Consolidation loan in Dubai

Consolidation Loan In Dubai

Consolidation loan in Dubai

Consolidation loan in Dubai

People find Debt consolidation loan Dubai very beneficial. Borrowers prefer to consolidate all their credit cards and loans into one single payment. They approach their bank and apply for it. This can be ultimate solution for all your problems associated with multiple loans, multiple payments and much more. Many borrowers find it right financial decision for them. There are lots of commercial banks in Dubai that offer facility like Liability consolidation loan Dubai. They provide borrowers a facility to manage their multiple loans at low interest rate. It also offers benefit of one repayment every month.

 

Managing multiple EMI and multiple repayments can be hard for borrowers but Debt consolidation loan option can provide you the best way or manageable way to manage your debts. You get extended loan tenure, a lower interest rate and various benefits. You need not to deal with multiple lenders; you just need to keep the track of single lender and single loan. This is quite easy to apply and get this loan. You have to find out the bank that provide this facility.

 

Those borrowers who have taken high interest unsecured debt and having multiple credit cards, they can think about this type of loan option to make the things easier. Sometimes you don’t have saving or extra money to repay, so better consolidate all your loans and manage it easily. There are some eligibility criteria that you have to fulfil to get debt consolidation loan in Dubai. You should retain a DBR (Debt Burden Ratio) that must not be more than 50%. You have to transfer your salary to the bank which provides you the facility of debt consolidation loan. Service charges and fees for this facility are quite similar to personal loan Dubai. This fee may include 1% of loan amount and processing fee.

 

 

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