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Emirates NBD offers less personal loansEmirates NBD, the Gulf’s largest lender by assets, has decided to offer fewer large and long-term personal loans as part of a campaign to encourage responsible borrowing after the global credit crunch. “Large loan amounts and long repayment periods that can place a considerable strain on the borrower will be minimised through this process,” the bank said in a statement on its website. In line with efforts to ensure that individuals are not overleveraged, Emirates NBD has introduced a scheme whereby customers can return loans at no charge within a week. “Emirates NBD is the first bank in the region to introduce a unique seven-days loan return option under which any loan customer who is not satisfied with any of our terms and conditions can return the loan to the bank within a week,” said Suvo Sarkar, General Manager, Retail Banking at Emirates NBD. “All levied fees and charges will be reversed ... We believe that sound financial planning is a pillar for continued economic growth.” |
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CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT A fee between 0% and 10% of the loan may be charged on some plans depending on credit history and ability to prove income. Example: Loan of £15,000: 120 monthly repayments of £204.66, 10.4%APR variable. Loans secured on residential property. |
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