Personal Loan in UAE AED 2500* Salary ?

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Personal Loan in UAE
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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A personal loan is a type of loan that can help you meet various personal expenses such as debt consolidation, education fees, funds for marriage, or even unexpected medical bills. This type of loan offers individuals the flexibility to borrow a fixed amount of money from a lending institution and repay it over a predetermined period, generally with fixed monthly instalments. 

Personal loans in the UAE typically do not require collateral and have minimal documentation requirements. However, individuals must meet certain eligibility criteria like salary requirements to avail of such a loan. In the sections below, we will understand whether individuals can get personal loans with a salary of AED 2,500.

Is It Possible to Avail of a Personal Loan with a Salary of AED 2500 in the UAE?

Banks and financial institutions in the UAE don’t offer personal loans to individuals with a monthly salary of AED 2,500. It’s worth noting that even though you may come across a few websites mentioning to apply for personal loans with a minimum salary requirement of AED 3,000, but banks and lending institutions in the UAE only offer personal loans to individuals with a monthly salary of at least AED 5,000.

Simply put, you need to have a salary of at least AED 5,000 to have a realistic chance of getting a personal loan in the UAE.

With that clear, let’s have a look at some probable options for personal loans for individuals with a monthly salary of AED 5,000 in the next section.

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Personal Loan With AED 5,000 Salary

Here are the major financial institutions providing personal loans for individuals in the mentioned salary range -  

Emirates NBD Personal Loan for Expatriates

  • You can avail of a loan amount of up to AED 3 million.
  • Flexible loan tenure of up to 48 months
  • The bank provides you with the option of first deferment for up to 45 days.
  • You have the option to avail of up to 2 non-consecutive deferments in your loan cycle.
  • The bank also offers you a 7 days return option.
  • You do not have to maintain a minimum balance on your personal loan account as it is a free zero-balance account.
  • You also get benefits from a free first year Setup fee on overdraft.
  • The bank provides you with a free credit card with eligible points for the first year. 
Click here to Apply for Emirates NBD Personal Loan

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Deem Finance Personal Loan

  • The applicable interest rate on the personal loan offered by the bank varies between 15.99% and 34.99% per annum, depending on your eligibility.
  • Simple and quick approval process
  • You can repay your loan amount within 1, 2, 3, or 4 years.
  • With Deem personal loan, you get the service of Deem Credit Life Plus. This feature has been curated to cover the loan’s outstanding amount in case of an unfortunate event such as death or terminal illness. This service also compensates for repatriation due to death by taking care of the repatriation expenses.
  • The entire loan application is convenient as it involves minimal paperwork. 
Click here to Apply for Deem Finance Personal Loan

ADCB Personal Loan for Expatriates

  • The bank offers personal loans at competitive interest rates starting from 5.75% per annum.
  • For every loan amount of AED 1,000, you can earn up to 300 TouchPoints.
  • You can avail of loans of high salary multiples.
  • With this loan, the bank offers you a free credit card as well.
  • You can avail of the loan consolidation service with this loan product.
  • Easy documentation for the entire loan process
  • The bank also provides you with credit life insurance.
  • You can avail of up to two times salary overdraft.
Click here to Apply for Arab Bank Personal Loan

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What are the Documents Required to Obtain a Personal Loan in the UAE? 

To successfully apply for a personal loan in the UAE, you must have the following set of documents handy -  

  • Completed and signed personal loan application form 
  • Valid Emirates ID
  • Valid passport 
  • Valid residence visa 
  • Original and valid salary transfer certificate
  • Previous 3 or 6 months’ bank account statements 
  • A valid proof of salary, such as a salary slip (for employed individuals)
  • Valid and original trade licence (for self-employed individuals) 

Eligibility Criteria for a Personal Loan in the UAE

While the requirements for personal loans vary as per different financial institutions, you can check out the general requirements to be eligible for a personal loan in the UAE below -  

  • The minimum age to apply for a personal loan is 21 years. 
  • The maximum age to apply for a personal loan is 60-65 years, depending on your nationality. 
  • You must fulfil the minimum monthly salary requirement. 
  • You must be employed when applying for a loan and need to be working with your current employer for the past 1-6 months. 
  • You must have a satisfactory credit score, as mentioned by your concerned lending institution. 

Note: Depending on the requirements of your bank, you may or may not be required to make a salary transfer.

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Frequently Asked Questions

Q1. What are the eligibility criteria for applying for a personal loan in the UAE with a monthly salary of AED 2500? 

Banks in the UAE do not offer personal loans with a monthly salary of AED 2,500. You would effectively need a monthly salary of AED 5,000 to get a personal loan in UAE. 

To be eligible for a personal loan in the UAE, you must meet the following criteria: 

  • You must be at least 21 years old. 
  • Your age must be less than or equal to 60-65 years depending on your nationality. 
  • You must be a salaried or self-employed individual. 
  • You must possess the credit score mentioned by the respective bank or lending institution. 
Q2. What is the repayment tenure available in personal loans offered in the UAE? 

While the personal loan repayment tenure varies for each bank, the repayment tenure is generally between 1 to 4 years.  

Q3. How long do banks take to approve a personal loan application for applicants with a monthly salary of AED 2500?

Banks and other financial institutions can take up to 1-7 business days to approve a personal loan application. However, note that none of the banks in the UAE offers a personal loan at a monthly salary of AED 2500.

Q4. Is it possible to get a loan with a monthly salary of AED 2500 if I have a good credit score?

No, even if you possess a good credit score, you cannot get a personal loan with a monthly salary of AED 2,500. 

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