Personal Loan up to 8 times your Salary
Get personal loan at Lowest Interest Rate
You can consider a personal finance.
Now, if you are looking for this loan, you should make sure that you are capable enough to repay the amount of funds you borrow.
You can also save your hard-earned money by clearing off your loan as soon as possible, only if you can afford to. Hence, you must accordingly plan things.
Getting the best deals with the lowest interest rate on personal loan is not as easy as it sounds. You need to shop around to settle for the most suitable deal. Moreover, the interest rate is not the only thing that has to be considered.
The banks also charge processing fee amongst other fees and charges, which can add up to your loan expenses.
But, first of all, a huge choice that you have to make is from where to obtain your personal finance.
We have rounded up a list of reputable and trusted loan providers so that you can avail the best rates and deals possible.
|Personal Loan||Processing Fee|
|RAKBANK||1 percent of the loan amount (min 500, max 2,500 dirhams)|
|Emirates NBD||1 percent of the loan amount (min 500, max 2,500 dirhams)|
|Emirates Islamic||0.75 percent (for certificates Murabaha) and 1 percent (for shares/goods/services ijarah) of the finance amount (min 500, max 2,500 dirhams)|
|United Arab Bank||1 percent of the finance amount (min 500, max 2,500 dirhams)|
|CBD||1 percent of the loan amount (min 500, max 2,500 dirhams)|
|Standard Chartered Bank||1.05 percent of the loan amount (min 525, max 2,625 dirhams)|
Let us now discuss these loans in detail.
This personal loan in UAE is a suitable choice for the ones who are looking for a large loan as they offer high loan amount. The effective rate of interest starting from 5.99 percent helps you in saving money on your loan repayment.
Following is the summary of the features.
This loan is amongst the best options in the market for the ones who need high finance in the UAE. The effective reducing rate of interest starts from 6.99 percent per annum.
The high loan amount allows you to meet your financial needs. The Citibank charges no processing fee on their personal finance.
Following is the summary of the features of this loan.
The expats in the UAE can apply for the loan through the Emirates NBD, which provides loans with minimum income as low as 6000 dirhams.
It charges a low rate of interest starting from 4.99 percent (reducing), and can be availed through an easy process of application, which can be completed online too. The low rates on this personal loan in UAE make it attractive for the applicants belonging to various economic segments.
Following is the summary of the features of Emirates NBD Personal Loan.
Emirates Islamic Bank follows the Islamic laws of banking. It offers personal finance to the people in the UAE at low-profit rates starting from 5 percent (reducing).
This bank offers high finance amount for both UAE Nationals and expats. With low rates, easy documentation, and high finance limits, this personal finance attracts a lot of applicants in the Emirates.
Following is the summary of the features of Emirates Islamic Personal Loan.
In case you do not fall under the salary bracket of 8,000 dirhams and above, the UAB Personal Loan can be a good option for you. This loan can be availed at a low rate of interest starting from 5.25 percent (reducing).
UAB offers high loan amounts and convenient and flexible tenure for repayment. You need to have a minimum salary of 7,500 dirhams to apply for the loan.
Following is the summary of the features of United Arab Bank Personal Finance.
CBD lets you borrow funds at a competitive rate of interest starting from 5.50 percent (reducing). The bank offers a loan in consideration of the financial requirements of the residents in the Emirates.
From travel expenses to home renovations to educational fees, and much more, this loan lets you avail instant funding during your financial crunch.
Following is the summary of the features of Commercial Bank of Dubai Personal Finance.
When you are in dire need of a fast source of money, Standard Chartered personal loan can be a suitable option for you. The bank offers fast approval on your personal loan application.
You must have a minimum monthly income of 30,000 dirhams to avail this loan. You can obtain this loan through a convenient and easy process of application.
Following is the summary of the features of Standard Chartered Personal Loan.
The Bottom Line!
The above-mentioned list of loans contains some of the top loans available in the market of UAE that charge low processing fees. With the lowest interest rate on personal loan, they are easy to avail and coming with a host of features and benefits.
However, you must keep in mind that this list of personal finance is not ranked in any particular order. The one which is best for you may not be a very good option for someone else.
Go through the details of the loan thoroughly before selecting one. Choose carefully!