Overview
A Wio Business Loan is a tailored financing solution designed to help your business manage cash flow, purchase equipment, expand operations, or meet working capital requirements. Once approved, the loan funds are credited directly to your main AED Current Account and can be repaid in convenient, fixed monthly instalments.
Key Benefits & Features
Tailored Financing: Borrow amounts starting from AED 50,000 up to AED 3,000,000, tailored to your business needs and credit profile.
Instant Account Disbursement: Upon acceptance and fee processing, your funds are credited directly to your Wio Business AED account.
Flexible Repayment Tenures: Choose a repayment period of 6, 12, 24, 36, or 48 months.
Automated Monthly Payments: Monthly instalments are automatically deducted from your Wio Business account on your scheduled payment date.
Transparent Pricing: Clear, fixed reducing interest rates ranging from 9% to 22% per annum (reducing rate), with all fees disclosed upfront.
Loan Limits & Security Requirements
Loan Structure | Loan Amount Range | Requirement |
Standard Business Loan | Up to AED 250,000 | No collateral or security cheque required |
High-Value Business Loan | AED 250,000 to AED 1,000,000+ | Requires a Security Post-Dated Cheque (SPDC) for 120% of the loan amount |
Higher Facility Business Loan | Up to AED 3,000,000 | Assessed on business profile and security structure |
Eligibility Criteria
To be eligible to apply for a Wio Business Loan:
Account Status: Your Wio Business account must be active, and company documents (Trade License, Emirates ID, Passport) must be valid.
Signatory: Available for single-signatory business accounts.
Business Age: Minimum of 1 year in business (from company incorporation date).
Annual Turnover: Minimum annual business turnover of AED 375,000.
Plans Supported: Available for both Essential and Grow plan customers.
Active Loans: Only one active business loan application can be processed at a time.
How to Apply
Option A: Apply via the Mobile App
Open the Wio Business app and navigate to Credit on your dashboard.
Under the Business Loan section, review the introduction and tap Apply.
VAT Information: Select whether your business reports VAT quarterly, monthly, or is exempt. Upload your last 2 filed VAT returns (if applicable).
Company Turnover: Confirm your expected annual turnover across all UAE business accounts.
Bank Accounts: Confirm your company bank accounts. If you hold non-Wio accounts in the UAE, providing them can help speed up review and increase your eligible limit.
Review your submitted details and tap submit application.
Option B: Apply via Web Banking
Log in to the Wio Business web portal and go to your Credit dashboard.
Select Simple business loan.
Select your reason for borrowing and enter your requested loan amount.
Provide company details: number of employees, where you sell goods/services, and a brief description of your business.
Confirm turnover, submit VAT statements, and add any additional business bank accounts or addresses.
Review the summary and tap Submit application.
Review Timeline: Application reviews typically take 3 to 5 business days. You will receive an in-app and email notification as soon as your decision is ready.
How to Accept Your Loan Offer & Receive Funds
Once your loan is approved:
Log in to the Wio Business app, tap your approval notification, or navigate to Credit > View Offer.
Select Amount & Duration: Choose your desired loan amount (up to your approved limit) and select your tenure (6, 12, 24, 36, or 48 months).
Tip: If you want to increase your eligible loan limit, you can tap Get More to lower your linked credit card limit (minimum credit card limit is AED 1,000) and tap update limit.
Review Repayment Plan: Review your monthly instalment (EMI), total interest, first repayment date, and the 1% processing fee.
Fund Your Account: Ensure your AED Current Account has sufficient balance to cover the one-time 1% processing fee.
Sign the Agreement: Tap next to receive a One-Time Passcode (OTP) on your registered mobile number, which serves as your digital signature.
Once signed, the 1% processing fee is deducted, and your loan amount is disbursed instantly to your AED account.
Interest Rates & Fee Structure
Fee / Item | Details |
Interest Rate (Reducing Balance) | 9% to 22% per annum (determined by business profile and tenure). |
One-Time Processing Fee | 1% of the disbursed loan amount (debited upon signing the agreement). |
Early Repayment / Prepayment Fee | 1.05% of the early repayment amount (Minimum AED 52.50, Maximum AED 10,500). |
Late Payment Fee | AED 199 applied on Day 6 if a monthly instalment is not paid by the due date. |
Understanding Reducing vs. Flat Interest
Reducing Balance Rate (Standard): Interest is calculated monthly only on your remaining outstanding principal. As you pay down the loan, the interest portion of your monthly payment decreases.
Fixed Equal Instalments (EMI): Your total monthly payment remains constant each month, while the portion going toward the principal increases over time.
Managing Your Loan & Repayments
How Monthly Deductions Work
Your monthly instalment is automatically debited from your main Wio Business AED account on your fixed monthly due date (cut-off time is 10:00 PM).
You can enable the Autopay from saving space toggle in your loan settings to allow automatic deductions from your savings spaces if your main balance is insufficient.
How to Make an Early / Manual Repayment
Go to Credit > Business Loan in the Wio Business app.
Select Payback.
Enter the amount you wish to pay (minimum partial payment is AED 1,000) or enter the full balance to settle the loan.
Review the payment breakdown (including any applicable prepayment fees) and swipe to confirm.
Your loan balance and repayment schedule will update instantly.
How to Download Statements & Schedules
Navigate to Credit > manage (or Manage Business Loan).
Download your Amortization schedule, Credit agreement, Key Fact Statement (KFS), or Download statement.
Frequently Asked Questions (FAQs)
What documents will I receive after loan disbursement?
You will receive an email containing your signed digital loan agreement, the Key Facts Statement (KFS), and your complete Amortization Schedule detailing every monthly payment, principal, and interest breakdown.
Can I change my monthly payment due date?
No. Your monthly repayment date is fixed based on your loan agreement and disbursement date.
Can I apply for more than one business loan at a time?
You cannot submit multiple business loan applications simultaneously. However, you can hold different types of credit products at the same time (such as a Wio Business Loan and a Wio Business Credit Card facility), subject to overall eligibility.
What happens if I miss a monthly payment, and how does it affect my credit score?
A 5-day grace period is provided. If your payment is not received by Day 6, an AED 199 late payment fee is applied and daily interest will continue to accrue on overdue amounts. Wio updates and reports account statuses and repayments to the Al Etihad Credit Bureau (AECB) every 10 days, so missing scheduled payments will directly impact your business credit record.
How long is my approved loan offer valid?
Approved offers remain valid for 30 days. If not accepted within 30 days, the offer will expire without affecting your credit record.
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