Emirates Islamic Bank (EIB) Credit Card Loan

What is the Emirates Islamic Credit Card Loan? 

Emirates Islamic Bank offers a loan facility on credit cards that are highly useful for receiving instant money into your account. These loans are pre-approved, which means no documentation or collateral is required. Based on your available credit limit, you can apply for this loan and utilise the money for different purposes. It comes with an attractive interest rate that helps you save more and get funds for emergencies. 

Furthermore, you don’t need to worry about the repayment, as the bank offers flexibility to repay the amount in easy installments. Overall, the Emirates Islamic Bank credit card loan is designed to make your life easy by bringing financial flexibility and peace of mind. 

Types of Emirates Islamic Bank Credit Card Loan in the UAE

By understanding the different types of loan options available on your card, you can make an informed decision:

Cash on Call 

Emirates Islamic’s ‘Cash on Call’ facility provides credit card holders with quick access to funds, allowing them to convert up to 80% of their available limit into cash. With a minimum loan amount of AED 1,000, customers can enjoy flexible repayment tenures ranging from 6 to 48 months. 

The borrowed amount is directly transferred into your account at competitive profit rates and with no processing fee. Here, it’s worth noting that this card loan option is not accessible for Emirates Islamic corporate, business, and supplementary cardholders. 

Easy Payment Plan 

This Emirates Islamic Bank loan on a credit card allows individuals to convert their purchases into affordable monthly installments. To be eligible for this loan facility, you must be a primary cardholder and can conveniently convert your transactions made up to the last 45 days. Additionally, this is not available for business and corporate cardholders. 

The Easy Payment Plan comes with two loan types: the regular EPP and 0% easy payment plan. With regular EPP, your transaction must be at least AED 500, and you can pay this loan in easy EMI within 3 to 48 months. On the other hand, a 0% EPP option is available at partner merchants only. You can access this loan through mobile banking, internet banking, or by visiting the bank’s website. 

Balance Transfer 

This loan option lets primary credit cardholders shift outstanding balances from other UAE banks to their Emirates Islamic cards. You can transfer up to 80% of your available credit limit with a minimum of AED 1,000. If you hold corporate, business, or prepaid cards, you are not eligible for this plan. 

For this facility, you have two options to choose from: fixed fees and 0% profit rates. Fee‑based cards offer flexible instalment repayment with fixed fees, while the profit‑based cards will be charged a one‑time processing fee. Once the loan is processed, typically within 5–7 working days, you can pay back the amount in 3 to 6 months. 

How to Repay Emirates Islamic Credit Card Loan? 

It’s crucial to settle the card loan on time. To help you do so, here are the following methods:

Mobile Banking 

• Log in to the Emirates Islamic mobile app 
• Go to the cards section and click on ‘Credit Card’
• Select balance conversion under the services section 
• Click on the ‘New Instalment’ option and enter the amount and tenure 
• Review the details and enter the SmartPass PIN to proceed

Online Banking 

• Access the online banking facility and enter your username and password 
• Click on the Cards tab and select the credit card option
• Choose a balance conversion service 
• Click on ‘New Instalment’ and then enter the tenure and amount to be converted
• After submitting, you will get an authorisation request on the mobile app 
• Enter SmartPass PIN and pay the loan amount from a suitable option

Conclusion

The complicated paperwork and documentation involved in traditional loan options make it a stressful process. But thanks to the Emirates Islamic credit card loan facility, which eases the accessibility of funds in an emergency. The bank offers a range of loan options on CC to get the money directly into your account. Not just this, it offers flexibility allowing you to repay the amount online with easy EMI options. 

Frequently Asked Questions