Top Up Facility

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HSBC First Loan

HSBC First Loan

HSBC First Loan
AED 2,000,000
Minimum Revenue
AED 126,620
Monthly Payment
10 %
Flat Rate
4
Maximum Term
Apply Now

Fetaures:

  • Competitive Interest Rates
  • Business Bank Account
  • Easy Documentation
  • No Salary Transfer
  • Top Up Facility
  • Affordable Interest Rates
  • Collateral Fee
  • Annual Turnover of 1 Million AED

Noor Bank understand your financial requirements may be big or small.  Business Finance will help you grow and is available across key emirates including selected free-zones.

Noor Business Finance Features:

  • Maximum amount: up to AED 4,500,000
  • Manage your day to day cash with Islamic Covered Facility of up to 15% of your Business Finance limit
  • Current account with zero balance
  • Flexible payments: up to 48 months
  • Pricing as low as 18% pa
  • Minimal documentation (see below)
  • Life Takaful coverage for authorised signatory or Managing partner

Documents Required

  • Application Form
  • 1 year bank statements + 2 years Audited Financials as applicable
  • Valid Constitution/ Incorporation/Rgistration Documents
  • Board Resolution / POA (as applicable)
  • Identification card (for U.A.E. Nationals) and passport + visa (for expats) of the authorized signatories
  • Tenancy contract & Utility Bills
  • Original invoices & list of staff
  • Visiting cards & location maps
  • Minimum length of business: 2 years
  • Minimum turnover of AED 2 million
Apply Now
Dubai Islamic Bank - Business Finance

Dubai Islamic Bank - Business Finance

Dubai Islamic Bank - Business Finance
AED 1,000,000
Minimum Revenue
AED 12,531
Monthly Payment
9 %
Flat Rate
4
Maximum Term
Apply Now

Fetaures:

  • No Salary Transfer
  • Top Up Facility
  • Business Bank Account
  • Annual Turnover of 1 Million AED

Dubai Islamic Bank's Al Islami Business Finance extends up to AED 1.5 million for businesses who think big. With a hassle-free approval process and business-friendly payment options, Al Islami Business Finance is the better way for all your business needs.

DIB Business Finance Features:

  • Finance up to AED 2.5 million
  • Competitive Profit Rates - 17%-24%
  • Financing based on Salam Finance
  • Flexible tenure from 6 months to 48 months
  • Minimum Annual Turnover - AED 1 Million
  • Minimum Annual Turnover 1000000
  • Minimum Loan Amount: AED 50,000

Unique features: 

  • The company should have a minimum annual sales turnover of AED 1,000,000 to be eligible for this finance
  • You do not need an account with the bank to apply for a business finance
  • The flat rate starts at 17% and can go up to 24% per annum, depending on company profile
  • The company should be at least 1 year old in order to qualify for finance

Fees & Charges: 

  • The early settlement fee is up to 1% of outstanding balance
Apply Now
Emirates Islamic - Business Finance

Emirates Islamic - Business Finance

Emirates Islamic - Business Finance
AED 150,000
Minimum Revenue
AED 12,206
Monthly Payment
8 %
Flat Rate
4
Maximum Term
Apply Now

Fetaures:

  • Top Up Facility
  • Business Bank Account
  • Affordable Interest Rates

Use our financing solutions to manage your cash flow, asset acquisition and expansion requirements for your business.

Features & Benefits:

  • Murabaha and Ijarah products
  • Designed to provide solutions for: Working capital and fixed assets financing of up to AED 3 million on an unsecured/partially secured basis or up to AED 5 million on a fully secured basis
  • Trade finance products including Sight/Time LC's, Cash LC's, LC murabaha financing and all types of letters of guarantee.Vehicle fleet, buses and heavy truck financing initial public offering (IPO) financing (on selective basis)

Fees & Charges:

  • Processing Fee: 1.50%
  • Settlement Fee: 5.00 %
  • Minimum Annual Turnover: AED 1,500,000
Apply Now

Top Up Facility

In the continuously developing economy of the United Arab Emirates (UAE), organizations frequently need monetary help to develop and grow, making the most out of the opportunities available, or getting through difficult times. One of the most helpful tools in this regard is the Top Up Facility, a feature monetary organizations offer that gives additional funding on existing business loans. In addition to the current loan amount, a top-up loan—also known as an additional loan—is a type of product financing. In this guide, we'll explore the challenges of the top up facility, its importance in the UAE market, and how organizations can use this feature to fuel their desired goals.

Understanding Top Up Facility

A business loan can be extended using the Top Up Facility, allowing borrowers to access more money than the original loan amount. This feature has its own set of terms and conditions, including interest rate and repayment plans, which might vary from the original credit terms. It offers organizations the adaptability to use extra capital without applying for a new loan, improving the borrowing process  and saving significant time and resources.

Top Up Loan in UAE

In the UAE, where there are multiple business opportunities but limited financial resources, the top up facility comes to the rescue for organizations looking to expand their operations or address unexpected expenses. Whether it's funding for inventory, equipment purchases, or marketing campaigns, organizations can take advantage of top up facility to meet diverse monetary needs. Moreover, the simplified application process and approval timelines of events make it an attractive choice for businessmen looking to grab the available opportunities quickly. 

Key Features and Benefits

Some critical Features and Benefits of top up facility loans in the UAE are:

  • Flexibility: The top up facility offers organizations the adaptability to access extra funds as and when required without the hassle of applying for a new loan.

  • Competitive Interest Rate: Monetary institutions often offer competitive interest rate on top-up loans, making it a cost-effective funding solution for organizations.

  • Fast Approval Process: Since the borrower's creditworthiness is already established through the existing loan, a top up loan approval process is generally faster than a new loan application.

  • Simplified Documentation: With much of the documentation already done at the time of applying for an existing loan, getting a top up loan does not require much documents for approval.

  • Consolidation of Debt: Organizations can use the top up facility to consolidate existing debts, simplifying their repayment obligations and potentially reducing overall interest costs.

Applying for a Top Up Loan

Applying for a top up loan in the UAE is somewhat direct. While applying for a Top Up Loan in Dubai, UAE, My banker is your trusted partner throughout the process. Our expertise in top up facilities guarantees that you can access the additional funds without any barrier. Whether you're looking to enhance your existing loan or searching for a top up loan in the UAE, we provide comprehensive guidance. From application to approval, My banker helps you in amplifying the advantages of this financial solution, guaranteeing comfort and effectiveness. With our help, applying for a top-up loan becomes a smooth process, enabling you to accomplish your monetary objectives with certainty. 

Final Thoughts

The top up facility is a significant device for organizations in the UAE trying to strengthen their monetary resources and pursue growth opportunities. By making use of this feature, business owners can get more money quickly and easily without having to apply for a new loan. However, in order to ensure long-term financial stability and sustainable growth, businesses must carefully assess their financial requirements and repayment capabilities prior to using the top-up facility. With My banker's help, applying for a top up loan becomes a smooth process, empowering you to accomplish your monetary objectives with certainty. Connect with us today to find the best loan for you.

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