Top 10 Best Banks For Personal Loan in UAE with 11000 Salary

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Personal loans are perfect for managing your finances when it comes to dealing with unannounced personal expenses. Personal loans are generally available as both secured and unsecured loans allowing the borrowers flexibility to present collateral. Financial institutions provide personal loans to both UAE nationals and ex-pats depending on the eligibility criteria of their products. Income is considered one of the primary eligibility criteria for personal loan disbursals. This article will cover all the top personal loans for AED11000 salary in UAE. We will discuss several important aspects related to personal loans including documents required for application, features of the loans, other eligibility criteria and more.

List of Banks Offering Personal Loan for AED 11000 Salary in UAE

The following section contains a tabular representation of to know which banks provide a personal loan for AED 11000 in UAE.

Loan Product 

Salary Requirement

Flat Interest Rate

Salary Transfer Requirement

Emirates NBD Personal Loan

AED 5,000

2.77% per annum onwards

Not Mandatory

Deem Finance Personal Loan

AED 5,000

NA

Not Mandatory

Mashreq Bank Personal Loan

AED 7,000 for ex-pats

AED 10,000 for nationals

3.43% per annum onwards

Mandatory

RAKBANK Personal Loan

AED 5,000

2.75% per annum onwards

Mandatory

FAB Personal Loan

AED 7,000

3.02% per annum onwards

Mandatory for ex-pats

HSBC Personal Loan

AED 10,000

NA

Mandatory

Citibank Personal Loan without Salary Transfer

AED 8,000

7.70% per annum onwards

Not Mandatory

CBD Digi Personal Loan

AED 10,000

NA

Not Mandatory

Emirates Islamic Personal Bank

AED 10,000

2.25% per annum onwards

Mandatory

Features of Top Personal Loans for AED 11,000 Salary in UAE

Below given is a detailed description of all loans offered for a salary of 11,000 or lower in the UAE:

1. Emirates NBD Bank Personal Loan

Emirates NBD is one of the most popular banks in the UAE offering several amazing loan products from all categories. This Emirates NBD personal loan for 11,000 salary is perfect for both UAE nationals as it comes with high loan amounts and rather flexible repayment tenure. Let’s cover its main features:

  • With the Emirates NBD personal loan, customers have the option to repay their loan amount within 4 years.
  • The bank provides the borrowers with a free debit card and bank account. 
  • The maximum loan amount offered is AED 4 million.
  • The process of loan disbursal involves minimal documentation and swift processing.
  • Allows deferment for up to 2 instalments every year.
Click here to Apply for this Personal Loan

2. Deem Finance Personal Loan

One of the most popular finance houses in the emirates, Deem Finance personal loan for 11,000 salary is ideal for individuals requiring loans without a salary transfer. Let’s see what this loan product offers:

  • The online application for this personal loan with 11,000 salary involves minimal documentation. 
  • No application or processing fee. 
  • The lender offers instant approvals and swift disbursals. 
  • Flexible loan repayment option of up to 4 years. 
  • One can easily apply for this personal loan for 11,000 salary without a salary transfer. 
Click here to Apply for this Personal Loan

3. Mashreq Bank Personal Loans 

High loan amount, flexible tenure and easy processing are just a few of several features that this Mashreq Bank personal loan for 11,000 salary comes with. Following is a detailed description of its features:

  • Maximum available loan amount for this product is AED 3 million. The loan amount available for ex-pats may be lesser. 
  • Customers can avail of a top-up option for their existing personal loan. 
  • The bank lets you borrow up to 20 times your salary. 
  • The bank offers swift processing of applications with minimal documentation. 
  • Individuals applying for personal loans can defer their first EMI for up to 90 days.
Click here to Apply for this Personal Loan

4. RAKBANK Personal Loan 

RAKBANK personal loans not only help you cover your urgent financing needs but also provide you with several value-adding benefits. Let’s see what kinds of offers and features this personal loan for 11,000 salary comes with:

  • The loan approval process is fast, hassle-free and requires minimal documentation.   
  • Borrowers can pay off the loan amount within 4 years. 
  • Individuals can opt for a top-up loan after one year of their RAKBANK personal loan tenure has passed. 
  • The bank allows easy loan buy-outs from other financial institutions.
  • Get loan amounts up to 20 times your salary as the personal loan amount.
  • Borrowers get a free debit card and cheque book with this personal loan for 11,000 salary. 
  • The bank also provides a RAKBANK credit card with zero annual fees and a low interest rate.
Click here to Apply for this Personal Loan

5. FAB Personal Loan 

FAB personal loan is perfect for you if you are looking to get a rather high loan amount for your financing needs. Following is a detailed look into its major features:

  • The bank grants a loan amount of up to AED 2 million to ex-pats and up to 5 million to UAE nationals. 
  • The personal loan documentation process is easy, convenient, and fast. 
  • Ex-pat borrowers get a 90-day grace period before their first instalment repayment and nationals get a grace period of 150 days. 
  • Salary transfer is required for ex-pats.  
  • Get comprehensive life insurance coverage with your loan. 
Click here to Apply for this Personal Loan

6. HSBC Bank Personal Loan

If you wish to get your personal finance from an international bank, HSBC personal loan is a top-tiered choice for you. High loan amount, flexible tenure and attractive rates of interest are some of the many features this loan product comes with: 

  • A flexible loan repayment option of 6-48 months is available. 
  • The bank offers reducing rates of interest starting at 6.99% pa. 
  • Existing customers can opt for the top-up option on their personal loans. 
  • In principle approvals take only 10 minutes if you apply online. 
  • Maximum loan amount is AED 500,000. 
  • Credit life insurance is not mandatory for this personal loan for 11,000 salary.  
Click here to Apply for this Personal Loan

7. Citibank Personal Loan without Salary Transfer

As far as personal loans without salary transfer are concerned, Citibank personal loans always come at the top. Let’s what features this personal loan for 11,000 salary has along with the value-adding benefits it provides:

  • Customers can borrow a loan amount of up to AED 175,000 without salary transfer or up to 8 times your salary. 
  • The application process for this conventional loan is easy and completely digital. 
  • With the Citi personal loan without salary transfer personal loan, individuals can flexibly pay monthly instalments. 
  • Individuals can conveniently top up their loans after 9 months.  
  • The bank offers Noon vouchers worth AED 1,000 with its personal loans. 
Click here to Apply for this Personal Loan

8. CBD Digi Personal Loan

Commercial Bank of Dubai Digi personal loan is a completely digital personal loan that requires no paperwork whatsoever. Give below are some exciting benefits that this personal loan for 11,000 salary offers:

  • CBD personal loan comes with a competitive reducing interest rate starting from 15.99% pa. 
  • Customers can get their personal needs financed with maximum loan amount of up to AED 150,000. 
  • No minimum salary transfer required to get this personal loan for 11,000 salary.
  • Completely digital loan application and processing using only your emirates ID. 
  • For existing CBD personal loan customers, the bank provides a top-up option. 
Click here to Apply for this Personal Loan

9. Emirates Islamic Bank Personal Loan 

If you wish to get an Islamic personal loan instead of a conventional product, Emirates Islamic personal loan may be your perfect fit. Following are its features explained in detail for your benefit:

  • The bank offers a loan amount of up to AED 2 million for ex-pats and AED 4 million for Emiratis. 
  • Customers enjoy a flexible tenure of up to 48 months to repay their loan. 
  • The application process is pretty hassle-free and approvals are sent instantaneously. 
  • The bank requires only one month’s salary transfer. 
  • The bank offers attractive profit rates for this completely sharia-compliant personal loan for 11,000 salary. 
Click here to Apply for this Personal Loan

Personal Loan Eligibility Criteria for AED 11000 Salary

Personal loan applications are subject to a few eligibility criteria. These criteria not only decide whether you can apply for a personal loan but may also impact the loan terms that you get. Let’s understand the eligibility criteria for a personal loan for 8,000 salary:

  • Age: The minimum age to apply for a personal loan is 21 years in the UAE. Most banks also apply a maximum age limit for the loan. Banks generally do not accept loan applications from applicants above the age of 60-65 years. Banks may offer lower interest rates to younger applicants with better repayment prospects as compared to older applicants.  
  • Income: Minimum salary required to get a personal loan may differ for each loan product. You may be able to get a higher loan amounts according to your income. Banks generally offer personal loan amount as multiples of the applicant’s salary. Hence, a higher salary = a higher loan amount.
  • Nationality: Both UAE ex-pats and nationals are eligible to apply for personal loans. Banks may offer different loan products for nationals and ex-pats. Some loan products offered may be available for both ex-pats and nationals.  
  • Employment Status: Self-employed as well as salaried individuals can apply for personal loans for AED 11,000 salary in the UAE. The bank may decide your loan amount based on your employment type. Changes in other eligibility criteria may also change. 
  • Credit History: Most banks require a minimum credit score of 580 for personal loans. Some banks with a higher risk appetite may offer loans to applicants with lower credit scores as well. However, a lower credit score will attract higher interest rates and unfavourable loan terms.

Overview of the Eligibility Criteria

Parameters 

Eligibility 

Minimum Age

21 years

Maximum Age 

60-65 years

Minimum Salary 

As required by the bank

Employment Type 

Salaried and self-employed 

Nationality 

UAE nationals and ex-pats

Documents Required for Personal Loan for AED 11000 Salary

If you need a personal loan for AED 11000 salary in UAE, then you must have the following documents as required by the banks: 

For Salaried Individuals

  • Valid Emirates ID
  • Bank account statement of previous 3-6 months
  • Salary transfer certificate (if required by the bank)
  • Salary certificate issued by your employer issued in the bank’s name
  • Valid passport with UAE resident visa (only for ex-pats)

For Self-Employed Individuals

  • Valid Emirates ID
  • Bank account statement of previous 3-6 months
  • Trade license
  • Loan application form
  • Valid passport with UAE resident visa (only for ex-pats)
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FAQs

Which banks in the UAE provide personal loans for salaries ranging from AED 8000 to AED 11000?

Emirates Islamic bank, Citibank, CBD, CBI, and Abu Dhabi Islamic bank are some of the top banks that provide personal loans to applicants with a salary ranging between AED 8000 and AED 11000.

Do banks require salary transfer for a personal loan for 11000 salary?

Some banks in the UAE may require salary transfers while others do not. It generally depends on the personal loan you have chosen. 

What is the interest rate for a personal loan offered by Commercial Bank International?

CBI banks offer an interest rate of 6.75% per annum for personal loans. 

Which documents are required to avail of a personal loan for AED 11000 salary in UAE?

Check out the documents enlisted to apply for a personal loan with 11000 salary: 

  • Valid Emirates ID
  • Bank account statements for the past 3-6 months
  • Loan application form
  • Trade license (for self-employed applicants) and salary certificate (for salaried individuals)
  • Valid passport with resident visa of UAE for ex-pats
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