Personal Loan with a Salary less than AED 4000* in Dubai

Personal Loan up to 8 times your Salary

Personal Loan in UAE

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  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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When financial needs arise, a personal loan certainly works as a practical solution. Personal loans have minimal documentation requirements and can be easily availed to fulfil personal requirements. 

The repayment of personal loans takes place over a predetermined duration, typically accompanied by regular fixed monthly payments. Particularly in the UAE, personal loans offer the advantage of not requiring collateral and imposing minimal documentation obligations. 

With that said, individuals interested in obtaining such loans must meet specific eligibility criteria, which include meeting salary requirements. This article discusses the prospects of securing personal loans with a monthly salary of AED 4,000.

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

Is it Possible to Obtain a Personal Loan With a Salary of AED 4000?

Individuals having a monthly salary of AED 4,000 in the Emirates do not meet the eligibility criteria for a personal loan. To be considered eligible for a personal loan, you must have a minimum monthly salary of AED 5000. 

Keep in mind that while some bank websites may mention personal loans for individuals with a salary of AED 4,000, they do not actually provide such loans and require a salary of AED 5,000 nonetheless. Prospective borrowers, as a result, must have a salary of at least AED 5,000 to be eligible for a personal loan.

Personal Loans with a Salary of AED 5000

Given below is the list of some financial institutions offering personal loans at a monthly salary of AED 5,000 -  

Emirates NBD Personal Loan for Expatriates

  • The bank provides you with 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.
  • You also get benefits from a free first-year Setup fee on overdraft.
  • With this personal loan, you get 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.
  • 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 for Expatriates

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Deem Finance Personal Loan

  • The applicable interest rate on this personal loan varies between 15.99% and 34.99% per annum as per your eligibility.
  • Straightforward and quick approval process
  • You can repay your loan amount within 1, 2, 3, or 4 years.
  • With this personal loan, you can avail of the Deem Credit Life Plus service. This feature has been exclusively designed to cover the loan’s outstanding amount in case of an unfortunate event such as a terminal illness or death. This feature 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 attractive interest rates starting from 5.75% per annum.
  • You can avail of loans of high salary multiples.
  • ADCB also offers you a free credit card upon availing of the personal loan.
  • For every loan amount of AED 1,000, you can earn up to 300 TouchPoints.
  • You can easily avail of the loan consolidation service with this loan product.
  • Easy documentation for the entire loan process
  • You get the benefit of credit life insurance with your ADCB personal loan.
  • You can avail of up to two times the salary overdraft. 
Click here to Apply for ADCB Personal Loan for Expatriates

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

Here is a list of the documents required when applying for a personal loan in the UAE - 

  • Completed and signed personal loan application form 
  • Valid passport 
  • Valid Emirates ID
  • 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)  
Check Your AECB Credit Score in UAE 

What are the Eligibility Criteria for a Personal Loan in the UAE? 

The eligibility criteria with respect to personal loans are different for each bank. However, you can find below some of the general eligibility requirements for reference -  

  • 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 to 6 months. 
  • You must have a satisfactory credit score, as mentioned by your concerned lending institution.  

Note: Depending on the bank’s requirements and policies, you may or may not be required to make a salary transfer.

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The Bottom Line

You are now aware of the procedure involved in applying for a personal loan with 4000 AED salary. Therefore, it is advisable to be well prepared for a thorough risk assessment procedure before applying for a personal loan.

Personal Loans Based on Salary in UAE
Personal Loan for 2500 AED Salary Personal Loan in UAE 3000 AED Salary
Personal Loan with Salary AED 5000 Personal Loan for 6000 AED Salary
Personal Loan for 7000 Salary in UAE Personal Loan for AED 8000 salary
Personal Loan in UAE with 9000 Salary Personal Loan in UAE 11000 Salary
Personal Loan in UAE with 15000 Salary Personal Loan for AED 17000 salary
Personal Loan for AED 20000 salary Personal Loan in UAE with 25000 Salary

FAQ's

What is the maximum age for a UAE expatriate to apply for a personal loan in the UAE?

In general, the maximum age to apply for a personal loan for a UAE expatriate is 65 years. However, note that the age criteria may vary for each financial institution. 

What happens if I do not pay off my personal loan in the UAE?

If you miss out on paying off your personal loan instalments, you will be liable to pay a fine. In addition to that, you may also notice a significant decrease in your credit score.  

Is it mandatory to make a salary transfer for a personal loan? 

The salary transfer requirement entirely depends on the bank from which you are opting for a personal loan. 

Do I have to take life insurance to get a personal loan in the Emirates?

Opting for a life insurance policy to obtain a personal loan depends on the bank from which you are taking up the loan. Make sure to get in touch with one of the officials of the concerned bank when planning to take up a personal loan.

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