Personal Loan for AED 3000 salary in UAE

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Minimum Salary

Interest Rate

Loan Amount

Reducing Rate

Personal loan with minimum salary AED 3000

Banks in UAE are pessimistic about providing personal loan with low minimum monthly salary. However, due to the increase in demand and in order to meet that, few banks do offer personal loan in UAE with minimum monthly salary AED 3000. But there are many things that you would need to have knowledge about if you are applying for a personal loan with less salary as the risk assessment procedure is bigger.

Documents required

This may vary from bank to bank or circumstances.

  • Loan application form – completed and duly signed.
  • Some identity documents like Passport, a copy of the VISA, Emirates ID, etc.
  • For Expatriates – Valid Passport with a valid UAE residence Visa.
  • Salary certificate and/or salary transfer letter
  • Statement(s) of your bank account(s)
  • For self-employed individuals – Trade License


Like documents, this may vary from bank to bank too:

  • You must be at least 21 years of age.
  • You must be currently employed and working for around one-to-six months minimum (varies from bank to bank)
  • Minimum salary must be AED 3,000 or more.
  • Usually, you are required to transfer your salary to the bank from which you are availing the Personal Loan.
  • You must pay back the loan before you turn 65 years (for expatriates) and 60 years (for UAE Nationals).


Is it possible for me to acquire if I am an Expat with monthly salary AED 3000?

A. Yes, it is available for both UAE Nationals and Expats.

What are the interest rates that would get charged on these loans?

A. The interest rate would differ from bank to bank but expect a higher rate as the salary required is less.The flat interest rate normally ranges from 2-11% whereas the reducing rate varies between 4.9-19%.

How much loan amount can I avail of this salary range ?

A. The loan amount depends proportionately on the salary range, you would not be able to avail high finance amount. But if banks do sanction a high amount than the interest rates charged would be higher.

Which banks are ideal for this salary range?

A.There are few banks that are offering personal loan at this salary, among them the following are the ideal ones
Dubai Islamic BankDubai Islamic Bank offers a wide variety of products for you to choose from. Some of the unique features include Upfront cash payment to the customer, Dedicated relationship manager for guidance at every step and such.
RAKBANKAlong with the personal finance offered at a low salary, it also offers free RAKBANK credit card with no annual fee ever and free life insurance up to the value.

Is salary transfer necessary?

A. Banks would usually prefer you have an account in their branch where your salary is transferred. This helps them to offset the risk involved in an unsecured form of finance. It also gives them the security and keeps a track of your income.

Are there any banks which do not require a salary transfer?

A. Dubai Islamic Bank Personal Finance may provide more competitive rates and flexibility if you transfer your salary however it is not mandatory. Even if the company you work for is listed then the bank may waive the requirement.

Is company listing necessary?

A. It is not mandatory for the company you are working to be listed on the approved list of companies. But if it is listed, then it would fasten your process and increase your probability of approval.

How is the interest rate determined by the banks?

A. There are various factors that are considered while determining the interest rate, one of which is the salary. If your salary is low the interest rate charged would be higher as the risk is high

Do I need to provide my salary certificate?

A. Yes, they would mostly require your salary certificate. This is asked by the bank during your application processing stage to understand your salary breakdown. They would also want your designation at the company and your position to safeguard themselves from any fraud.

Is insurance required for these loans?

A. It is at bank's discretion, but most probably insurance would be required to offset the risk and we would advise you to take it too.

What are the other personal loan options available?

A. Check here for banks that offer personal loans in Dubai.

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