Personal Loans in UAE for UAE Nationals
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Advantages
- Free rewards credit card
- Overdraft facility on current account
- Phone banking facility
Features
- Repayment period is up to 4 years
- The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
- The loan is provided for a interest rate of 6.75%
Features
- Repayment period is up to 4 years
- The loan is provided for a interest rate of 6.75%
- Minimum salary of AED 8000 is required
- The reduction rate and the flat rate is 6.75% and 3%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 1,000,000
- Early settlement fee is 1% of finance amount
- Arrangement fee is 1% of loan amount
Benefits
- High Finance amount is provided by the bank
- Along with this loan free credit card is offered
- Provides insurance coverage for permanent disability and death
Explore
Hide ExploreAdvantages
- Credit life insurance is not mandatory
- Quick processing & approval
- Flexible tenure
Benefits
- Applicants can get up to AED 1,000,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme Finance buy-out facility is also provided with this loan
Benefits
- Applicants can get up to AED 1,000,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme Finance buy-out facility is also provided with this loan
- Determent facility available - maximum 2 times a year without additional profit
Advantages
- High loan amount
- Simple documentation
- Can avail top-up facility
Benefits
- Applicants can get up to AED 3,000,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme
Benefits
- Applicants can get up to AED 3,000,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme
- Availability of Islamic Finance option
Advantages
- Free takaful insurance
- High loan amount
Features
- You are provided with an option to buy-out your present personal finance
- There are no hidden charges
- The reduction rate and the flat rate is 5.99% and 2.75%. This denotes that the computation done was a division of the reduction rate by 1.814
Features
- You are provided with an option to buy-out your present personal finance
- There are no hidden charges
- The loan is provided for a interest rate of 5.99%
- Minimum salary of AED 5,000 is required
- The reduction rate and the flat rate is 5.99% and 2.75%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary
- Finance up to AED 3,000,000
- Early settlement fee is 1% of the loan amount
- Arrangement fee is 1% of loan amount
Benefits
- Applicants can get up to AED 3,000,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme
- Provides free Takaful insurance along with this scheme
Features
- Maximum tenure of 48 months is provided
- Applicant must be UAE national of at least 21 yrs old
- Get fixed Interest rate at 4.89 % per year for Multi Product Package (with a salary transfer to your FAB account and holding a credit card from FAB) <br> Get Variable interest rate of 5.95% per year for a salary transfer to your FAB account without holding a FAB credit card <br> Reducing rates starts at 5.95% <br> Get up to AED 10,000 FAB rewards when you transfer salary to FAB account holding FAB credit card<br> Offers are valid only for UAE Nationals<br> This is a Variable Interest Rate Loan linked to a Personal Loan Base Rate<br> Interest rates listed are effective rates of outstanding balance<br> Interest rates may vary depending on credit score, approval criteria and income.
Features
- Maximum tenure of 48 months is provided
- Applicant must be UAE national of at least 21 yrs old
- Get fixed Interest rate at 4.89 % per year for Multi Product Package (with a salary transfer to your FAB account and holding a credit card from FAB)
Get Variable interest rate of 5.95% per year for a salary transfer to your FAB account without holding a FAB credit card
Reducing rates starts at 5.95%
Get up to AED 10,000 FAB rewards when you transfer salary to FAB account holding FAB credit card
Offers are valid only for UAE Nationals
This is a Variable Interest Rate Loan linked to a Personal Loan Base Rate
Interest rates listed are effective rates of outstanding balance
Interest rates may vary depending on credit score, approval criteria and income. - A minimum monthly salary of AED 7000 is needed
- A maximum loan amount of AED 5 Million is provided
Benefits
- You can achieve financial goals with FAB personal loan by enjoying the best interest rates which start at 4.89 percent per year
- Get the privilege of flexible repayment with 180 days first installment grace period.
- Minimum documentation
- Quick approval
- Comprehensive life insurance coverage
Advantages
- Free Credit Card
- Only 1 month salary transfer is required
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- The reduction rate and the flat rate is 5.5% and 2.99%.
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- The loan is provided for a interest rate of 5.5%
- Minimum salary of AED 10,000 is required
- The reduction rate and the flat rate is 5.5% and 2.99%.
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 4,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is 1.05% of loan amount
Benefits
- Free Credit Card is provided along with this scheme
- For the first year free of annual fee
- Repayment period is long
- Low minimum salary requirement is there for this scheme
Advantages
- No processing fees
- Free ADIB Booking.com Signature Card
- Can postpone 2 installments per year
Overview
- No processing fees are charged </li>
- Can postpone 2 loan installments without any charges getting levied
- Should submit latest bank statements
Overview
- No processing fees are charged
- Can postpone 2 loan installments without any charges getting levied
- Should submit latest bank statements
- Can get 120 days grace period before paying the first installment
- High loan amount can be availed
- Salary transfer is mandatory
- Provides a free credit card with no annual fees in the first year
Advantages
- Free debit card
- Current account with no minimum balance
- Can avail top-up facility
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- The reduction rate and the flat rate is 5.5% and 3%. This denotes that the computation done was a division of the reduction rate by 1.836
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- Enjoy the benefit of competitive interest rates & Interest rates range from a low 5.50% to a maximum of 18% per annum (reducing).
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.5% and 3%. This denotes that the computation done was a division of the reduction rate by 1.836
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 2,500,000
- Early settlement fee is 1% of finance amount
- Life insurance is provided at 0.82%
- Arrangement fee is 1% of loan amount
Benefits
- For every loan amount of AED 100,000 you can earn up to 500 Attijari points
- High Finance amount is provided by the bank
- Availability of buy-out facility
- Determent facility available - maximum 2 times a year without additional profit
- Free Debit Card is provided along with this scheme
- Free Current Account is provided along with this scheme with no minimum balance requirement
Advantages
- Can settle existing debts
- Follows Sharia principles
- High finance is provided
Overview
- Can settle existing debts
- Only UAE nationals are eligible
- Salary transfer is mandatory
Overview
- Can settle existing debts
- Only UAE nationals are eligible
- Salary transfer is mandatory
- Can get finance based on sharia principles
- Interest rates are based on the applicant’s profile
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- The interest rate starts at 5.14%
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- Minimum salary of AED 6,000 is required
- The interest rate starts at 5.14%
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 2,000,000
- Early settlement fee is 1% of loan amount
- Arrangement fee is 1% of loan amount
Benefits
- Can get up to AED 2,000,000 loan amount
- Repayment period is long
Personal Loans for UAE Nationals
Personal Loans are provided on competitive profit rates by several banks and financial institutes in the UAE region. The loan applicant has to meet the eligibility criteria and submit the required documents to get a personal loan in the UAE. The finance amount provided for UAE nationals is high and there is no collateral requirement being an unsecured type of loan. Several banks in the UAE provide personal loans for UAE. To find the best one that suits your preferred rates you need to compare personal loans and select the right one.
Top 10 Personal Loans for UAE nationals
| Personal Loan | Minimum Salary | Loan Amount | Interest Rate(onwards) | Benefits |
| ADIB Personal Finance for UAE Nationals | AED 8000 | AED 3000K | 3.72% | Free credit card and No processing fees |
| RAK Bank Personal Loan | AED 3000 | AED 1500K | 2.75% | Free Credit Card is provided |
| CBI Personal Loan | AED 8000 | AED 1000K | 3% | Free Rewards Credit Card is provided |
| ADCB Personal Loan for UAE Nationals | AED 10,000 | AED 1500K | 2.89% | Free Credit Card |
| Emirates NBD Personal Cash Loan | AED 6000 | AED 800K | 4.86% | Salary transfer is not required |
| Mashreq Personal Loan for UAE Nationals | AED 10,000 | AED 3000K | 3.3% | High finance is provided |
| National Bank of Fujairah Personal Finance | AED 10,000 | AED 3000K | 2.75% | Free takaful coverage is provided |
| FAB Personal Loan for UAE Nationals | AED 7000 | AED 5000K | 5.12% | High finance amount |
| Dubai Islamic Bank Liability Settlement Finance for UAE Nationals | AED 10,000 | AED 4000K | 6.06% | High finance amount |
| Emirates Islamic Personal Finance for UAE Nationals | AED 5000 | AED 4000K | 2.99% | Free Credit Card |
Eligibility of Personal loans for UAE Nationals
The basic eligibility criteria for nationals to get a personal loan in UAE are,
- Minimum salary: AED 3000
- Minimum age requirement: 21 years
- Maximum age: 65 years(at the end of the loan tenure)
- Salaried and Self-employed individuals are eligible
- Employment status: Length of service at the current employer must be 6 months or must have a confirm employment letter
- Salary transfer: Salary transfer criterion depends upon the bank and the applicant’s profile
- Employment company must be listed with the bank
Documents Required for UAE Nationals
The basic documents required for UAE nationals for a personal loan are,
- Identity Proofs - Emirates ID
- Employment Proofs - Salary certificate, Salary transfer letter, 3-6 months bank statements
- Trade Licence for Self Employed individuals
Banks request for more documents which vary with each applicant.
Features of a Personal loan for Nationals in UAE
- Maximum Loan Amount: Though the maximum loan UAE nationals can get depends upon the applicant’s monthly income, credit report, DBR, etc, AED 5000K is the maximum finance that is provided.
- Profit Rate: The profit rates charged starts from 1.62% (Flat rate) and 2.94% (reducing rate)
- Processing Fees: The processing fees offered are 0% - 2%
- Early Settlement Fees: The Early settlement fees offered ranges between 0% - 2%
- Islamic Finance: Most of the banks in the UAE offers both Islamic finance and conventional finance options
- Tenure: The maximum tenure provided is 4 years.
Benefits of a Personal loan for Nationals in UAE
Banks provide personal loans with some perks that are beneficial for the applicant. Like
- No processing fees
- No early settlement fees
- Free credit card on the loan
- Free Debit Card on the loan
- Can skip loan installments
- Free takaful coverage can be availed
FAQs
⭐ What are the charges levied for takaful coverage on the personal loan?
A. The charges levied for takaful coverage on a personal loan is up to 2%. Some banks offer free takaful coverage on the loan as well.
⭐ Can I get my personal loan tenure extended?
A. Yes. If the bank agrees to extend your loan tenure which is called refinancing, you can get your personal loan tenure extended.
⭐ Is it mandatory to transfer the salary for the personal loan?
A. At most of the banks in the UAE, it is mandatory to transfer the salary to get a personal loan. However, there are banks that offer personal loans without salary transfer.