PDC Loan
A PDC Loan (Post-Dated Cheque Loan) in the UAE is a type of personal loan where borrowers provide post-dated cheques as a guarantee for repayment. Here’s what you need to know:
Features of a PDC Loan in the UAE
No Salary Transfer Required
Most PDC loans do not require a salary transfer, making them accessible to more borrowers.
Post-Dated Cheques as Security
Borrowers issue cheques for future installment payments. If a cheque bounces, legal action may be taken.
Loan Amount
The loan amount depends on the applicant’s income, bank history, and employer status.
Flexible Repayment Period
Typically ranges from 12 to 48 months.
Higher Interest Rates
Interest rates may be higher than regular salary-transfer loans due to the increased risk.
Quick Processing
Approval and disbursal can be within 24–48 hours for eligible applicants.
Available for Expats & UAE Nationals
Expats can also apply, but requirements may be stricter.
Eligibility Criteria
Minimum Salary: Usually AED 5,000–8,000 per month.
Age Limit: 21–60 years (or up to 65 for UAE nationals).
Employment: Must be working for a company listed with the bank or have a steady income source.
Credit Score: A good credit history improves approval chances.
