Personal loan for Non-Listed Companies in UAE

Personal loan and Company being listed

One of the biggest reasons for the rejection of a personal loan in UAE is the applicant's company not being listed with the bank or the financial institution. With numerous small and big companies and a handful of financial institutions, it is possible that the company you are working for is not listed with any institution. Availing a personal loan in such a scenario can seem like an uphill task but there is help at hand.

What to do if your company is not listed?

Before you apply for a personal loan, try researching and finding out if your company is listed with any bank; your Human Resources department can help you with this information too. Even if your company is not listed with any financial institution, there is no reason to panic. Personal loan for non-listed companies is a concern most institutions have been trying to deal with too.

Most banks would want to see a proof of continuous income to consider your personal loan application if you are working with a non-listed company. Requesting your company to transfer your salary to the said bank can work to your advantage too. It is important to remember that there might be a limit on the amount of loan you can avail.

Which banks offer personal loans for non-listed companies?

Many banks are relaxing their lending rules and offering loans to employees of companies not listed with them. Let’s look at some of them:

Mashreq Personal Loan for Expats


  • A minimum salary of AED 10,000 is needed
  • Monthly loan installment should not exceed 50% of the monthly income
  • Salary transfer to Mashreq is required
  • Maximum loan amount of AED 1 Million is provided 
  • Tenure provided on the loan is 6 months - 48 months 
  • The applicant needs to have a minimum of 6 months length of service or "confirmed" letter from the employer 

Documents Required 

  • Valid Resident Visa
  • Valid Passport copy 
  • Emirates ID 
  • Latest 3 months bank statements 
  • Salary certificate or Salary transfer letter 

Click here for more details on Mashreq Personal Loan for Expats 

Mashreq New to UAE/ Employer Loan 


  • A minimum salary of AED 10,000 is needed 
  • Monthly loan installment should not exceed 50% of the monthly income
  • Salary transfer to Mashreq is required 
  • The maximum tenure of 48 months is provided 
  • Maximum finance of up to AED 150,000 is provided 

Documents Required

  • Valid passport 
  • Resident Visa for Expats 
  • Emirates ID 
  • Minimum 3 months bank statements 
  • Salary transfer letter 
  • Salary Certificate 

Click here for more details on Mashreq New to UAE/ Employer Loan 

With the launch of the credit scoring system in April 2017, more banks and financial institutions might start offering personal loans without considering the company you work for. You must keep in mind that the main reason behind creating a list of companies was to reduce the risk of lending. By keeping a healthy credit history and a good repayment record, if any, you can increase your chances of availing a personal loan regardless of the company you work for. Be wary of private lenders offering personal loans at exorbitant rates since they know that getting a loan for an employee of a non-listed company can be difficult. While most banks don’t stress on transferring the salary with them, it is better to do so as it establishes a relationship with the institution and helps securing higher amount of loans at relatively lower interest rates. Research well and talk to banks before you avail the loan.

What is the current situation in UAE regarding personal loan and company listing?

The credit scoring system launched by The Al Etihad Credit Bureau helps banks and financial institutions minimize the risk exposure during their lending activities. Before the launch of this system, banks would receive basic credit information about consumers applying for loans making credit decisions difficult. As a practice, banks started looking the company the applicants were working in to understand the stability of income of the prospective borrower. This was based on their observation that people working with stable organizations had a good credit and repayment history. Soon they developed a list of companies which they thought were stable and preferred lending to employees of these companies.

While every bank and financial institution developed its own set of criteria to list a company, they all looked into the number of years in business and financial records. This became the primary eligibility criteria for personal loans across financial institutions in UAE.

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