Have a Bad Credit? Here’s How You Can Still Get a Personal Loan in the UAE!

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

Get personal loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

These days, you can make use of the personal loan in UAE for making payment of almost everything that you require, provided you get approved for one.

From consolidating your credit card debts and funding for your vacation to payment of educational fees and paying medical bills, a personal loan lets you get access to cash whenever you need it the most.

Generally, you do not require collateral such as a car or a house for getting personal finance, as it is usually unsecured. This type of loan is structured as an instalment loan. This means you will have to make repayment of the borrowed amount along with the personal loan interest rate. This repayment has to be made within the loan tenure as determined by the bank, with the agreed number of monthly instalments.


If you, unfortunately, have a bad credit score, you may have only a limited choice of personal loans because banks and financial institutions require a minimum credit score for Personal loan in UAE and you may also have to bear higher rates of interest. Hence, even if you end up qualifying for a personal loan, it might get expensive for you to make the repayment. 

Apply best personal loan to get rid of financial problems

Is the Credit Score Sufficient to Qualify for Personal Loan?

Most people apply for a personal loan to meet their several financial needs. But there is no guarantee of approving your personal loan application by the respective lenders. Majority of the loan applications gets rejected due to poor credit score because lenders don’t offer personal loan for bad credit in UAE.

All the banks and financial institutions whether big or small will review your credit score when you apply for a personal loan. There are chances you have multiple scores, which may differ for various reasons. Here are some of these reasons. 

  1. Different companies use separate scoring
  2. The companies for credit reporting might not have the same information about
  3. Different companies might be generating your credit score at different times. This could lead to the availability of different

Having low or mid-range credit scores could make it hard for you to get your personal loan application approved from large banks and several other traditional lenders as they do not offer loans for bad credit.

In case you have a little to zero credit history, you might not have any credit score. Or in case there is negative information on your credit report, your credit score might go very low to qualify.

Making late payments of your credit card bills, civil judgements not being in favour of you, and maxing out the credit cards can lead to a reduction in your credit scores.

However, this does not mean you cannot obtain a personal finance. You can still get a personal loan which is offered by the various private money lenders for bad credit in UAE. Though these loans will come with high rates of interest.

In such a situation, you must be more careful regarding the moneylender you are borrowing from if you don’t want to obtain a loan, which adds up to your financial burdens. 

AECB Credit Score in UAE

Best Places to Get a Personal Loan with Bad Credit in UAE

Traditionally, personal loans can be obtained from various financial institutions, some of which are the following. 

  • Credit Unions
  • Banks
  • Online Lenders 

All the banks in the UAE have strict standards for lending. Credit unions may comparatively have less strict requirements in terms of eligibility. Some credit unions may agree on offering your personal loan without a credit check in UAE. Regardless of your low credit rating.

Some credit unions also have special programs for borrowers with not-so-good credit histories. If you have a poor credit rating, then credit unions might offer you a personal loan without credit bureau Dubai. However, these loans come with more favourable conditions.

You can also obtain a personal loan from an online lender. A few online lenders have requirements for loan qualification and loan terms like the traditional banks. Others provide loans at high rates of interest, which usually does not need you to have excellent credit scores and offer quick cash loan with no credit check in Dubai. These lenders might, however, have other requirements and might check your employment history or bank account.


Few personal loans offered by private money lenders in Dubai for bad credit, levy high rates of interest. This makes the repayment of loan more difficult. But, this does not imply that you need to avoid going to online lenders. You just need to ensure that you understand the personal loan you are planning to apply for.

Compare and apply personal loan from best providers

List of Top 5 Money Lenders that Offer Personal Loan with Bad Credit Score in UAE

There are various banks and financial institutions that offer personal loans no credit check UAE and some of the best money lender to get personal loan with low credit score are as follows:

Personal Loan Provider Flat Interest Rate Reducing Interest Rate Minimum Salary Required Salary Transfer

RAKBANK personal loan



AED 5000


ADCB Personal Loan



AED 5000


CBD Personal Loan



AED 8000


Noor Bank Personal Loan



AED 8000


Deem Finance Personal Loan



AED 5000

Not Mandatory

**All the aforementioned are some of the top no credit check loans in Dubai as well as in the UAE. 

Click here to Apply for Personal loan without credit check UAE

Compare and apply best personal loan

How to Compare the Loan Terms?

If you have poor credit score, the loan you have qualified for must be costing you more, as lenders may consider you at higher credit risk. Since a personal loan is more expensive in this situation, it becomes more essential for you to compare the terms of various loans for finding the best deal.

For comparing the loan offers, here are some of the basic terms you need to keep in mind. 

APR (Annual Percentage Rate)

APR refers to the total cost you pay every year for borrowing the funds, including the fees and interest. Low APR means the cost of the loan will be less. If you have bad credit, you are likely to have a high APR.

Loan Repayment Tenure

The duration for the repayment of the loan refers to the time period in which you will have to make the complete repayment of the amount borrowed. In case almost every personal loan, you need to make fixed payments monthly for a determined period of time. The longer is the duration for repayment, the higher would be the personal loan interest rate that you will have to bear. Hence, making the loan costlier for you.

Monthly Payments

Your monthly installments or payments are majorly determined by the amount of funds borrowed, your loan duration, and your rate of interest. You need to ensure that these monthly payments are affordable for you.

Loan Amount (Minimum & Maximum)

The lenders generally determine the minimum & maximum amount they are ready to lend. The loan provider who does not lend you enough money or the one that needs you to borrow more than you require, would not prove to be suitable for you.

You must also consider the reputation of the lender, especially when you are borrowing from a lender who specifically offers personal loan without credit check in UAE. 

Before Apply Personal Loan. Check Your Loan EMI at Personal Loan EMI Calculator

Should you opt for a Personal Loan if Your Credit Score is Poor?

For somebody with poor credit, getting a personal loan approved can be expensive and challenging. However, borrowing can make sense in some situations.

The Question of the Hour is: 

If such a loan will be helpful for you in the long run or not. This depends upon the loan amount and the loan terms. It will also include the fact that what would you use the personal loan in UAE for.

Here are a few cases where your personal loan could be helpful if you have bad credit. 

Credit Card Debt with High Interest

If you are stuck with debt on your credit card or any other loan that too with a high rate of interest, you can take a personal loan for making repayment of your loan and credit card with debt consolidation option. If your personal loan helps you in reducing the interest amount you pay on the debt, it may help you saving money in the long term. Moreover, it can also let you consolidate multiple payments through various credit card providers into a single payment to a lender.

Unforeseen Expenses

In case you have any unforeseen expenses, personal finance can be a less expensive option for borrowing in comparison to credit cards.

In every case, the borrowing cost can help you in determining if a personal loan makes sense or not. If you qualify only for the personal loan with a high rate of interest, consolidating would not prove to be worthy.

Other terms of the loan can also impact your decision. For instance, there are various lenders that have a minimum loan amount. With these lenders, you can only borrow a small amount of loan. 

What Should You Do If You Get Rejected for a Personal Loan?

If your personal loan application gets rejected due to poor credit, you can go for these two options. 

Search for Other Alternatives of Borrowing

If a bank has rejected your application, you can try applying for a personal loan with a credit union or an online lender as there are many private money lenders in UAE 2022 for bad credit in. They might approve your loan request. Or even if you are getting qualified for a credit card, go for a credit card with low promotional rates.

Opt for a Cash Loan in UAE

Yet another great option to meet your financial expenses is Cash Loan. But, you must be wondering what is cash loan in UAE?

A cash loan is a type of personal loan which is recieved by the borrower in cash. It also requires minimal documenation and the approval process is quite fast. There are many private money lenders in UAE who offer cash loan for also those individuals who have a bad credit.

Urgent Cash Loan in Dubai

Improving the Credit

Your credit scores can increase with time if you keep making at least the minimum payments on the monthly bills on time. This will create a positive history of payment, and pay off the debts such that there is an improvement in your credit utilization rate. You must also check for errors on your credit report. An error on your credit report can affect your credit score.

By researching your options properly, you will be able to make a smart financial decision- look for the best personal loan available or wait to obtain a loan until there is an improvement in the credit so that you can get the one with better terms.

The Closing Thoughts!

Maintaining a good credit score for qualifying for a favorable condition on your loan takes both patience and time. If you have poor credit scores and you are in need of a loan urgently, the best option you have is approaching an online lender or credit union that offers quick cash loan with no credit check in Dubai and UAE.


Ensure that you compare the terms and rates of the loan carefully in order to look for the most affordable lender who is ready to offer the loan without checking credit bureau to you. Also remember, if you are unable to look for an affordable option, which you can repay easily, it is better to wait and try to improve your credit score.

FAQs on Private Money Lenders in Dubai

Q.1. What is cash loan in UAE?

Ans. A cash loan is a type of personal loan that is offered by banks or private money lenders in the UAE to borrowers in the form of cash. The borrowers can opt for quick cash loan to satisfy their day to day as well as emergency financial requirements.

Q.2 How to apply for cash loan easily?

Ans. One of the easiest ways to apply for quick cash loans is online. You can visit the official website of the bank or lender and then apply for it directly from there.

Q.3. Can I avail myself a quick personal loan in UAE even If I have bad credit?

Ans. Yes, there are many banks and financial institutions that offer quick personal loans in UAE even for those individuals who have bad credit.

Q.4. What is the repayment tenure for a personal loan in UAE?

Ans. The majority of the banks and private money lenders in UAE enable borrowers to select a loan tenure between 12 months to 60 months based on their convenience.

Q.5. Do I need to submit any collateral or security to avail cash loan in UAE?

Ans. No, you do not have to submit any collateral or security for availing of cash loans since it is an unsecured loan.

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