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Taking loans in a financial emergency can seem to be quite the arduous process that involves complicated processing and long waiting duration but not anymore. With new banking options available that enable clients to borrow money without going through such hassles as:

  1. Opening a new account (current or savings)
  2. Assigning salary to the bank

Smart loans in UAE are perfect for those customers who are in dire need of funds in a personal monetary crisis is the choice of customers who are in need of funds to meet an emergency.

You do not need to get involved in any sort of salary transfer and the entire process gets quickly approved.

How does it work?

Smart loan in UAE

This loan in UAE is the one that you receive from the bank that is most suitable according to your personal financial situation. You can pay it back in easy and convenient installments from your salary, service benefits, or any other source of monetary repayment that you prefer.

The best feature is that you can apply for this at any bank, not just the one form where you draw your salary. It gives you an easy way to meet short-term and long term financial requirements.

Are you eligible for this financial assistance package?

You can get best rates for this sort of loan if you have a positive credit history.

The worse your credit history, the less better terms you will receive from the bank. If you have a bad history of repayment with one bank, others will know about it when you approach them.

Banks usually dole out an amount that is not more than 20 times the applicant’s income so that is the maximum amount that one can get. You have to repay the entire amount in 2 years or 48 months.

What documents will you need?

The documents needed for applying for smart loans in UAE are:

  • Proof of identity
  • Residence visa documents
  • Salary or income statement
  • Bank statements of previous three to six months

Visit moneyingulf.com and enter your details to get more information and to ascertain the optimal package for you.

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  1. […] help you enjoy greater financial flexibility but they have higher interest rates. Their benefit is that there is no hefty documentation process […]

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