Best Personal Loans with High Amounts and Low EMIs

By Kapil Dwibedi
  | Published: 11 February 2021 | Last Updated On: 19 February 2021

Personal Loan up to 8 times your Salary

Average Rating / 5 (ratings ) | 287 Views

Get personal loan at lowest interest rate

Cancel
Cancel
By Clicking on "View Quotes", I declare that I am a resident of UAE and holding a valid Visa and agree to the website Privacy Policy and Terms of Use.

A personal loan refers to an unsecured loan, which means it involves no guarantor or collateral for obtaining it. A personal loan is obtained by a person for meeting his or her different financial needs like education, international travel, wedding, starting a business, and for debt consolidation also.

Usually, the lenders allow you to borrow up to 20 times of your monthly income for a maximum repayment period of 48 months or 4 years. However, this may vary from one lender to another. The loan amount, personal loan interest rate, and EMI are decided on the basis of the following factors- income source, age, the status of employment, credit history, and more.

Many banks in the UAE offer high personal loan amounts at low EMIs. Some of them are mentioned below.

Dubai Islamic Bank Personal Loan

DIB personal loan is available for both- expats and UAE Nationals for meeting their various personal requirements during their need. The amount of loan can be obtained at an attractive rate of interest (profit rate) of 11-21.99% yearly.

With the repayment tenure of up to 48 months, the DIB personal loan applicants can apply for an attractive amount of AED four million for UAE Nationals and AED two million for expats based on the eligibility requirements of the bank.

The personal loan is offered to both non-salary transfer and salary transfer category with the applicant earning a minimum salary of AED 3,000.

First Abu Dhabi Bank Personal Loan

The low personal loan interest rate and high loan amounts make FAB personal loans popular in the UAE. The applicants can easily apply for this loan through the online portal of the bank which includes minimal paperwork. The rate of interest starts from 3.99% per annum (reducing rate) & 4.99% per annum (fixed rate) throughout the two categories- personal loans for the UAE Nationals & expats.

You can opt for a loan amount of up to AED five million for the UAE Nationals and AED 2 million for expats with a maximum repayment period of 48 months. The bank does not make it compulsory for the applicants to transfer their salary.

ADIB Personal Loan

ADIB or Abu Dhabi Islamic Bank is an Islamic financial institution, which offers Shariah-compliant financial products as well as services to the people in the UAE. ADIB personal is one of the best examples of a Shariah-compliant personal loan, which helps in meeting the main financial requirements of the borrowers without having to submit collateral or guarantee for obtaining the loan.

This loan is also available in two categories- ADIB personal loans for UAE Nationals and expats. ADIB personal loan interest rate starts from 6.75% to 20% (reducing rate). You must be earning a minimum income of AED 8,000 to be able to avail this loan.

The maximum loan amount available to the applicants is AED three million for the UAE Nationals and AED one million for the expats. You can enjoy a flexible repayment tenure on the loan, which can last up to 48 months.

ADCB Personal Loan

This is amongst the most rewarding loans in the UAE with benefits like ADCB rewards program membership. It is also available in two categories- personal loan for expats and for UAE Nationals. You can avail a loan amount of up to 20 times your salary.

Additionally, the personal loan interest rate is pretty low and starts from 5.25% for expats and 6.25% for the UAE Nationals, making this loan one of the popular financial products in the UAE.

You can enjoy a flexible repayment period of up to 48 months for clearing your debts. For obtaining this loan you must be earning a minimum income of AED 5,000 per month and the salary transfer to the bank is mandatory.

ADCB personal loan offers various benefits to the borrowers, one of them is Touchpoints. You can redeem these touchpoints for shopping vouchers throughout various malls in the Emirates and for your lifestyle needs like massage and spa treatments. On the basis of your loan amount, you can earn the following touchpoints.

  • When the loan amount is above AED 150,000, the touchpoints earned is 300 against each AED 1,000 of the loan amount.
  • When the loan amount is below AED 150,000, the touchpoints earned is 200 against each AED 1,000 of the loan amount.

Mashreq Bank Personal Loan

This loan is also amongst the popular personal loan products in the UAE. The personal loan interest rate starts from 5.99% to 31.99% (reducing) making it affordable for the borrowers. Mashreq Bank Personal Loan is also available to both the categories- UAE Nationals and expats. The UAE Nationals can get the maximum loan amount of up to AED three million and the expats can get the maximum loan amount of up to AED one million.

You can enjoy a flexible repayment tenure of a maximum of 48 months to pay off this loan. For obtaining this loan, you need to transfer your salary to the bank. You can also enjoy various other benefits on this loan such as a complimentary credit card and personalized checkbook, phone banking, top-up loans, up to 2 loan deferments, and a grace period of up to 3 months.

In this article, we have discussed some of the top personal loans in the UAE that offer high loan amounts at low EMIs to the borrowers. However, your options do not end here. You can compare different available options online and settle for the one that suits your needs and preferences the best.