Compare and find the best personal loan rates in UAE. We'll show you everything you need to know about getting the best rates on a personal loan.
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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
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.
Given below is the list of some financial institutions offering personal loans at a monthly salary of AED 5,000 -
|Click here to Apply for Emirates NBD Personal Loan for Expatriates|
|Click here to Apply for Deem Finance Personal Loan|
|Click here to Apply for ADCB Personal Loan for Expatriates|
Here is a list of the documents required when applying for a personal loan in the UAE -
|Check Your AECB Credit Score in 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 -
Note: Depending on the bank’s requirements and policies, you may or may not be required to make a salary transfer.
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|
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.
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.
The salary transfer requirement entirely depends on the bank from which you are opting for a personal loan.
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.