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Personal Loan for Non-Listed Companies

Personal Loan up to 8 times your Salary

Average Rating / 5 (ratings )

With new organizations being formed rapidly, the list of companies maintained by the financial institutions slowly grows redundant. personal loan in uae without company listingMany personal loan applicants have faced rejection for this very reason. However, the financial organizations have now taken steps to offers personal loans in the UAE without a company listing.

These loans offer up to AED 5 million to the applicants for a flexible repayment tenure of 4 years usually. You must be earning a monthly income of at least AED 5,000 to avail one of the personal loan for non-listed company in UAE.

Interest Rates for Personal Loans without a Company Listing

Personal loan interest rates in the UAE may be charged in one of two types- as a flat interest or as a reducing interest.

  • Flat Interest- A flat interest for personal loans in the UAE without a company listing is one that remains the same throughout the loan’s tenor and for Personal Loans without a Company Listing it range from 5% to 18%
  • Reducing Interest- Reducing interest is regarded as the best personal loan interest rate in the UAE, as it decreases every time the loan borrower makes a payment  and for Personal Loans without a Company Listing reducing interest rate range from 5% to 12%

Note that personal loan interest rates are usually higher for personal loan for non-listed company employees. 

Top Banks Providing Personal Loan for Non-Listed Companies in UAE

Here is a list of banks that offer a personal loan in UAE without a company listing.

Personal Loan in UAE for non-listed Companies

Loan Amount (AED)

Rate of Interest

Tenure

 

ADCB Personal Loan for UAE Nationals

20 times the salary

Starting from 5%

48 months

Emirates NBD Personal Cash Loan

AED 500,000

8.99% (reducing)

48 months

Emirates NBD Self-Employed Personal Loan for Professionals

300,000

18.99%

48 months

FAB Islamic Personal Finance

AED 5,000,000

4.99% (reducing)

-

Mashreq Bank Personal Loan for Expats

AED 1,000,000

6.49% (reducing)

48 months

Mashreq Bank Employer/New to UAE Loan

AED 150,000

5.99% (reducing)

48 months

Note: The information mentioned in the above table is subject to changes as per the discretion of the bank.

1. ADCB Personal Loan for UAE Nationals

ADCB Personal loan non-listed company offers attractive rates of interest, higher multiples of salary as loan amount, flexible loan tenure, and simple eligibility requirements for the UAE Nationals applying for this loan. It is one of the personal loan in UAE 5000 salary non listed company.

Minimum Salary Required: AED 5,000

Maximum Tenure: 4 years

Rate of Interest: 5 %

Maximum Loan Amount: 20x salary

Early Settlement Charge: 1.05% of outstanding

Processing Charge: 1.05% of the loan amount

Features of this ADCB Personal Loan

  • High loan amount of up to 20 times of the salary
  • Facility of loan consolidation
  • Competitive rates of interest
  • Credit life insurance
  • Easy documentation and approval
  • Up to three times salary overdraft
  • Up to 300 TouchPoints for each AED 1,000
  • Coverage for involuntary employment loss
  • Complimentary ADCB credit card

Eligibility Requirements

  • Salary transfer
  • Minimum salary required- AED 5,000

2. Emirates NBD Personal Cash Loan

Emirates NBD aims at offering financial assistance to all those who need it. The applicants working in a non-listed companies are also eligible to apply for this personal cash loan offered by the bank.

Minimum Salary Required: AED 10,000

Maximum Tenure: 4 years

Rate of Interest: 8.99 % (reducing)

Maximum Loan Amount: AED 500,000

Early Settlement Charge: 1% of outstanding

Processing Charge: 1% of the loan amount

Features of this Emirates NBD Personal Loan

  • High loan amount of up to AED 500,000
  • About 560 ATMs available across the UAE
  • Easy documentation and approval
  • Flexible and long repayment tenure
  • Available for both UAE Nationals and expats
  • Double insurance cover
  • Facility of 7-day loan return

Eligibility Requirements

  • Minimum salary required- AED 10,000 (for those having existing auto loan or credit card with Emirates NBD) and AED 12,000 (for other bank account holders)
  • Up to six salary credits within six months long service with the present employer
  • Banking relationship of up to 12 months

3. Emirates NBD Self-Employed Personal Loan

The qualified professionals can apply for these tailor-made loans. Emirates NBD recognizes their value in society, hence, it is very easy for them to obtain this personal loan.

Minimum Salary Required: AED 20,000

Maximum Tenure: 4 years

Rate of Interest: 18.99%

Maximum Loan Amount: AED 300,000

Early Settlement Charge: 1% of outstanding

Processing Charge: 1% of the loan amount

Features of this Emirates NBD Personal Loan

  • High loan amount of up to AED 300,000
  • Above 560 ATMs available across the world
  • Flexible and long repayment tenure
  • Easy documentation
  • Salary transfer is not compulsory
  • Self-employed professionals like accountants, architects, doctors, engineers, and more are eligible for the loan
  • Borrowers can miss a maximum of 2 consecutive installments in one year
  • Complimentary debit card & bank account
  • Option for 7-days loan return
  • Double insurance cover to the borrower

Eligibility Requirements

  • Minimum duration of business- 1 year
  • Minimum salary required- AED 20,000

4. FAB Islamic Personal Finance

Emirates NBD aims at offering financial assistance to all those who need it. The applicants working in a non-listed companies are also eligible to apply for this personal cash loan offered by the bank.

Minimum Salary Required: AED 10,000

Minimum Age: 21 years

Rate of Interest: 4.99 % (reducing)

Maximum Loan Amount: AED 5,000,000

Early Settlement Charge: 1.05% of outstanding

Processing Charge: 1.05% of the loan amount

Features of this FAB Islamic Personal Finance

  • High loan amount of up to AED 5,000,000 for UAE Nationals and AED 2,000,000 for expats
  • Grace period of 90 days up to the payment of first installment
  • Easy and minimum paperwork
  • Quick approvals
  • Comprehensive personal life insurance cover

Eligibility Requirements

  • Employer must be a reputed private company, government, semi-governmental
  • Minimum salary required- AED 10,000
  • Minimum age of the applicant- 21 years

5. Mashreq Bank Personal Loan for Expats

This Mashreq bank loan non-listed companies fulfills the borrowing needs of the salaried expats employed in the Emirates. Mashreq bank aspires to offer their customers a personal loan within a day.

Minimum Salary Required: AED 10,000

Maximum Tenure: 4 years

Rate of Interest: 6.49 % (reducing)

Maximum Loan Amount: AED 1,000,000

Early Settlement Charge: 1% of outstanding

Processing Charge: 1% of the loan amount

Features of this ADCB Personal Loan

  • High loan amount- 20 times of the salary up to AED 1,000,000
  • Competitive rates of interest
  • Easy documentation and quick approval
  • Complimentary Mashreq bank credit card
  • First EMI deferral duration up to 90 days
  • Flexible repayment tenure of up to 4 years (5 years/60months for the employees of Ministry of Defence)
  • 0 balance current account for loans above AED 25,000 with a debit card and cheque book
  • Access to a huge branch and ATM network

Eligibility Requirements

  • Salary transfer
  • Minimum salary required- AED 10,000 (for non-listed company employees) and AED 7,000 (for listed company employees)
  • Up to 6 months confirmed employment with the current employer

6. Mashreq Bank Employer/New to UAE Loan

This Mashreq bank loan non-listed companies is offered to those individuals who have just moved to the Emirates or have changed their job recently in order to help them settle and fulfill their instant personal finance requirements. Mashreq bank aspires to offer their customers a personal loan within a day.

Minimum Salary Required: AED 10,000

Maximum Tenure: 4 years

Rate of Interest: 5.99 % (reducing)

Maximum Loan Amount: AED 150,000

Early Settlement Charge: 1% of outstanding

Processing Charge: 1% of the loan amount

Features of this ADCB Personal Loan

  • High loan amount of up to AED 150,000
  • Competitive rates of interest
  • Easy documentation and quick approval
  • Flexible repayment tenure of up to 4 years (5 years/60months for the employees of Ministry of Defence)
  • Option for Islamic finance available
  • Available bundled offers with additional benefits

Eligibility Requirements

  • Salary transfer
  • Minimum salary required- AED 10,000 (for non-listed company employees) and AED 7,000 (for listed company employees)
  • Up to 6 months confirmed employment with the current employer

Features and Benefits of Personal Loans in UAE for Non-Listed Companies

Listed below are the various features and benefits of a personal loan in the UAE without a company listing:

Loan Amount

Personal loans in UAE can be availed upon meeting eligibility criteria as specified by the opted bank/ financial institution. They rely on various eligibility checks to analyze the riskiness of applicants. Personal loans for non-listed companies in the UAE may offer smaller loan amounts to help reduce the bank’s risk. However, it is still possible to find a personal loan in the UAE with no such restrictions.

Tenors

Fortunately, the people applying for personal loan for non-listed companies do not face any major difference in loan tenors. Most personal loans in the UAE have a maximum tenor of 48 months (4 Years).

Additional Benefits

Personal loan in UAE without company listing offers various additional benefits such as free credit cards, travel insurance and much more. Even applicants of personal loans for non-listed companies can avail of these benefits.

Eligibility and Required Document for Personal Loans for Non-Listed Companies

Personal loan eligibility in the UAE for employees of non-listed companies is as follows:

Applicant’s Age

Most personal loans in the UAE share a common age restriction criterion; it states that the applicant must be between 21 years to 60 years of age. This is applicable mostly on personal loans in the UAE for expat Emirati applicants may be allowed to apply until the age of 65 years.

Applicant’s Income

The applicant of a personal loan in the UAE without a company listing is considered as a high-risk applicant. As a result, their application is accepted or rejected on the basis of many factors and the one such factor is their income. The minimum salary for the applicants of personal loan for non-listed companies in UAE may be higher than for applicants employed with a listed companies in UAE.

Applicant’s Work Experience

Applicant employed with a non-listed company can increase their chances of qualifying for a personal loan in the UAE if they have a long employment history. Such an applicant is considered to be more financially stable, which is a plus point for personal loan eligibility in the UAE.

Applicant’s Credit Score

Positive credit history and a high credit score are positive contributors to personal loan eligibility in the UAE. A good credit score shows that the applicant is able to maintain regular payments and is worthy of a personal loan.

The documents required for personal loans for non-listed companies in UAE are mentioned below:

  • Application Form: In order to initiate the application process, the applicant will be required to submit a duly filled application form for a personal loan in UAE for non-listed company.
  • Proofs: Applicant of personal loan in UAE without a company listing will have to submit ID and address proofs such as Emirates ID, passport and visa, utility bills and other forms of government IDs.
  • Bank Statement: The personal loan issuer may ask for the applicant’s bank statement to assess their earning potential. The applicant for personal loans in the UAE for non-listed companies will require immaculate banking history.
  • Salary Transfer: Certain personal loans in the UAE require the applicant to open an account with the loan issuer and transfer salary into the same. Such types of personal loans usually require a salary transfer certificate.

The required list of documents and various criteria for the eligibility of personal loan in UAE for unlisted company may change from time to time as per the loan issuer’s discretion.

Frequently Asked Questions

Q1-  Can I apply to any bank for a personal loan in the UAE without a company listing?

Ans: No. Most banks do not offer personal loans in the UAE without a company listing. However, as the UAE sees the formation of dozens of newer organizations, this trend is slowly changing. At the moment, only a few banks offer personal loans for non-listed companies in the UAE.

Q2- Is it possible to calculate my personal loan EMI by myself?

Ans: Yes, it is very easy to calculate your personal loan EMI. There are a variety of options available online for personal loan calculation. These can be used to quickly and effortlessly to calculate the personal loan monthly instalment amount. Personal loan EMI calculators are offered free of charge.

Q3- How can I find out if my company is listed?

Ans: Every bank maintains its own list of approved companies. The easiest way to identify whether your employer falls under the listed companies in UAE is to talk to your administrative or Human Resources department of your company.

Q4- How do I maintain a good credit history?

Ans: A person’s credit report contains decade’s worth of payment history. This means that poor credit history will remain in the person’s report for years to come. The applicant of a loan for non-listed companies in Dubai cannot afford to have a low credit score. To correct poor history, the applicant may avail of a low-cost credit card or apply for a smaller personal loan amount and make timely payments for the same.

Q5- How can I get my company listed with a bank?

Ans: Companies may request to be listed with banks and loan issuers by meeting the respective lender’s eligibility criteria. These criteria may include the total years of establishment, the company’s revenue, the number of hired employees and other such factors.