Personal Loan for AED 3000 salary in UAE
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Thank you for providing your details.List of Personal Loans with salary of AED 3000
Advantages
- Finance is based on Sharia principles
- Quick processing
- High loan amount
Overview
- Can settle existing debts
- Only expats are eligible
- Salary transfer is mandatory
Overview
- Can settle existing debts
- Only expats are eligible
- Salary transfer is mandatory
- Can get finance based on sharia principles
- Interest rates are based on the applicant’s profile
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
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
Advantages
- High finance is provided
- Quick processing of loan
- Low salary requirement
Overview
- Quick processing of a loan
- Provides loan on low salary requirement
- Can avail payment holiday benefit
Overview
- Quick processing of a loan
- Provides loan on low salary requirement
- Can avail payment holiday benefit
- Applicant’s company must be listed with the bank
- Salary transfer is mandatory
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
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
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
Features
- The repayment period is up to 4 years
- Can combine multiple finances into one
- Interest rate starts at 7%
Features
- The repayment period is up to 4 years
- Can combine multiple finances into one
- Interest rate starts at 7%
- Minimum salary of AED 3000 is required
- Early settlement fee is 1% of outstanding finance amount
- Arrangement fee is 1.05% of the finance amount
Benefits
- Finance is provided to consolidate existing loans
- Additional finance is provided after consolidating the loans
- Repayment period is long
- High loan amount is provided
- Can pay the first instalment upto 120 days
- Processing is quick
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
Eligibility
Like documents, eligibility for a personal loan in UAE may vary from bank to bank too. The basic eligibility criteria are,
| Eligibility | UAE Nationals | Expats |
| Age | 21-60 | 21-65 |
| Minimum Salary | AED 3000 | AED 3000 |
| Salary Transfer | Required (Depends upon the bank) | Required (Depends upon the bank) |
| Company Listed | Required (Depends upon the bank) | Required (Depends upon the bank) |
FAQs
⭐ 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.
⭐ 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.