Personal Loans have a maximum tenor of 48 months. It is important to note that this does not apply 
to Nationals of the Ministry of Defense, whose maximum tenor is 60 months

With our Additional Income or Co-Applicant programmes, you may transform your excess rental 
income or earned sponsorship fee into a loan opportunity and acquire additional finance for any 
planned or unforeseen need as a UAE national.

We offer you the option to apply for a Non-Salary Assignment Loan if your salary is not transferred 
to bank. Additional details are available on the program website. Get in touch with us, we will get it 
done for you from corresponding bank.

You may apply for a Personal Loan with Aefinance. We will get it done for you from corresponding 
bank through varieties of methods, which are given below:
Website
Branches
ATMs / CDMs
Online Banking / Mobile App
Sales Staff
Call Centre

A Personal Loan takes at least two business days to process. Get in touch with us, we will get it done 
for you from corresponding bank. 

Installment Deferral refers to the postponement or suspension of a monthly instalment payment on 
a personal loan. 

The following are the prerequisites for an instalment deferral:
• This can be done in up to two non-consecutive months every year.
• The Personal Loan must be current (i.e., no missing or late payments).

You can request an instalment deferral using Online Banking, any Branch, or the Call Center. Get in 
touch with us, we will get it done for you from corresponding bank.

Per deferral, a fee of AED 100 is payable.

An instalment deferral can be processed in as little as two working days.

You can get up to two deferments in a row.

In order to complete the payment deferral request, you must notify the Bank at least 4 days before 
the loan monthly instalment is due. 

This is a way for you to close or pay your current Personal Loan with your own money or through 
another bank before the term you had scheduled ends. Get in touch with Aefinace, we will get it 
done for you from corresponding bank.

Any bank location can help you apply for a loan foreclosure/early settlement through another bank.

Any bank location can help you apply for a loan foreclosure/early settlement through another bank.

An offer letter from the subject rival financial organisation is required to get a loan foreclosure/early 
settlement through another bank. A liability / no liability letter, as well as a copy of your passport / 
Emirates ID, must be presented to the branch.

You might file for a loan foreclosure/early settlement through the settlement process of another 
bank. via any branch. Get in touch with us; we will get it done for you from corresponding bank. 

To conduct a loan foreclosure/early settlement, the Bank requires a minimum of 2 working days.

A partial settlement is a payment made in advance or in part towards a loan's outstanding balance.

There are no restrictions for taking up a Personal Loan with a partial repayment plan.

If you want to pay off a portion of your Personal Loan, you can do so using our Online Banking, any 
bank’s branch, or the Call Center. Get in touch with us; we will get it done for you from 
corresponding bank. 

A partial settlement is subject to a prepayment charge of 1% of the total amount paid. 

Processing a partial settlement of your Personal Loan might take up to 2 business days.

You are free to take as many partial settlements as you choose. 

At least four working days before the loan's monthly instalment, the Bank must be notified.

The amount paid will be applied to the loan balance whenever you make a partial payment. In most 
circumstances, the EMI does not change, but the loan tenor does.

To apply for a No Liability Letter, you must submit the required form(s), which must be properly 
completed. Other papers may be obtained through the branch on a case-by-case basis.

You can apply for a Liability / No Liability Letter in your local branch, over the phone, or via online 
banking. You will be given a reference number to monitor your request once you have completed 
your application. 

A Clearance Letter certifies that a specific liability has been resolved, whereas a No Liability Letter 
certifies that the client has no outstanding obligations.

A Clearance Letter certifies that a specific liability has been resolved, whereas a No Liability Letter 
certifies that the client has no outstanding obligations.

Yes, a cost of AED 50 is applied, as detailed in the Schedule of Fees and Charges on the Bank's official 
website.

The bank's specified service standard for liability / no liability letters is 7 (seven) business days.

You will receive an alert message on your registered cellphone number as soon as the mail is 
available.

Except for mall branches, the mail can be picked up at the nearest branch based on your 
convenience.

The Letter of Liability / No Liability is valid for 15 days from the date of issuance.

The payment method is determined at the time of the loan application, and we do not change it.

The Personal Loan Clearance Letter provides documentation that the consumer has paid off his 
personal loan in full.

A signed request from, as well as the fee amount in the account, are required to get a settlement of 
obligations letter. Other papers may, however, be sought by the branch on a case-by-case basis.

A clearance letter may be obtained through our Online Banking, any bank’s branch, or the Call 
Center. 

Visit the nearest branch and supply all of the necessary information. If you fill out the application 
form completely, the branch personnel may provide you with a reference number.

The first clearance letter is provided at no cost to you. If you require a second letter, you will be 
charged AED 100. 

Please contact our Collections Department if you miss or fail on a loan installment/EMI payment.

You can pay off your loan at any point throughout the term or when it reaches maturity. For 
additional information, please visit any of our locations or contact our Customer Service Centre. 

Yes, you may pay off your personal loan early, but there will be expenses associated with doing so.

You may obtain information about the status of your loan by contacting our Customer Service 
Center.

The current principal amount will be used to settle your debt.

The majority of the benefit is converted into a shorter payment period. 

A personal loan settlement might take up to 5 working days from the time you submit your closure 
request.

You will be required to pay the loan principal outstanding amount, as well as an extra early 
settlement charge of 1% of the principal outstanding if you want to pay off your personal loan early. 

You can visit any branch or contact Aefinance Customer Service Centre via phone. We will get it 
done for you from corresponding bank.

Yes, for a loan foreclosure/early settlement, an Early Settlement Fee of 1% of the outstanding loan 
amount is levied.

Yes, you can request an early or partial settlement using our Online portal. 

Yes, you are eligible for a deferral. Please keep in mind that an instalment deferral is a 
postponement or suspension of the monthly instalment payment on a personal loan. The current 
instalment amount, as specified in the loan agreement and repayment plan, may rise as a result of 
the deferral.

Yes, there is a modest deferral cost of AED 100. 

You can get up to two deferments in a row.

The entire amount of your loan, the loan tenure, the first due date, and the yearly interest rate are 
used to compute your EMI (Equated Monthly Installment).