Liv launches digital lending proposition with zero fees

By Delisha Fernandes

Liv, a digital bank powered by Emirates NBD, has launched an exciting new digital offering. Until the end of 2023, eligible Liv customers can benefit from instant personal loans without fees via the Liv app.

The digital bank offers personal loans with an interest rate of just 8.99% per annum and flexible payment terms of 12-48 months. To be eligible for the offer, customers should not have an existing personal loan on Liv and must transfer a salary of more than AED 5,000 to their Liv account for at least three months.

Marwan Hadi, Group Head, Retail Banking and Wealth Management at Emirates NBD, said, “Liv continues to introduce first-in-the-market innovative products to its platform, solidifying its position as the unrivalled champion of digital banking in the UAE. Through innovative products and fully digital offerings like these, we aim to support our customers’ financial goals and aspirations, while delivering exceptional digital experiences.”

The digital bank also offers a credit card that enables one-click switching rewards between Skywards miles and cashback as well as the popular Goal Accounts, a digital service that allows customers to set and forget automated rules (for example, pay-yourself first) to easily save money for their financial goals, all the while earning attractive returns on their balances.

Pedro Sousa Cardoso, Chief Digital Officer, Retail Banking and Wealth Management, Emirates NBD, said, “While UAE banking consumers remain spoilt for choice, Liv addresses the urgent need for a redefined banking experience that is simpler and more accessible. Liv empowers customers who are looking to have an alternate banking account and relationship in the UAE with some of the most innovative products and services in the market.”