Loan on Card

Loan on Card (LOC) program allows you to get a portion of your available Credit Card limit as cash. The amount selected will be transferred directly to your Liv main account

This program is available for all active Liv Credit Card holders with minimum credit limit of AED 1000.

You can get a maximum loan of up to 90% of your available Credit Card limit. The amount varies based on your eligibility and available Credit Card limit.

You can choose to repay the amount in 12, 18, 24, 36, or 48 months.

Loan on Card interest is a reducing monthly interest rate which means the interest is only calculated on the outstanding loan amount and is calculated based on 365 days year (366 days for leap year). Interest rates are subject to changes on periodic basis.

Upon a successful request through the Liv app, your Loan on Card option will be processed & reflected instantly on your account and will be shown in your Credit Card statement.

Currently, the plan is free. Fees are subject to changes on periodic basis. Please refer to our price plans for updates

Currently, there are no reward points associated with the 'Loan on Card' facility.

Loan on Card option is given based on your available Credit Card limit. On repayment of your monthly installments, the amount repaid will become a part of your new available Credit Card limit.

Your total loan payable amount is calculated by adding the principal amount of the loan, interest during the selected tenor, and the one-time processing fee (if applicable). Your monthly EMI will consist of the however only your first EMI will include any processing fee as applicable

Sample calculation for 12 months Loan on card for 10,000 AED with 0.89% pm

You can cancel an existing loan on card plan by initiating the request via a chat with an agent. A foreclosure fee of 1% of the outstanding principal plus 5% VAT will be applicable.

Your Loan on Card plan will remain active. If the prepayment is done with an intention to cancel the plan, chat with us and request for a cancellation. Upon cancellation, the prepayment will be adjusted towards the Loan on Card outstanding and a foreclosure fee of 1% of the principal outstanding plus 5% VAT will be applied.

A monthly installment must be paid towards your Loan on Card plan. However, if you fail to repay your installments for two consecutive months, your plan will automatically be foreclosed. Your entire outstanding balance from the Loan on Card plan will immediately be due for payment in full. The remaining outstanding balance will then have our regular finance charges.

When your Credit Card cancellation is processed, all active plans on the Card will automatically be closed, a foreclosure fee and remaining outstanding balance will be due for payment in full.