Personal loan in UAE

We all require a personal loan at least once in our life, be it for any reason such as renovation, for lump sum payment, vacation etc.  With the growing standards of living and budding economic development, UAE has the presence of some internationally recognized banks along with numerous domestic ones. These banks provide various financial products at several benefits. Out of which personal finance has become one of the most preferred short-term credits in UAE.

Top Personal Loans in UAE

BankMinimum SalaryInterest Rate (Per annum)
Abu Dhabi Islamic Bank (ADIB)AED 80006.25% – 6.99%
Abu Dhabi Commercial Bank (ADCB)AED 60004.99% – 14%
Dubai Islamic Bank (DIB)AED 300011% – 20%
First Abu Dhabi Bank(FAB)AED 7000From 2.61%
RAK BankAED 3000From 5.99%
Emirates NBDAED 50004.49% – 19.99%
Emirates Islamic BankAED 50004.69% – 5.78%
HSBCAED 75005.99%
Union National BankAED 50004.5% – 9%
Commercial Bank International (CBI)AED 8,000From 3.45%

Maybe interested: Calculate your personal finance EMI using Personal Loan Calculator  

Check the details of Top 10 Personal Loans in UAE 

Abu Dhabi Islamic Bank (ADIB) 
ADIB

ADIB is one of the leading banks in UAE. It provides personal finance of up to AED 3 million for UAE nationals and AED 1 Million for expats. It is one of the best personal loans in UAE.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 8000 
  • Interest Rate: 6.25% – 6.99%(Per annum)

Some benefits of ADIB personal loan are

  • ADIB VISA Cashback Card is provided as complimentary on loan approval
  • Can avail a grace period of maximum 90 days before making 1st installment
  • Option to postpone installments annually 
  • Takaful cover is provided  
  • 1% discount on existing profits and no processing fee for new customers  

Abu Dhabi Commercial Bank (ADCB
ADCB

ADCB provides attractive loan options to both expats and UAE nationals. They offer flexible, low-cost loans for expatriates residing in the UAE. It offers competitive interest rates, high finance, long tenures and easy eligible criteria.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 6000 
  • Interest Rate: 4.99% – 14% (Per annum)

Some benefits of ADCB personal loan are:

  • Higher salary multiples
  • Longest repayment period
  • Free credit life insurance
  • Free ADCB Credit Card
  • Upto 2 times salary overdraft 

Dubai Islamic Bank (DIB)
DIB

DIB provides Sharia-compliant personal finance. The bank also offers various other personal loan products in UAE at the most competitive profit rates.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 3000 
  • Interest Rate: 11% – 20% (Per annum)

Some benefits of Dubai Islamic bank personal loan are:

  • Maximum loan amount of AED 4,000,000 for UAE nationals and AED 2,000,000 for expatriates.
  • Tenor: 48 months
  • Low minimum salary requirement  

First Abu Dhabi Bank(FAB)
Fab bank

FAB provides personal loans up to AED 5 million for UAE Nationals and AED 2 million for expatriates, with flexible repayment terms of up to 48 months and competitive interest rates.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 7000 
  • Interest Rate: From 2.61% (Per annum)

Some benefits of FAB personal loan are:

  • Comprehensive life insurance cover is provided on certain loans
  • People New to UAE or Employment are also eligible for a personal loan
  • Low-profit rates  

National Bank of Ras Al-Khaimah PJSC (RAKBANK)
rakbank

RAKBANK provides personal Loan amounts at low-interest rates, with flexible repayment tenure up to four years for expats and UAE nationals (Armed Forces Staff get up to 5 years). 

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 3000 
  • Interest Rate: From 5.99% (Per annum)

Some benefits of RAKBANK personal loan are:

  • Top up loan available after 1 year
  • Free RAKBANK Debit Card and personalized chequebook
  • Free RAKBANK Credit Card with no annual fee and low-interest rates
  • Low minimum salary requirement 

Emirates NBD Bank
emirates nbd

Emirates NBD bank provides an array of various personal loan products. The loans are easy to avail and are available at a competitive interest rate. They even consider and provide customers with personal cash loan who are not on the list of NBD approved companies.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 5000 
  • Interest Rate: From 4.49% – 19.99% (Per annum)

Some benefits of Emirates NBD personal loan are:

  • Loan repayment period of 1- 4 years
  • A wide range of personal finance to match the needs of different customers
  • Can avail automatic top-up of the loan 
  • Loans for people New to UAE/New to employment is provided

Emirates Islamic Bank
emirates islamic

Emirates Islamic bank provides Shari’a compliant personal finance through Shares or Wakala Certificates. The loan is available for both UAE nationals and expatriates for salaried and self-employed customers at competitive profit rates.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 5000 
  • Interest Rate: From 4.69% – 5.78% (Per annum)

Some benefits of Emirates Islamic Bank personal loan are:

  • UAE Nationals can get loan up to AED 3 Million and Expats can get loan up to 1 Million
  • Quick approval of loan
  • Can get a pre-approved credit card with 0 annual fees in the 1st year
  • Nominal arrangement fees
  • Exclusive terms for buyout loan applicants
  • Certificate of Takaful / Insurance Cover 

HSBC Bank 
hsbc

HSBC bank provides loans based on reducing the balance. i.e. the interest is calculated on a monthly basis on the remaining principal amount. At HSBC, you can apply for a Personal Loan online and get approval within 10 minutes.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 7500 
  • Interest Rate: From 5.99% (Per annum)

Some benefits of HSBC personal loan are:

  • Easy online Personal Loan approvals in principle in 10 minutes or less 
  • No credit life insurance required 
  • Quick processing 

Union National Bank (UNB
unb

UNB provides a wide array of personal finance products catering to all sorts of requirement such as rent, education, renovation etc. It provides personal finance to both UAE nationals and expatriates.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 5,000 (for expatriates) and AED 10,000 (for Emiratis)
  • Interest Rate: From 4.5% – 9% (Per annum)

Some benefits of UNB personal loan are:

  • Maximum loan amount of up to 20 times the salary
  • Maximum loan tenure of 48 months
  • Low-profit rates  

CBI (Commercial Bank International) 
cbi

Commercial bank international provides loans for salaried individuals, self-employed and health care professionals. It provides a high loan amount and on an easy application process.

Minimum Salary & Interest Rates: 

  • Minimum Salary: AED 8,000 
  • Interest Rate: From Flat rate: 3.45% and Reducing rate: 6.25%

Some benefits of CBI personal loan are:

  • Can avail 20 times the salary as loan
  • Can get a pre-approved credit card
  • Can avail overdraft facility on the current account provided
  • Provides insurance coverage

This completes our list of top 10 personal loans offered by various banks in UAE. Do make sure you compare personal loan in UAE and do a thorough check on the pros and cons of availing personal finance pertaining to the situation or from any particular bank for that matter.

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