In the UAE, you can avail of a personal loan for AED 20,000 salary from most banks and lending institutions. Moreover, the banks offer loans that may or may not require salary transfer and are available for both UAE nationals and ex-pats. You can use this type of loan to fulfil personal financial requirements, whether related to higher education, furnishing the house, planning a marriage, expansion of business, and so forth.

With the UAE being home to numerous eminent financial institutions, one can find several options with respect to personal loans. However, with a large number of personal loan options available in the UAE, selecting a plan that suits your requirements the best can prove difficult.

To help you with your personal loan selection, we have listed below the top banks that offer a personal loan in the UAE for AED 20,000 salary. You can go through this article to find out the standard eligibility criteria and the documents required for quick loan approval.

Top 10 Banks Providing Personal Loan for AED 20,000 Salary in UAE

Without further ado, let’s have a look at the top banks offering personal loans for individuals with the mentioned salary and their salient features:

Bank and Loan Name	Flat Rate	Reducing Rate	Minimum Salary	Salary Transfer
Citibank Personal Loan	3.8 – 4.9%	6.99 – 8.99%	AED 8,000	Required
FAB Personal Loan for UAE Nationals	3.02%	5.70%	AED 7,000	Required
HSBC Personal Loan	NA	Starting from 6.99%	AED 10,000	Required
EIB Personal Finance for UAE Nationals	2.25%	4.20%	AED 10,000	Required
Mashreq Personal Loan for UAE Nationals	3.43%	5.99%	AED 10,000	Required
Emirates NBD Loan for UAE Nationals	4.86%	5.49%	AED 5,000	Required
Sharjah Islamic Bank Personal Loan	3.79%	6.87%	AED 8,000	Required
RAKBANK Personal Loan	2.75%	4.99%	AED 5,000	Required
Finance House Personal Loan	NA	20%	AED 5,000	Required
ADCB Personal Loan	3.45%	6.25%	NA	Not Required

1. Citibank Personal Loan

When you secure a personal loan for AED 20,000 salary from Citibank, you can get a maximum finance amount of AED 500,0000 at competitive interest rates. Additionally, no processing fees are charged up to this loan amount.

Features and Benefits

Arrangement Fees – Calculated as 1% of the total loan amount
Maximum Loan Amount – up to AED 500,000 or up to 20 times the salary
Early Settlement Fee – 1% on the remaining principal
Minimum Salary – AED 8,000
Interest Rate – Reducing interest rate between 6.99% and 8.99% and flat rate between 3.8 and 4.9%
0% processing fee
Option to top-up the loan whenever needed
Quick loan approval
Flexible loan tenure between 6 and 48 months
Online loan application process available
In-principle approval within 10 minutes
Salary transfer included

Click here to Apply for this Personal Loan

2. FAB Personal Loan for UAE Nationals

FAB offers personal loans in the UAE for AED 20,000 salary to both UAE Nationals and ex-pats. If you are a UAE national, you can apply for a loan of up to AED 5 million with additional benefits.

Features and Benefits –

Grace period of up to 150 days before repayment of the first instalment
Interest Rate – Reducing Interest of 5.70% and flat rate interest of 3.02%
Quick and easy loan approval
Inclusion of comprehensive personal life insurance coverage
Maximum loan amount – up to AED 5 million
0% processing fee for a loan of amount up to AED 500,000
Minimum Salary – AED 7,000
The qualifying criteria for a 3.79% interest rate includes –
- Employed in a company approved by FAB and has a salary transfer account in FAB
- Minimum salary required - AED 15,000
- The variable interest rate loan can be subjected to an introductory discount over the variable rate (only applicable for the first 9 months)

Click here to Apply for this Personal Loan

3. HSBC Personal Loan

You can avail of HSBC personal loan for AED 20,000 salary for at least 12 months and up to 48 months. The maximum loan amount offered is AED 500,000. Moreover, the interest is of reducing nature and decreases every time you pay your instalment.

Features and Benefits –

Interest Rate – Reducing rate beginning from 6.99%
Loan amount – up to AED 500,000
Maximum loan repayment tenure – up to 4 years
Minimum Salary Requirement – AED 10,000
No need to pay for Credit Life Insurance
Customised interest rate – Interest is based on your profile and creditworthiness
In-principle approval within 10 minutes
You need to have an HSBC current account and transfer your salary to that account.
Alternative to top-up as per your evolving financial requirements

Other benefits –

Insurance
Minimum documentation
Salary transfer
Flexible repayment tenure

Click here to Apply for this Personal Loan

4. Emirates Islamic Bank Personal Finance for UAE Nationals

Emirates Islamic Bank provides a personal loan in UAE for AED 20,000 salary, with the financing structure following the laws of Shariah. This is an interest-free personal loan with a loan amount of up to AED 4 million.

Features and Benefits –

Shariah-compliant Islamic financing product
No over limit fees or extra charges applying
Lower profit rates
Profit Rate – Flat rate of 2.25% per annum; reducing rate of 4.20% per annum
Flexible Repayment Tenure – up to 4 years
Swift loan approval process
Maximum Loan Amount – up to AED 4 million
Option to utilise the loan to combine debts using an easy payment plan
Provision to use it to repay the bill for credit cards from other banks using a lower monthly payment
Salary transfer included
Minimum salary – AED 10,000

Click here to Apply for this Personal Loan

5. Noor Bank Personal Finance

Noor Bank personal loan for AED 20,000 salary in the UAE offers a maximum loan amount of up to 20 times the salary. The loan repayment tenure is flexible (up to 48 months), while the competitive interest rates make them one of the best personal loans in the UAE.

Features and Benefits –

Loan amount
- For UAE nationals – up to AED 3 million
- For ex-pats – up to AED 1 million
Minimum Salary Requirement
- For UAE nationals – AED 8,000
- For ex-pats – AED 6,500
Loan repayment tenure – up to 48 months
Interest Rates – flat rate of 3.49% and reducing rate of 6.33%
Easy documentation
Quick loan approval
Access to pre-approved credit card with additional lifestyle benefits
Personal finance – cash out

Other benefits –

Insurance
Flexible loan payment
Minimal documentation

Click here to Apply for this Personal Loan

6. Mashreq Bank Personal Loan for UAE Nationals

Mashreq Bank is another bank known for offering personal loans at competitive interest rates in the UAE. The banks provide personal loans to both UAE nationals and ex-pats with a maximum loan amount of AED 150,000. It must be kept in mind that these loans require salary transfer.

Features and Benefits –

Minimum Salary – AED 10,000
Interest Rates – Flat rate of 3.43% and reducing rate of 5.99%
Flexible loan repayment tenure – up to 48 months
Maximum Loan Amount – up to AED 150,000
Numerous attractive offers and additional benefits
Quick loan processing
Islamic finance option available
Easy documentation

Other benefits –

Free Bank Account
Free Debit Card
Free Chequebook
Salary Transfer
Phone Banking
Insurance

Click here to Apply for this Personal Loan

7. Emirates NBD Loan for UAE Nationals

Emirates NBD personal loan for UAE nationals is available at competitive interest rates, and is available for salaried and self-employed individuals who are at least 21 years old.

Features and Benefits –

Minimum Salary – AED 5,000
Interest Rates – Flat rate of 2.90% and reducing rate of 5.49%
Quick loan approval
Minimal documentation process
Finance amount – up to AED 800,000
Loan Repayment Tenure – 4 years
Early Settlement Fee – 1% of the overall financed amount
Arrangement fee – 1% of the total loan amount
Access to about 560 ATMs of the bank across the UAE

Other benefits –

Bank account - Free
Insurance
Complimentary debit card
Phone banking

Click here to Apply for this Personal Loan

8. Sharjah Islamic Bank Personal Loan

Sharjah Islamic Bank follows the Murabaha structure for its personal loan in the UAE for AED 20,000 salary. This finance product does not have any interest or Riba. With the help of this loan, you can easily pay off the education fees, make personal investments, or furnish your house.

Features and Benefits –

Finance amount – up to AED 2.5 million
Loan repayment tenure – 4 years
Minimum salary – AED 8,000
Profit Rates – flat rate of 3.79% and reducing rate of 6.87%
Early settlement fees – 1.05%
Documentation fees – 1.05%
Cashback of AED 2,500 after disbursal when you apply for the loan online

Other benefits –

Credit card
Free debit card
Free bank account
Salary transfer
Insurance
Phone banking

Click here to Apply for this Personal Loan

9. RAKBANK Personal Loan

RAKBANK personal loan for AED 20,000 salary offers a finance amount that is 20 times your salary at competitive interest rates. This loan is preferred for its flexible loan repayment tenure.

Features and Benefits -

Flexible loan repayment tenure – up to 4 years
Minimum salary requirement – AED 5,000
Interest rates – flat rate of 2.75% and reducing rate of 4.99%
Loan Amount – up to 20x the salary

Other benefits –

Credit card
Complimentary cheque book
Insurance
Phone banking
Complimentary bank account
Complimentary debit card
Salary transfer

Click here to Apply for this Personal Loan

10. Finance House Personal Loan

Finance House offers personal loan in the UAE for AED 20,000 salary at competitive interest rates. The personal loan is available at a reducing rate beginning from 20%. Besides a flexible repayment tenure, this personal loan also has a grace period on the first instalment.

Features and Benefits –

Minimum Salary Requirement – AED 5,000
Maximum loan repayment tenure – 48 months
Top-up loan available after 1 year
Effortless loan takeover from other banks
Interest rates – reducing rate starting from 20%

Other benefits –

Complimentary RAKBANK debit card and customised chequebook
Complimentary RAKBANK credit card with no annual fees
24/7 phone banking service
Insurance
Salary transfer

Click here to Apply for this Personal Loan

11. Abu Dhabi Commercial Bank Personal Loan

ADCB personal loan for AED 20,000 salary in the UAE, is one of the most rewarding loans in the country. This personal loan can be availed of at competitive interest rates by both UAE nationals and ex-pats. What makes the loan stand apart is that the maximum permissible finance amount is 20 times the salary.

Features and Benefits –

Loan Amount –
- For UAE nationals – up to AED 750,000
- For ex-pats – up to AED 600,000
Loan repayment tenure – up to 4 years
Minimum salary required – AED 7,500
Interest rates – flat rate of 3.45% and reducing rate of 6.25%
Top-up option post 6 months
No need for credit life insurance
Online loan approval in 10 minutes

Other benefits –

Credit Card
Complimentary Debit Card
Salary Transfer is not Required
Phone Banking Service

Eligibility Criteria for Personal Loan in the UAE for AED 20,000 Salary

The following are the general criteria that determine if you will get the personal loan for AED 20,000 salary easily –

The minimum age limit is 21 years and the maximum age limit range is 60 to 65 years for the applicant
The monthly salary of the applicant must be between AED 2,500 and AED 4,000
A good credit Score is required on the applicant’s part
You must be either a salaried or a self-employed person – Students cannot apply for a personal loan

Note – Other major requirements to get a personal loan in the UAE for AED 20,000 salary are your employment history which might differ as per the bank’s requirements and UAE residency, which depends on the different personal loan types.

Necessary Documents for Personal Loan in the UAE for AED 20,000 Salary

Here are some standard documents that you would need to provide when applying for the personal loan for AED 20,000 salary –

A copy of Emirates ID (for residents and nationals)
Resident Visa or Passport Copy (for ex-pats)
Salary Transfer Certificate (should be dated at most 30 days from the date when applying for the loan)
3 to 6 months Bank Account Statement
Trade licence (for individuals with business)

It must be kept in mind that the list of required documents will differ as per the lender. Some banks may also request the applicant to submit additional documents.

To Conclude

There are several banks in the UAE that offer personal loan for AED 20,000 salary. However, to get the loan approval and to cater to your financial requirements, you would need to meet the eligibility criteria that can vary as per the loan provider. When applying for the loan, make sure you carry the required documents including proof of income and identification proof for seamless approvals.

Have a look at the frequent queries related to personal loans for AED 20,000 salary in UAE:

Personal Loans Based on Salary in UAE
Personal Loan in UAE 3000 salary	Personal Loan in UAE with 5000 Salary
Personal Loan for 7000 Salary in UAE	Personal Loan in UAE with 9000 Salary
Personal Loan for AED 8000 salary	Personal Loan in UAE 11000 Salary
Personal Loan in UAE with 15000 Salary	Personal Loan for AED 17000 salary
Personal Loan in UAE with 25000 Salary	Personal Loan for 6000 AED Salary
Personal Loan in UAE 2000 Salary	Personal Loan in UAE 2500 Salary

Frequently Asked Questions

The maximum loan repayment tenure for personal loans is usually 48 months.

You can use a personal loan to organise a wedding event. The only thing to note here is that you would be required to meet the eligibility criteria to obtain the loan.

You would need to pay a fee if you settle your personal loan in advance. This charge is usually 1% of the loan amount.

You can take a personal loan from two different banks at the same time. However, this would require you to meet the following requirements –