Here's How You Can Fulfil your Dreams with a Personal Loan

By PolicyBazaar
  | Published: 23 March 2021

Personal Loan up to 8 times your Salary

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Personal loans are unsecured credits meant to provide easy finance to customers for a variety of reasons. The best part about personal loans in UAE is that they are approved and issued almost instantly with minimum paper work in comparison to other forms of loan.

The eligibility criteria for getting personal loans in UAE is provider specific. Some of the providers issue personal loans at AED 3000 salaries while others have a minimum salary criteria of AED 4000.

Another common question is  - What is the maximum that can be issued against an AED 3000 salary. The answer to this question depends on a variety of factors. As mentioned earlier, the eligibility, loan amount, documents required, and processing time differ from one provider to another.

However, to answer your queries we’ve put together a list of banks that offer a personal loan in UAE at 3000 salaries with their maximum loan amount. We will try and cover all the personal loan providers that offer a personal loan in UAE at 3000 salaries along with their detailed structures and characteristics to give you a better idea.

Dubai Islamic Bank Al Islami Ijarah for Expatriates

First off on the list we have the Dubai Islamic Bank Al Islami Ijarah for expatriates in the UAE. Dubai Islamic bank commonly known as DIB is one of the most reliable financial institutions in the UAE that offers personal loans to both expatriates and UAE nationals.

The bank is known for its Shariah-compliant Islamic services that offer a wide variety of finance and insurance-related services. One of the services offered by Dubai Islamic Bank is personal loans for both expatriates and UAE nationals residing in the Emirates.

The DIB Al Islami Ijarah for expatriates is issued at a minimum salary of AED 3000 making it an effective option for people looking for personal loan at AED 3000 salary. The eligibility criteria and other details are as follows-

Minimum Salary

AED 3000

Salary Transfer

No

Maximum finance amount

AED 1,000,000

Arrangement Fee

AED 1000

Reducing/Flat Interest Rate

6%/11%

Early Settlement Fee

1%

 

The DIB Al Islami Ijarah for expatriates provides a maximum loan amount of up to AED 1,000,000 against a minimum salary of AED 3000.

Dubai Islamic Bank Al Islami Ijarah for UAE Nationals

The Dubai Islamic Bank offers personal loans at 3000 salaries for both expatriates as well as UAE nationals. This personal loan for DIB for UAE nationals can be used for a wide variety of purposes depending on the requirement of the user. Right from paying for furniture, travel, rent, marriage, and educational expenses personal loan.  

The DIB Al Islami Ijarah for UAE nationals is issued at a minimum salary of AED 3000 making it an effective option for people looking for a personal loan at AED 3000 salary. The eligibility criteria and other details are as follows-

Minimum Salary

AED 3000

Salary Transfer

No

Maximum finance amount

AED 2,000,000

Arrangement Fee

AED 1000

Reducing/Flat Interest Rate

6%/11%

Early Settlement Fee

1%

 

The DIB Al Islami Ijarah for expatriates provides a maximum loan amount up to AED 2,000,000 against a minimum salary of AED 3000.

RAKBANK Personal Loan

National Bank of Ras-Al-Khaimah PJSC commonly known as RAKBANK is a public joint-stock company that offers shariah-compliant financial services in the UAE for both expatriates and UAE nationals. RAKBANK offers personal loans to expatriates at effective interest rates making it one of the most popular financial institutions in the UAE.          

The RAKBANK personal loan is issued at a minimum salary requirement of AED 3000 with salary transfer. The eligibility criteria and other details of RAKBANK personal loan in UAE are as follows-

 

Minimum Salary

AED 3000

Salary Transfer

Yes

Maximum finance amount

AED 1,500,000

Arrangement Fee

1%

Reducing/Flat Interest Rate

3.3%/5.99%

Early Settlement Fee

1%

Interest rate and maximum loan amount are subject to change. Please refer to the provider’s website for confirmation.

Dubai Islamic Bank Al Islami Goods Finance for Expats

DIB is one of the premium financial institutions that provides personal loans to both expats and UAE nationals. The DIB Al Islami Goods finance for expats is a specialized personal designed for expats residing in the Emirates. The personal loan is issued at a minimum salary requirement of AED 3000 with a maximum loan amount equivalent to AED 2,000,000.

The eligibility criteria and other details of the DIB Al Islami Goods finance for expats in UAE are as follows-

Minimum Salary

AED 3000

Salary Transfer

No

Maximum finance amount

AED 2,000,000

Arrangement Fee

AED 1000

Reducing/Flat Interest Rate

6%/11%

Early Settlement Fee

1%

 

Benefits of Personal Loan in UAE

There are numerous benefits of opting for personal loan in the UAE, some of them are listed below -

  • Easy approval and disbursement
  • Less documentation
  • It’s unsecured
  • Can be used to fuel in finances in personal projects
  • Flexible repayment tenor

Conclusion

Personal loans in UAE are perfect tools for financing your immediate financial requirements. In order to find out the best financial institution that issues the best suited personal loan at 3000 make sure you compare different providers base on features and maximum loan amount to get the best deal.