterion. So, let’s check out what all is needed to obtain a personal loan in UAE if your salary is 4,000 AED.

How to get a personal loan in UAE on a 4,000 salary?

Banks in UAE have been reluctant to provide monetary aid in the form of loans to low-salaried people, but with the increasing demand, there has been a more positive response from the banks, as they have agreed to offer personal loan(s) to people earning a lower salary of AED 4,000 also.

Eligibility Criterion

The eligibility criterion of each bank differs from one another; however, the generic requirements are as follows:

Minimum age: 21 years.
Maximum age: 60 years for UAE nationals, 65 years for expatriates.
The applicant must be salaried or self-employed.

Provider of personal loan in UAE on 4,000 salaries:

There are very few providers of personal loans in UAE on 4,000 salary who offer to help people in need. One of them is:

Dubai Islamic Bank

One of the most progressive Islamic institutions in the world, it renders unparalleled services to its customers that come paired with its emphasis on innovation and growth. The utterly innovative product of Dubai Islamic Bank is its personal loan that can be availed with a low salary of AED 4,000 also. It gives the applicants the freedom to avail loan amounts as high as AED 4,000,000 for Emiratis and AED 2,000,000 for expatriates at an interest rate of 11%. The other features that come along with the loan amount are as follows:

Quick and hassle-free process.
Minimal documentation required.
Minimum salary required can even go down to AED 3,000.
Flexible repayment structure of up to 48 months.

Who can apply for this loan?

Those working in a DIB-approved company can transfer theie salary to DIB.
Those working in a DIB approved company who can transfer the salary to any other bank
If not working in a DIB-approved company, the applicant must transfer salary to DIB or any other bank.
Applicant must be a customer of DIB Investment Fixed Wakala Deposit.

What are the documents required?

UAE ID Salary Transfer Certificate from the employer for Emiratis
A copy of passport and residence VISA along with the UAE ID Salary Transfer Certificate from the employer for Emiratis
Bank statement security cheque & AECB consent form

How to apply for this loan?

The application for obtaining a personal loan from Dubai Islamic Bank is really easy. One can apply via an online portal or by physically visiting the bank’s branch.

So, go right ahead and start your loan application procedure.

Other Important articles in this series:

How to get a personal loan in UAE without company listing
Personal Loan in UAE with 5000 Salary a Month
Personal Loan in UAE with 3000 Salary a Month
Personal Loan in UAE with 2500 Salary a Month

Investment Companies in Dubai

Omar Mohan

Investing in investment companies is a smart way of watching your money grow. Notwithstanding the fact, one needs to be careful and analyze the market trends before putting in the hard-earned money.

Even though not everyone has access to large private banks in Dubai, and other large Dubai financial companies, you can still take advantage of the options offered by investment companies.

Best Investment Companies in Dubai

Let us have a look at the list of Investment Companies in Dubai, which has maintained its ranking amongst the best of companies to watch your money grow.

1. AL MAL CAPITAL PSC

Established in the year 2005, the company ranks amongst the finest investment companies in town. The services offered include:

Corporate Advisory
Investment Management
Direct Investments

2. DAMAN INVESTMENTS PPC

A 1998 venture, the company deals with offering financial solutions for investments and the services offered are:

Asset Management
Securities Brokerage
Investment & Advisory
Wealth Management

3. EMIRATES FINANCIAL SERVICES

Founded in the year 1976, Emirates Financial Services is one of the oldest financial service providers in Dubai. The bank provides the services of:

Fixed Deposit
Bank Guarantee
Retirement Planning
Bonds and Mutual Funds

Types of Investment Companies

Understanding the type of company is an important homework that one needs to accomplish before investing. Investment companies are divided into three broad categories, namely

1. Closed-Ended Fund

It is a portfolio comprising pooled assets that raises a pre-determined amount of funds via initial public offering(IPO), followed by enlisting shares for trading.

2. Open-Ended Fund

Also known as Mutual Funds, this incorporates a diversified portfolio comprising money pooled from various investors which tends to issue an infinite number of shares.

3. Unit Investment Trust(UIT)

Such investment type offers a fixed portfolio, mostly of bonds and stocks, as redeemable units to investors for a specified timespan.

A bunch of benefits await when one invests via investment companies and so do a few risks. Let us look at the risks and benefits of investing.

Reasons for investing in Investment Companies in Dubai

One should definitely consider investing via investment companies for the following reasons:

One prefers a wide range of investments handled by professionals.
Intends to spread risks, allowing one to have a diversified portfolio.
One considers investing with a small amount of money, intended for savings and investments.
Looking for substantial growth in the invested amount over the long term.

Risks of investing in Investment Companies

But as lucrative as these perks sound, they come along with a bunch of associated risks. The investment companies face this challenge of gearing, which makes the market very uncertain.

Another risk associated is the factor of discount, which indicates that if the discount widens, then the investor might have to suffer a huge loss in the invested value.

Hence one should reconsider investing in these companies if:

One isn’t in a state to afford to lose their invested amount.
One is seeking a source of guaranteed income.
One isn’t ready to see a declining curve for the assets invested in.

In case one feels uncertain regarding the investments, one should always seek the guidance of a personal financial advisor, which again, is something offered by most of the investment companies.

Investing your hard-earned money is a huge decision and where you invest is a question that requires deep analysis and research. Don’t jump in blind just at the promise of huge returns.