Personal Loan in UAE

Personal loans in UAE are quite useful to make any big transactions. However, while you can quickly get funds with these loans, the large number of options can make it difficult for you to choose one. is here to make it super easy for you. We bring the best personal loans at attractive rates to you - all in one place! Check out the loans to find the one that best fits your needs. more

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

Get personal loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

A personal loan in the UAE can be a helpful financial tool for managing expenses and achieving your goals. Unlike other types of loans, it does not require any collateral, which makes it accessible and convenient. Choosing the right personal loan in the UAE is important to get favourable terms and manageable repayments. With various banks and financial institutions offering different options, it is essential to compare and choose wisely. With the right personal loan, you can have the necessary funds for various needs — from debt consolidation to home improvements. This can give you the financial flexibility you require.

What is Personal Loan?

With a personal loan in UAE, you can cover a variety of expenses without needing any collateral or a guarantor. As an unsecured loan (without collateral), it offers the flexibility to use the funds for various needs such as financing an international trip, paying for higher education, consolidating debt, or celebrating major events like weddings.

When you take out a personal loan, you need to repay the borrowed amount over time along with interest. The personal loan interest in UAE can be calculated using either a reducing or flat rate. Note that the interest rate is based on factors such as your income, credit history, age, and employment status.

This flexibility makes it a valuable option for those who need quick financial assistance without the pressure of immediate repayment.


Personal Loan Interest Rate in UAE

The personal loan interest rate in UAE is simply the cost that you pay for the borrowed loan amount. These rates are available as a flat interest rate or a reducing interest. Given below is the explanation -


Flat Interest Rate -

Under the flat interest rate method, the interest is charged on the entire loan amount initially borrowed. It remains constant throughout the loan tenure.

For instance, if you secure a loan at a flat rate, even as you pay down the balance, the interest calculation does not change. So if the lowest interest rate for personal loan in UAE starts at, say, 2.63%, your interest payments remain consistent, whether it is the first month or the last. In this case, the rates can possibly reach up to 22.22%.


Reducing Interest Rate -

On the other hand, under reducing interest rate, the interest decreases over time as you continue to pay off the loan amount. The interest is calculated on the remaining principal amount, which decreases after each installment.

For example, if you start with a loan at a reducing rate, each payment you make reduces the principal. The subsequent interest is then calculated on this reduced amount.The rates for reducing interest can vary from 5.24% to 39.99% in the UAE.


Types of Personal Loans in Dubai, UAE

Personal loans in UAE come in a variety of options — you can find ample options to meet your specific financial needs and eligibility criteria. 

Here is a look at some of the common types of personal loans in Dubai, UAE -

  • Personal Loans for UAE Nationals - These loans are specifically designed for UAE nationals, often featuring favourable terms such as higher loan amounts and lower UAE personal loan interest rates. 
  • Personal Loans for Expatriates - Expats in the UAE can also access personal loans that are crafted to suit their specific conditions and residency status. These loans might have slightly different terms compared to those for UAE nationals.
  • Personal Loans with Salary Transfer - For a personal loan with salary transfer, you need to transfer your monthly salary directly to the bank offering the loan. Generally, such a loan comes with lower interest rates and is considered the best personal loan in UAE.
  • Personal Loans without Salary Transfer - For those who prefer not to transfer their salary to the lender, there are options available that don’t require salary transfer. However, keep in mind that these loans might carry a higher interest rate due to the increased risk to the lender.
  • Personal Loans for Self-Employed Professionals - If you’re a self-employed individual in the UAE, you can get these loans. Such loans often require proof of income through bank statements. They accommodate the variable income patterns of entrepreneurs and freelancers.
  • Personal Loans without Company Listing -Typically, banks prefer lending to employees from listed companies because of perceived stability. However, some lenders do offer loans to individuals whose employers are not listed with the bank. Note that these might come with higher UAE personal loan interest rates.
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Get the Best Personal Loan from the Top UAE's Banks

How to Calculate Your Personal Loan EMI in UAE

You can use's personal loan calculator UAE to know your installments for the loan. As an online automated tool, a personal loan calculator provides you with an estimated EMI amount based on the information that you enter. Using a personal loan calculator in UAE, you can make an informed decision and get the best personal loan as per your requirements.


Best Personal Loan Plans in Dubai, UAE - 2024

Here is the list of the Best Personal Loan in UAE in 2024 with Interest rate comparison and other requirements.Personal Loan Rates UAE Comparison: Given below is a detailed personal loan comparison between the various bank loan in UAE that offers their customers the best-unsecured loan rates in UAE

Bank Name Minimum Salary Flat Rate* Reducing Rate* Apply
Commercial Bank of Dubai (Quick Loan) AED 8,000 7.6% 14% Apply Now
Emirates NBD
(Loan for Expatriates)
AED 5,000 NA 5.99% Apply Now
Emirates NBD
(Loan for UAE Nationals)
AED 5,000 NA 5.99% Apply Now
Deem Finance (Personal Loan) AED 5,000 NA 15.99% - 34.99% Apply Now
First Abu Dhabi Bank (Personal Loan for Expats) AED 7,000 2.82% 5.34% Apply Now
First Abu Dhabi Bank (Personal Loan for UAE Nationals) AED 7,000 4.74% 4.89% Apply Now
HSBC (Persona Loan) AED 7,500 NA 6.99% Apply Now
First Abu Dhabi Bank
(New to Country Loans)
AED 7,000 3.24% 6.07% Apply Now
Dubai Islamic Bank (Personal Loan) AED 7,000 4.9% 5.99% - 21.99% Apply Now
Abu Dhabi Islamic Bank (Personal Finance) AED 8,000 NA NA Apply Now
See Plans

*For reference purposes only. Actual rates may vary as per your profile.



Steps to Compare Personal Loans in UAE

It’s important to remember that the cheapest personal loan in UAE may not always be the best!

To get the best plan for yourself, you need to check the costs as well as loan amounts, eligibility requirements, provider reviews, and more. For that, it’s always good to compare the top options regarding personal loan UAE.

To simplify the comparison process, here are some steps -

  • Research Options: Start by visiting the official websites of banks or use comparison platforms like to explore the different features of personal loans.
  • Compare Interest Rates: Review the interest rates and profit rates of each loan to find the lowest interest rate for personal loan that comfortably fits within your budget.
  • Assess Salary Requirements: Verify the minimum salary required by the banks to qualify for a personal loan in UAE.
  • Calculate Instalments: Make use of the bank’s EMI (Equated Monthly Instalment) calculator to get the proposed loan instalments.
  • Salary Transfer Requirements: Determine if transferring your salary to the bank is necessary to get the loan.
  • Repayment Flexibility: Look into the repayment terms, including the grace period and the ease of repayment options provided by the bank.
  • Additional Features: Check for additional loan features like deferred payment options, credit shield, and conditions for early settlement to better manage your loan in UAE.

Final Decision: Once you have reviewed all these factors and decided which loan suits your needs best, learn more about how to proceed with the application process to get a personal loan in Dubai


Top 5 Banks for Personal Loan in UAE with Low-Interest Rate and Different Loan Offers

Let's take a look at the best and cheapest personal loans in UAE:


1- Emirates NBD

Emirates NBD has a comprehensive range of personal loan options to meet various financial needs. The bank provides loans with attractive interest rates starting from as low as 5.99%. The wide range of loan amounts and the simple application process make Emirates NBD a strong contender for the best personal loan in UAE for those who qualify under its terms​.

Parameters Emirates NBD Personal Loan for UAE Nationals Emirates NBD Personal Loan for Expatriates
Loan Amount Up to AED 4 Million Up to AED 2 Million
Zero Balance Account Free Free
Requirement of Collateral or Guarantor No No
Loan Tenure Up to 48 Months (Up to 60 months for Ministry of Defence employees) Up to 48 months
Salary Transfer Mandatory Mandatory
Insurance Included Included

2- Commercial Bank of Dubai

Commercial Bank of Dubai (CBD) offers a range of best personal loan options that you can access without mandatory salary transfer. The bank provides instant loan approvals for amounts up to AED 150,000 through its mobile app — all with just an Emirates ID. CBD's flexible repayment terms and easy application process make its offerings some of the most user-friendly ones in the market.

Parameters Commercial Bank of Dubai Personal Loan
Salary Transfer Not required
Who can Apply Both new and existing customers
Documents Required Emirates ID
Maximum Loan amount  AED 150,000
Age Required Minimum – 21 Years and Maximum – 60 Years
Loan Repayment Tenure  Minimum – 1 Year and Maximum – 4 Years

3- First Abu Dhabi Bank

First Abu Dhabi Bank (FAB) has a diverse range of personal loans for various segments of the population — UAE nationals, expats, and those new to the country or employment. FAB is known for its competitive interest rates and flexible repayment terms, making it a favourable choice for many looking for the cheapest personal loan in the UAE.

Parameters First Abu Dhabi Bank Personal Loan for UAE Nationals First Abu Dhabi Bank Personal Loan for Expatriates 
Salary Transfer Mandatory Mandatory
Comprehensive Life Insurance Coverage Included Included
Grace Period for First Repayment 210 Days 120 Days
Processing Fee One-time upfront processing fee of 1.05% on the loan amount (minimum AED 525 and maximum AED 2,625) One-time upfront processing fee of 1.05% on the loan amount (minimum AED 525 and maximum AED 2,625)
Fast and Easy Approvals Included Included
Maximum Loan Amount AED 5 Million AED 2 Million


HSBC UAE offers a diverse suite of cheapest personal loan UAE options. These loans can be used for a wide range of needs — from education and home improvements to personal liquidity and rent payments. Thepersonal loans of HSBC are known for flexible repayment terms — ranging from 6 to 48 months — and competitive interest rates.

Parameters HSBC Personal Loan
Loan Repayment Tenure  6 to 48 months
Insurance Included
Salary Transfer Mandatory
Maximum Loan Amount AED 500,000
Eligibility Must have a current account with HSBC — your salary must be credited to that account
Nationality UAE resident

5- Dubai Islamic Bank

Dubai Islamic Bank (DIB) personal loans can go up to AED 4 million for UAE nationals and AED 2 million for expats. Their profit rates, meanwhile, start from 5.99% per annum on a reducing basis. DIB personal finance products are Sharia-compliant and offer a financial solution without the imposition of traditional interest, which aligns with Islamic finance principles. The bank also provides a quick and easy application process with minimal documentation required, making them the best personal loan in UAE.

Parameters Dubai Islamic Bank 
Maximum Loan Amount
  • AED 4 Million for UAE Nationals 
  • AED 2 Million for Expats
First Instalment Payment
  • Up to 120 days for UAE Nationals
  • Up to 90 days for Expats
Loan Repayment Tenure Up to 48 months
Insurance Included
Salary Transfer Mandatory



Eligibility Criteria to Apply for Personal Loan in UAE & Dubai

Eligibility criteria for personal loans in the UAE vary from one financial institution to another, but there are common requirements that most banks and lending institutions generally consider.

Here is a table summarising these criteria:

Aspect Personal Loan in UAE Eligibility
  • Minimum: 21 years
  • Maximum: 60-65 years
(Some banks may allow applicants as young as 18)
Minimum Salary Approximately AED 5,000 to AED 8,000, varying by financial institution
Employment Status Must be employed with at least 6 months of confirmed salary at the current job
credit Score A good credit score is required to demonstrate creditworthiness and the capability to repay
Residency Must be a UAE resident
Salary Transfer Some may require, others may not 


How to Apply Personal Loan in the UAE?

Applying for a personal loan UAE online is both convenient and quick. The best platform for this is As one of the pioneering digital brands in the UAE financial services sector, offers a convenient solution for those seeking financial products. Boasting an impressive Google rating of 4.6 from over 18,000 reviews, the platform provides unbiased financial expert advice and offers a wide range of financial institutions to choose from.

To apply for the best personal loan in UAE via, you can follow these steps:

  • Visit the official website: Navigate to
  • Look for the personal loan option: Find the relevant section on the website.
  • Fill out the lead form: Provide the necessary details to initiate your loan inquiry.
  • Review personal loan quotes: After submitting your information, a page with various personal loan quotes will appear.
  • Compare and apply: Examine the different offers and compare them based on your needs and financial circumstances. Next, apply for the best personal loan in UAE that suits your requirements.


Document Required to Apply for Personal Loan in Dubai, the UAE

To get a personal loan in the UAE, you need to provide several key documents to the bank or financial institution to verifying your identity, financial stability, and employment status.

The following documents are required -

  • Duly Filled Application Form: To provide personal details and consent for the loan process
  • Copy of Emirates ID: To verify your identity and residency status
  • Passport and Visa Copy: Required for expats to confirm their legal status in the UAE
  • Bank Statement: For the last 3 to 6 months (as per the bank’s requirements) — this tells about your financial health and cash flow
  • Salary Transfer Certificate (Optional): Some banks may request this if you choose to transfer your salary directly to them.

Frequently Asked Questions

Q1. Which bank personal loan is best in the UAE?

Ans: There is no specific bank offering the best personal loan. It entirely depends on your financial requirements and other criteria. Find the most suitable personal loan at Policybazaar UAE!

Q2. How much salary is required for a personal loan in the UAE?

Ans: You must have a minimum monthly salary of AED 5,000 to apply for a personal loan in the UAE.

Q3. Can I get a loan with a 4000 AED salary?

Ans: Unfortunately, you do not qualify for a personal loan with a salary of AED 4000. The minimum salary requirement is AED 5000.

Q4. Can I get a loan on Emirates ID?

Ans: No, you must submit other documents along with the Emirates ID. A list of general documents for a personal loan application processing includes:

  1. Emirates ID
  2. Passport
  3. Residence Visa (applicable to expatriates)
  4. Salary certificate (for salaried employees)
  5. Trade licence (for self-employed individuals)
  6. 3-6 months’ bank statements
Q5. How do I choose a personal loan provider?

Ans: At Policybazaar UAE, we offer you the convenience of finding the best personal loan matching your financial and other requirements. Simply visit our website, fill out the quotes page and get a wide range of personal loan products to choose from.

Q6. Can I transfer my loan to a different bank that charges lower interest?

Ans: Yes, you can transfer your personal loan to a different bank with a lower interest rate. In fact you can get a new loan of the total outstanding amount.

Q7. What is an early settlement fee?

Ans: An early settlement fee is fundamentally the cost a borrower needs to pay if the loan is settled in full before the end of the actual agreed tenure.

Q8. What if I need to extend my personal loan?

Ans: You can extend your personal loan if you opt for a top-up loan from your bank. Lending institutions often increase your personal loan tenure when you choose to increase your loan amount via the top-up facility.

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