When it comes to making a personal loan application to the UAE, A good credit rating and meeting your lender’s minimum eligibility requirements are one of the key factors in deciding whether your loan application will be approved or not.
When every bank in the United Arab Emirates demands a minimum wage for approval. Some have established a minimum amount of AED 5000 for the loan.
But that doesn’t mean you can’t get a personal loan on a salary of up to AED 5,000. Based on the basic needs of its clients, some lenders offer personal finances with a monthly salary of AED 5,000 or less.
Let’s take a look in khoCAR at some consumer loans that are particularly available to people with relatively low incomes:
Top Banks that Offer Personal Loan in UAE
| Personal Loan Providers | Flat Interest Rate | Reducing Interest Rate | Minimum Salary Required |
| Dubai Islamic Bank Personal Loan | 3% | 11% | AED 3000 |
| Emirates NBD Personal Loan | 2.90% | 5.49% | AED 5000 |
| ADCB Personal Loan | 3.30% | 6.00% | AED 5000 |
| Samba Salary Transfer Personal Loan | 4.83% | 9.00% | AED 5000 |
| RAKBANK Personal Loan | NA | 3.99% | AED 3000 |
| Finance House Personal Loan | NA | 20% | AED 5000 |
| Emirates Islamic Bank Personal Finance | 3.99% | 7.34% | AED 5000 |
| Deem Finance Personal Loan | 8.81% | 15.99% | AED 5000 |
1. Dubai Islamic Bank Personal Loan
The personal loan of the Islamic Bank of Dubai is coupled with a wide range of advantages, in which the bank offers a personal loan of less than 5000 salaries. The bank offers a large amount of financing and a flexible payback period at a low interest rate.
The following are the main features and benefits of Personal Finance provided by Dubai Islamic Bank:
Highlights:
- High financial amount of a maximum of AED4 million for Emiratis and AED2 million for expatriates.
- Flexible payback for up to 48 months.
- Quick & easy approvals.
- Attractive profit ratio.
- Straightforward and
minimum documentation process.
- There are no hidden fees.
Why should I buy a Dubai Islamic Bank Personal Loan?
Among the many personal loan deals, the Islamic Bank of Dubai’s personal loan stands out because of its straightforward documentation process that makes it extremely practical and stress-free, ensuring you get the necessary funds quickly. The bank’s commitment to delivering the best service to its customers is more visible in their practical financial procedures.
2. Emirates NBD Personal Loan
Emirates NBD provides a personal loan to the UAE with 5000 salaries required for its customers in order to financially support the start-up of a new business or to meet their other monetary needs.
The loan may be used at a competitive interest rate with low processing fees. The main features and benefits of the personal loan provided by Emirates NBD include:
Features And Highlights
- Attractive interest rate from 5.49% reduction and 2.90% flat rate interest rate.
- No guarantee or warranty is necessary.
- Four-year payback period.
- Large amount of loan, up to AED 4 million.
- Minimum documentation and trouble-free process.
- The free back loan facility with a waiver of all fees and charges collected.
- Complimentary debit card & bank account provided.
- Get gift certificates valued at AED4, 000 by recommending a personal loan to a friend.
Why Choose Emirates NBD Personal Loan?
The minimum salary required for an Emirates NBD personal loan is AED 5,000 and is at the top of our list of the best banks for a personal loan in the UAE because they take care of your short-term cash requirements such as medical expenses, rent or any other emergency cash crisis without any issues. What’s more, their installation, functionality allows borrowers to obtain pre-approved loans quickly without any paperwork.
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3.ADCB Personal Loan
When it comes to the United Arab Emirates’ best bank for personal loans, the Abu Dhabi Commercial Bank (ADCB) tops the list. The ADCB staff loan is offered to nationals of the United Arab Emirates as well as expats. It provides a competitive interest rate, loan term extension, high rates of pay and flexible eligibility requirements. Below you will find the unique features and benefits of AfDB Personal Lending:
Main Features & Benefits Of ADCB Personal Loan
- Attractive rate of interest starting from 25 % reducing and 3.45 % flat interest rate.
- Higher salary multiples
- Minimal and hassle-free documentation.
- Loan consolidation is available.
- ADCB credit card on a complimentary basis.
- Takaful insurance offered with the scheme.
- Earn ADCB TouchPoints for every AED 1,000.
Why Choose ADCB Personal Loan?
Delivering on their promise to be inclusive of every member of the community, ADCB Bank is the best expatriate bank in Dubai. In addition to Dubai, the ADCB Personal Loan is committed to providing a flexible and affordable set of loans to UAE borrowers. Their competitive interest rates add another reason to the list of reasons why this is the best personal lending in Dubai and the rest of the UAE.
4. Samba Salary
TRANSFER PERSONAL LOAN
Samba Salary Transfer Personal Loan is the best loan in the UAE, especially for those earning a monthly income of AED5, 000. With such low salary requirements, this personal loan provides a higher loan amount to allow the borrower to meet their various financial requirements in a hassle-free way. Here are some of the main features and benefits of a personal salary transfer loan from Samba:
Highlights and benefits of Samba Salary Transfer Personal Loan.
- Large loans amount up to AED 600, 000.
- Competitively priced interest rates.
- Loan up to twenty times your salary.
- Practical and flexible payback period of up to 4 years.
- No guarantee or warranty necessary.
- Automatically available for a Samba credit card.
- Life insurance up to and including loan amount.
Why Do I Need A Samba Salary Transfer Personal Loan?
Samba takes her place among the best banks in the United Arab Emirates for a personal loan because she lends up to 20 times the salary of the borrower,
make it easier to accumulate large amounts of money for someone who would otherwise not be eligible for a loan elsewhere. Its low salary requirement makes it possible for each individual to have a brilliant financial future. Since the loan requires no guarantor or collateral, the borrower is in control, thus making this an easy loan in Dubai.
5. RAKBANK Personal Loan:
RAKBANK is one of the best banks for a personal loan in the U.A.E. With a minimum monthly income requirement of AED5, 000, the bank provides a higher loan amount at an attractive interest rate for expatriates and UAE nationals.
Here are the main features and benefits of a personal loan with RAKBANK:
Key Features And Benefits Of RAKBANK Personal loans
- Attractive interest rate from 3.99% downwards and 2.75% fixed rate.
- Simple and quick loan approval.
- Flexible payback term of up to 4 years.
- Complete the loan within a year.
- Easily acquired control of other banks.
- RAKBANK Debit card and personal checkbook on a free basis.
- RAKBANK credit card with no annual fees and low interest rates on a free basis.
- Minimal documentation
- Phone banking service around the clock.
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Why Choose The RAKBANK Personal Loans To The United Arab Emirates?
As the best bank for a personal loan, RAKBANK allows you to spend six months paying back regular loans with one month of deferred payment. The bank is fairly flexible when it comes to keeping a minimum balance in your loan account and the RAKBANK Personal Loan Calculator calculates monthly EMR to allow borrowers to schedule their loan in advance. Factors like this definitely make RAKBANK the best bank for taking a personal loan from the UAE.
6. Finance House Personal Loan
Finance House is one of the best banks to take private loans in the United Arab Emirates. With a minimum required income of AED5000, the bank gives you a higher loan amount. Borrowers can get easy financing and move their personal loan to Finance House at low interest rates. The key features and benefits of Finance Canada’s personal finances include:
Highlights And Benefits Of Finance House Personal Loan.
- The interest rate is low.
- Flexible repayment period.
- No salary transfers necessary.
- Free lifetime loan card.
- Available for Emiratis and expat.
- No hassle and minimum documentation.
Why Choose The RAKBANK Personal Loan To The UAE?
Being the best bank for a personal loan, RAKBANK allows you to spend six months paying off regular loans with one month of deferred payment. The bank is pretty flexible when it comes to keeping a minimal balance in your loan account and.
The RAKBANK Personal Loan Calculator calculates the monthly EMR to enable borrowers to set up their loan ahead of time. Factors like this certainly make RAKBANK the best bank to take an UAE personal loan.
7. Emirates Islamic Bank Personal Finance:
Whether it’s tuition help, extra money for a trip abroad, home renovations or you simply want to start a new business, Emirates Islamic Bank personal loan will help you meet your different money needs. One of the best things about the lender is that it offers a personal loan to 5,000 salary-earning KAUs. Thus, everyone who earns a low wage can also benefit from this loan in order to achieve their various financial goals. The main features and benefits of the Islamic Bank of the United Arab Emirates consumer credit are as follows:
Highlights And Benefits Of Finance House Personal Loan:
- High loan value of up to 2 million for expatriates and 4 million for Emiratis.
- Attractive profit rate
- Only one month of pay transfer is required.
- Easy and timely approvals.
- Flexible repayment period of no more than 48 months.
- No additional fees or out-of-limit fees.
- Low processing charges.
- Shariah-based product
- The structure of Murabaha ensued.
- Credit card provided.
- Deem Finance Personal Loan
Why Should Emirates Islamic Bank Personal Loan in Dubai?
Emirates Islamic Bank offers the best personal loans in the country due to their flexible repayment procedures and fast underwriting process. Among the many banks offering personal loans, the Islamic Bank of the UAE has carved a special place because of its low rate of profit and higher amount of finance. In addition, clients benefit from the best services in the world thanks to the bank’s commitment to addressing personal finance needs in the United Arab Emirates.
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8. Deem Finance Personal Loan
Deem Finance is one of the best banks offering personal loans at a salary of AED5,000. He offers a large amount of loan to provide his clients with much needed financial support to start a new business, educate the child, consolidate debts or meet their other monetary needs. The loan can be used at an attractive interest rate and has a flexible repayment period. Key features and advantages of Deem Finance’s personal loan include:
Highlights
- Quickly approve the loan.
- Flexible payback period up to 4 years.
- Minimum paperwork.
- No payment transfer required.
- The interest rate ranges from 15.99% to 34.99% per annum.
- Deem Credit Life Plus protects your loan balance in an unexpected event of terminal illness and death to give you peace of mind.
Why Should Deem Finance Personal Loan in Dubai?
Undoubtedly one of the best banks for lending in the United Arab Emirates, the Deem Finance personal loan is remarkable for its fast application process. You don’t even need to get pre-approved in order to get credit. This flexible attitude toward salary transfer allows borrowers to make their loan payments from any bank account of their choice. The affordable monthly payment plan gives them an additional benefit, making them the most attractive personal credit bank.
