Do you wish that you had more money to spend? Barclays introduces ‘Price Promise’. Transfer your personal loan to us and we promise you slimmer instalments.
We are dedicated towards bringing you opportunities that are flexible and convenient. With this in mind, we’re giving you the option to transfer your salary transfer or your non-salary transfer loan to us. Either way, we would be happy to transfer your debt with reduced instalments – guaranteed!
Equated Monthly Instalment:
At least 10% less than the instalment amount of your existing personal loan with your bank.
You don’t have to worry about monthly instalment payments, simply give us post-dated cheques or instructions to debit your account at Barclays and we will take care of the rest.
- Agreement/Application for the Salary Transfer Loan/Personal Instalment Loan
- Passport Copy with valid residence visa
- Last six months’ bank statements reflecting both the six instalment repayments of the relevant personal loan and six salary credits
- Liability letter from your bank (this is required after you receive an offer for a loan from Barclays)
- Additional documents required for Business-Owners: Copy of valid trade licence along with a copy of partnership agreement and the memorandum/articles of association
1. We may ask for additional documents to assess your case.
2. We reserve the right to modify or cancel the Offer at
any time.
3. If Barclays offers to buy out your salary transfer loan, it is
your responsibility to provide Barclays with a Salary
Transfer Letter and an Undertaking from your employer
in accordance with Barclays’ Terms and Conditions.
Price Promise (‘the Offer’) means that when you transfer your personal loan to Barclays, we will reduce your monthly instalments by at least 10%*. The offer is only applicable when:
1. Barclays buys out the outstanding debt through one conventional personal loan with your bank. A conventional personal loan excludes auto loans, Islamic personal or auto loans, mortgages, loans for business purposes, promotions that are not at everyday rates and products that are sold under different terms and conditions, any
personal loans being charged interest at a variable rate, and loan agreements where interest has been temporarily or permanently suspended.
2. Barclays buys out a salary transfer loan from your bank by offering a salary transfer loan at Barclays; and when
Barclays buys out a non-salary transfer loan from your bank by offering a non-salary transfer loan at Barclays.
3. The relevant personal loan’s outstanding credit has never exceeded AED 250,000.
4. Not more than 70% of your monthly income is due for debt servicing (including the repayments for the relevant personal loan) at the time of applying for Price Promise.
5. Your bank statements do not reflect any late payment, returned cheques, or missing repayments.
6. You have a visa sponsored by any of the following Emirates only: Dubai, Sharjah, Abu Dhabi, Al Ain.
7. You are currently employed by a UAE – based employer, or you are an owner of a business operating in the U.A.E.
- Terms and Conditions
- *This may or may not result in any changes to the interest rate applicable to your loan.
Loans are subject to approval. Terms and Conditions apply.
