Personal loan

I’m interested in a Personal Loan. What do I need to know?

A Personal Loan is a financing option that helps you finance your needs and goals. We offer loans up to AED200,000, at an interest rate of 8.99% (reducing balance criteria). You can choose between tenures of 12, 24, 36 and 48 months.

To be eligible, you need to transfer a salary of AED5,000 or more to Liv for at least 3 months before you can apply. Your debt-burden ratio should also be below 50%.

How can I apply?

Under the products tab, click ‘Liv Personal Loan’ and apply now. It takes under a minute and there is no documentation required other than your Emirates ID!

Yay! I have my Liv Personal Loan How do I manage it?

Congrats! Your Personal Loan dashboard in the app is your go-to place for managing your loan:

  • Make a payment, or defer a payment until next month
  • Pay off a little extra than your monthly installment amount
  • Pay off the rest of your loan amount
  • View your payment history, including the next due amount and date

What are the fees and charges?

Fee Description Applicable Charges
Loan Processing Fee 1% of the loan amount (min AED 500 and max AED 10,000)
Late Payment Charge AED 50
Installment Deferment Fee AED 100
Early Settlement Fee 1% of outstanding amount (max AED 10,000)
Clearance Letter Free
Partial Payment 1% of payment made (max AED 10,000)
Loan Cancellation Fee AED 50

Help! I missed a payment. What should I do?

Staying up to date on your payments will help you maintain a strong AECB credit score. Your missed payment will be deducted the next month, in addition to the next month’s payment along with a late payment fee of AED 50.

Or you could go to the Payments section of your Personal Loan dashboard in the Liv app and pay the missed amount instantly. A late payment fee of AED 50 (+VAT) would still apply.

My request has gone under review. What does this mean?

We are currently reviewing your Personal Loan request, and someone will reach out to you to complete the application. This may include some further documentation from you, which will be informed to you by one of our agents.

Liv Library