Personal Loan for AED 3000 salary in UAE

Flat Rate

6%

Minimum Salary

AED 3000

Reducing Rate

11%

Max Loan Amount

AED 4000000

Early Settlement Fee

1%

flat-rate

6%

Flat Rate

minimum-salary

AED 3000

Minimum Salary

11%

Reducing Rate

loan-amount

AED 4000000

Max Loan Amount

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
Apply Now

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
Hide Explore

View details on bank page

Flat Rate

6%

Minimum Salary

AED 3000

Reducing Rate

11%

Max Loan Amount

AED 2000000

Early Settlement Fee

1%

flat-rate

6%

Flat Rate

minimum-salary

AED 3000

Minimum Salary

11%

Reducing Rate

loan-amount

AED 2000000

Max Loan Amount

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
Apply Now

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
Hide Explore

View details on bank page

Flat Rate

6%

Minimum Salary

AED 3000

Reducing Rate

11%

Max Loan Amount

AED 4000000

Early Settlement Fee

1%

flat-rate

6%

Flat Rate

minimum-salary

AED 3000

Minimum Salary

11%

Reducing Rate

loan-amount

AED 4000000

Max Loan Amount

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
Apply Now

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
Hide Explore

View details on bank page

Flat Rate

6%

Minimum Salary

AED 3000

Reducing Rate

11%

Max Loan Amount

AED 2000000

Early Settlement Fee

1%

flat-rate

6%

Flat Rate

minimum-salary

AED 3000

Minimum Salary

11%

Reducing Rate

loan-amount

AED 2000000

Max Loan Amount

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
Apply Now

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
Hide Explore

View details on bank page

Flat Rate

6%

Minimum Salary

AED 3000

Reducing Rate

11%

Max Loan Amount

AED 4000000

Early Settlement Fee

1%

flat-rate

6%

Flat Rate

minimum-salary

AED 3000

Minimum Salary

11%

Reducing Rate

loan-amount

AED 4000000

Max Loan Amount

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
Apply Now

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
Hide Explore

View details on bank page

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 NationalsExpats
Age21-6021-65
Minimum SalaryAED 3000AED 3000
Salary TransferRequired (Depends upon the bank)Required (Depends upon the bank)
Company ListedRequired (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.

Ask questions and share your comments

We encourage our users to have discussion on questions they might have on financial products and help other users by sharing their insights. Kindly help us in making this site useful. We don't encourage any spam posts here. This is a public forum, so we request you to be safe by not disclosing personal information such as bank account or phone numbers etc. Please follow our posting guidelines.The comments will be reviewed and answered by MyMoneySouq.

Show/Post Comments