No Salary Transfer Personal loan in UAE
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List of Personal loan in UAE without a Salary Transfer
Advantages
- Finance for sharia-compliant services
- High finance
Overview
- Provides finance to fund services
- Services include: Rent in advance, wedding, education, travel finance, etc that are sharia approved
- Can get the high loan amount
Overview
- Provides finance to fund services
- Services include: Rent in advance, wedding, education, travel finance, etc that are sharia approved
- Can get the high loan amount
- Low salary requirement
- Longer tenure is provided
- Hassle-free documentation
- Expats are eligible
Explore
Hide ExploreAdvantages
- Finance for sharia-compliant services
- High finance
Overview
- Provides finance to fund services
- Services include: Rent in advance, wedding, education, travel finance, etc that are sharia approved
- Can get the high loan amount
Overview
- Provides finance to fund services
- Services include: Rent in advance, wedding, education, travel finance, etc that are sharia approved
- Can get the high loan amount
- Low salary requirement
- Longer tenure is provided
- Hassle-free documentation
- Eligible for UAE nationals
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply
- The reduction rate and the flat rate is 5.69% and 3.14%. This denotes that the computation done was a division of the reduction rate by 1.814
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply
- The loan is provided for an interest rate of 5.69%
- Minimum salary of AED 5,000 is required
- The reduction rate and the flat rate is 5.69% and 3.14%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is not 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
- Arrangement fee is 1% of loan amount
Benefits
- Can get up to AED 2,500,000 loan amount
- Repayment period is long
- They provide finance against goods
Features
- Loan repayment period is up to 48 months
- The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
Features
- Loan repayment period is up to 48 months
- The rate is calculated on a reducing basis and varies between 14% and 23% depending on customer income and loan amount
- You require a minimum salary of AED 8,000 per month to be eligible
- It is not a requirement to transfer your salary to apply
- Maximum loan amount of AED 175,000
- 1% of outstanding principal is charged as Early Settlement fee
- Insurance is optional
- 1% of loan amount [Min AED500; Max AED2500] is charged as arrangement fee
Benefits
- No salary transfer required
- High Loan amounts up to AED 175,000
- Top up loan after 9 months
- Fast approvals
- Apply online from the comfort of your own home
- In principle approval in 10 minutes and get a decision in 24 hours
Features
- Get finance amount within three working days
- The reduction rate and the flat rate is 14.64% and 8%. This denotes that the computation done was a division of the reduction rate by 1.83
- The loan is provided for a interest rate of 14.64%
Features
- Get finance amount within three working days
- The loan is provided for a interest rate of 14.64%
- Minimum salary of AED 10,000 is required
- The reduction rate and the flat rate is 14.64% and 8%. This denotes that the computation done was a division of the reduction rate by 1.83
- It is not mandatory to transfer your salary
- Finance up to AED 100,000
- Early settlement fee is AED 0
- Arrangement fee is 1% of loan amount
Benefits
- Applicants can get up to AED 100,000 loan amount
- Documentation is simple and easy
- There is low salary requirement and long repayment period along with this scheme
- There is no early settlement fee
Features
- Quick and hassle-free documentation
- Can get pre-approval for the loan
- The maximum tenure of 4 years is provided
Features
- Quick and hassle-free documentation
- Can get pre-approval for the loan
- The maximum tenure of 4 years is provided
- Interest rate starts from 15.99% to 34.99% per annum
- A minimum salary of AED 5000 is required
Benefits
- Salary transfer is not mandatory
- Provides high loan amount
- Affordable monthly installments
- Quick processing of the loan
Advantages
- Provides finance for sharia compliant goods
- High loan amount
- Low salary requirement
Overview
- Provides finance to purchase goods
- Can get finance to purchase electronics, furniture, boat, jet skies, etc. and also sharia-compliant goods will be funded
- Maximum finance approved will be dependent on the applicant’s profile
Overview
- Provides finance to purchase goods
- Can get finance to purchase electronics, furniture, boat, jet skies, etc. and also sharia-compliant goods will be funded
- Maximum finance approved will be dependent on the applicant’s profile
- Provides finance for a low salary requirement
- Expats are eligible
Features
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
Features
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is upto 48 months
- The rates applicable depend on salary
- Copy of passport is required (with residence visa)
- The loan is provided for a interest rate of 7.5%
- A minimum salary of AED 8000 is required for UAE Nationals.
A minimum salary of AED 6500 is required for expats. - The reduction rate and the flat rate is 7.5% and 4.13%. This denotes that the computation done was a division of the reduction rate by 1.815
- It is not required to transfer your salary to apply
- Finance up to AED 3000000 for UAE Nationals, AED 1000000 for Expats
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Quick processing
- Simple documentation
- Pre-approved credit card with lifestyle benefits
- Repaying tenor of upto 4 years
- Low minimum salary requirement
- Takaful is offered free of cost
Features
- Provides loan against fixed deposits
- Long tenure is provided
- Both UAE Nationals and Expats can avail this loan
Features
- Provides loan against fixed deposits
- Long tenure is provided
- Both UAE Nationals and Expats can avail this loan
- Interest rate charged is Fixed Deposit Rate + 2% per year with a minimum of 2.49% (Fixed Rate)
- Maximum finance provided is AED 5 Million
Benefits
- Can pledge fixed deposit as collateral for a loan
- About 95% of the deposit amount is provided as maximum finance
- Competitive interest rates are charged
Advantages
- Provides finance for sharia compliant goods
- High loan amount
- Low salary requirement
Overview
- Provides finance to purchase goods
- Can get finance to purchase electronics, furniture, boat, jet skies, etc. and also sharia-compliant goods will be funded
- Maximum finance approved will be dependent on the applicant’s profile
Overview
- Provides finance to purchase goods
- Can get finance to purchase electronics, furniture, boat, jet skies, etc. and also sharia-compliant goods will be funded
- Maximum finance approved will be dependent on the applicant’s profile
- Provides finance for a low salary requirement
- Only UAE nationals are eligible
Personal Loan in UAE
The eligibility criteria for a personal loan in UAE involves several things amongst which salary transfer is mandatory at most of the banks. As personal loans are provided on no collateral banks expect the loan applicants to transfer salary to their respective bank accounts. This is basically to reduce the risk in getting the owed funds back.
But there are several banks understanding the need of the customers and providing a personal loan in UAE without salary transfer. This kind of loans are approved on low limitations but the rates and charges involved can vary when compared to the borrower who is transferring his salary.
Eligibility
| Features | Eligibility for NO salary transfer loan |
| Minimum Salary | AED 5000 |
| Age | 21 - 60 years |
| Nationality | Expats & UAE Nationals |
| Length of Work | Minimum 6 months to 1 year of service |
Documents Required
- 3-6 months bank statements
- Security cheques in the favor of the bank
- Salary Certificate
- ID Proofs like Emirates ID
- Passport
- Resident Visa
- Address proofs(utility bills)
Additional documents may be requested by banks
FAQs
⭐ Are expats eligible for a personal loan without salary transfer?
A. Yes, expats are eligible to avail personal loan in UAE without salary transfer.
⭐ Is their minimum salary requirement on no salary transfer loan?
A. Yes, there is a minimum salary requirement on salary transfer loans and the minimum salary required varies with banks.
⭐ Can I cancel the loan after approval?
A. Yes, loan approved can be canceled on paying some cancellation fees.
⭐ Is insurance cover provided on non-salary transfer loans?
A. Yes, you can avail insurance on non-salary transfer loans.
⭐ Is salary certificate mandatory?
A. Yes, salary certificate is a mandatory document for personal loans in UAE.
⭐ Do banks check credit score for non-salary transfer personal loans?
A. Yes, banks check the credit score before approving the loan application.
⭐ Do banks check DBR for non-salary transfer personal loans?
A. Yes, banks do check DBR which should be below 50%, for any kind of loans in UAE. Calculate your DBR using our Debt Burden Ratio Calculator
⭐ Do my company needs to be listed on the bank’s list?
A. Company listed with the bank criterion vary from each bank.
⭐ Is there any minimum work service required?
A. For a non-salary transfer personal loan, a minimum work service of 6 months is required.
⭐ Is partial payment facility available in this type of loan?
A. Yes, partial payment facility is provided on some partial payments charges which varies from each bank.
⭐ What are the additional benefits provided on personal loan without salary transfer?
A. Some banks provide a free debit card, credit card, cheque books, etc., on personal loan without salary transfer.
⭐ How do I know the monthly installments to be paid on the loan?
A. The monthly installments vary with the interest rate, loan amount borrowed, tenure and other factors. Use our Personal Loan Calculatorto calculate your monthly installments on loan.
⭐ Do we need to provide any collateral on non-salary transfer personal loan?
A. There is no collateral required on non-salary transfer personal loan.
⭐ What is the maximum tenure provided on the loan?
A. The maximum tenure provided on the personal loan without salary transfer is 48 months.
⭐ For how much amount the security cheque should be given?
A. A security cheque of loan amount approved should be given to the bank.