| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Emirates Money Loan Against POS
|
Minimum Revenue: AED 300,000 | Maximum Loan Amount: AED 2,000,000 | Equity Required: Yes | Maximum Term: 4 Years | Flat Rate: 7.72% | Reducing Rate: 14.0% |
Features:
• Higher eligibility for businesses • Flexible tenor up to 48 months • Lower Interest Rates • Top-up facility within 6 months • POS terminals issued by any bank can be hypothecated
Documents Required:
• Passport copy with valid Visa page • Last 6 months bank statements • Copy of Trade License & Memorandum of Association • Power of Attorney • Audited Financials
• Higher eligibility for businesses • Flexible tenor up to 48 months • Lower Interest Rates • Top-up facility within 6 months • POS terminals issued by any bank can be hypothecated
Documents Required:
• Passport copy with valid Visa page • Last 6 months bank statements • Copy of Trade License & Memorandum of Association • Power of Attorney • Audited Financials
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
