Liv, UAE's First Digital Bank, Launches Instant Personal Loans

Published 9 months ago

Emirates NBD’s digital banking arm, Liv, has announced an innovative new digital offering. The UAE’s first digital bank is providing eligible customers with the opportunity to avail instant personal loans with zero fees via the Liv app until the end of 2023.

No-Fee Personal Loans with Low Interest Rates

The digital bank’s new offering includes personal loans with a competitive interest rate of just 8.99% per annum, and flexible repayment terms ranging from 12 to 48 months. The conditions for eligibility include not having an existing personal loan on Liv, and a salary transfer of more than AED 5,000 into the Liv account for at least three months. The fees incurred during the promotional period will be reimbursed to the customers within the month.

Liv Continues to Innovate in Digital Banking

The promotion is in line with Liv’s brand motto of ‘Liv Ahead’, seeking to empower ‘Generation Now’, which includes young professionals and digitally-minded consumers. Marwan Hadi, Group Head of Retail Banking and Wealth Management at Emirates NBD, stated that Liv continues to introduce innovative products and fully digital offerings to its platform, reinforcing its position as a leading force in digital banking in the UAE.

Redefining the UAE Banking Experience

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, pointed out that while UAE banking consumers have many choices, Liv addresses the urgent need for a simpler and more accessible banking experience.

Leading with Innovative Products and Services

Liv has been a trailblazer in the digital banking sector, introducing the Bonus Multiplier Account, which rewards customer loyalty with a 3% increment on their monthly salaries. It was also the first to offer the Money Ahead Deposit, a 4-month fixed deposit providing up to 4% interest upfront.

Liv also provides the only credit card in the region that allows one-click switching between Skywards miles and cashback. It also offers the unique Goal Accounts service, which enables customers to automate savings for their financial goals while earning attractive returns. The Liv Young app, designed for those aged between 8-17 years, has also gained significant market interest.