Applying for a Personal Loan In UAE Without a Salary Transfer

Personal Loan up to 8 times your Salary

Personal Loan in UAE
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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A personal loan is a short-term finance that is procured to meet various kinds of financial requirements or emergencies. That is why, consumer finances are also known as multi-purpose loans since there is no limitation on the use of the loan amount. It is the unsecured type of loan as the bank or financial institutions don’t ask for guarantor or collateral. This is the main reasons why lender charge a high rate of interest on consumer loans when compared to other finances.

Moreover, consumer finance comes with instant approval and it gets disbursed within just 24 hours. All you need to meet the minimum eligibility requirements and submit the basic requirements to procure PL. The eligibility requirement for consumer finance in the United Arab Emirates includes a plethora of things &‘salary transfer is one of the most important factors among all.  A lot of lenders make it compulsory for the applicant to transfer their salary into the bank account to be eligible for consumer finance. They ask for salary transfer letter to check the loan repayment ability of the applicant.

So, what does it mean that people who get their salary through cheque or cash can’t opt for consumer finance?

Thankfully, this is not the case with all the lenders. Yes, you read it right. There are a lot of lenders that sanction personal loan in UAE without a salary transfer to UAE nationals as well as expats considering the basic need of its potential customers.  

Eligibility Requirements

In order to get a personal loan in UAE without a salary transfer, you need to meet the minimum eligibility requirements. However, it may vary from one bank to another. Well, there are some common eligibility requirements that you need to meet for improving your chances of loan approval and they are as follows:

Age of the applicant

Age is one of the most important factors that lender consider before offering you consumer finance. Based on your age, lenders check your capability of repaying the loan amount. The younger you are, the higher are the chances of approving your PL application.

Well, most of the lenders share common age criteria for consumer loan. Usually, the age limit is between 21 years to 60 years. However, the maximum age limit for the UAE nationals could be as high as 65 years.

Minimum Monthly Income

Based on your monthly salary, bank or financial institutions determine your loan repayment ability whether you will be able to repay your loan EMI on time without any default. Generally, the majority of the lenders have already set their some specific minimum income criteria to be eligible for a personal loan in UAE without a salary transfer. Also, note that the minimum income requirement for self-employment and salaried individual differs. So, make sure you check the minimum income requirement before applying for non-transfer salary PL.

Credit Score

Your financial track records really matter a lot. Lenders check your credit score before offering you PL to know your creditworthiness. If you have a poor payment record then chances of your loan application rejection are higher. On the other hand, if you have paid your credit card bills or any other existing loans on time then it increases the chances of your loan approval. Be sure, you pay all of your bills on the right time to maintain a good credit Score.

Work Experience

A borrower should have work experience of at least 1-2 years in the current organization. Through your total work experience, lenders determine your job stability which is one of the most factors to be eligible for PL.


Lenders offer consumer finance to salaried individuals working in a government, private, or MNC companies as well as self-employed individuals. Well, salaried professionals working with a well-known and reputed employer have high chances of availing PL as they are preferred by the lenders due to their job stability.

Required Documents for Personal Loan in UAE without A Salary Transfer

Along with a duly filled & signed consumer finance application form, an applicant needs to submit the following documents:

  • Resident Visa
  • Passport
  • Emirates ID
  • Updated security cheque in favor of the bank
  • Residential proof such as utility bills, electricity bills, etc.
  • Bank statement of last 3-6 months

In a Nutshell

So, all the above-mentioned things are required for availing a personal loan in UAE without a salary transfer. Apart from meeting minimum eligibility requirements, be sure you maintain a good credit score as this is amongst the one important things then lenders take consider to verify your creditworthiness.

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