Our consultants understands the importance of maintaining a long lasting business relationships with clients to deliver specific investment solutions for a long success.
At Excellence Financing Broker (EFB), we help you find the best financial solutions tailored to your needs. Below are some common questions about our services.
1. What services does Excellence Financing Broker offer?
We provide financial solutions including:
✔ Personal & Business Loans
✔ Credit Cards & Credit Score Improvement
✔ Mortgage & Home Financing
✔ Car Loans
✔ Business Financing Solutions
✔ Investment & Wealth Management
2. Who is eligible to apply for a personal loan in the UAE?
To qualify for a personal loan, you typically need:
• A minimum monthly salary of AED 3,000 – AED 10,000 (depending on the bank).
• A valid UAE residence visa.
• A salary transfer letter (for some banks).
3. Can I get a loan without a salary transfer?
Yes! Some banks offer personal loans without salary transfer. These are available to self-employed individuals and employees with a minimum monthly salary requirement. Contact us to check your eligibility.
4. What credit score is required to get a loan or credit card?
Banks in the UAE typically require a credit score of 580 or higher. A higher credit score increases your chances of getting approval and securing better interest rates.
5. What is a credit card balance transfer, and how does it work?
A balance transfer allows you to move your outstanding credit card balance from one bank to another with a lower interest rate (often 0% for up to 12 months). This helps you manage and clear debt more efficiently.
6. How long does it take for a loan or credit card to get approved?
• Personal Loans: 3 to 7 working days, depending on the bank.
• Credit Cards: 1 to 5 working days after submitting all required documents.
7. How can I improve my credit score in the UAE?
• Pay your bills and EMIs on time.
• Avoid using more than 30% of your credit card limit.
• Reduce the number of active loans and debts.
• Regularly check your AECB credit score for accuracy.
8. How much can I borrow with a personal loan?
Loan amounts depend on your income and bank requirements. Typically:
• Up to 20 times your salary for salaried individuals.
• SMEs & Businesses: Loan amount depends on business revenue and tenure.
9. What documents do I need to apply for a credit card?
• Valid passport & visa copy
• Emirates ID copy
• Salary certificate (for salaried employees)
• Bank statement (last 3-6 months)
• Salary certificate (if salary transfer is required)
10. Can I apply for multiple loans or credit cards at the same time?
Yes, but it may affect your credit score and approval chances. Too many applications in a short time may make banks see you as a high-risk borrower.
