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Personal Loan for UAE Nationals with Fast Track Approvals

Personal Loan in UAE

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  • Hassle-free documentation
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

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A personal loan for UAE nationals can help Emiratis meet their immediate and personal funds requirements. The leading financial institutions in the UAE offer conventional and Shariah-compliant personal loans for UAE nationals. With a personal loan, you can easily fund your child’s higher education, start a new business, organise your wedding, or even purchase new furniture for your home. If you go with any of the leading banks or institutions, one of the major features of the personal loans you will find is their fast-track approval rate. 

In this write-up, we will discuss the top banks that offer personal loans for UAE nationals with a fast-track approval feature. You will also get to learn more about the eligibility criteria and documents required to fast-track the loan approval process.

Top Banks That Offer Personal Loan for UAE Nationals with Fast Track Approvals

Listed below are the top banks that provide personal loans for UAE nationals with fast track approvals – 

Bank Name

Loan Name

Minimum Salary (Per Month)

Flat Rate

Reducing Rate

Citibank

Personal Loan

AED 8,000

3.8% to 4.9% 

6.99% to 8.99%

First Abu Dhabi Bank 

Personal Loan for UAE Nationals

AED 7,000

3.02%

5.45%

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1. Citibank – Personal Loan

Citibank offers personal loans for UAE nationals at reasonable interest rates payable. These loans are unsecured and require minimum documentation. You can avail of a high personal loan amount of up to AED 500,0000 or up to 20 times your salary. The bank offers flexible repayment tenure between 6 months and 48 months. 

The interest rate payable is calculated on reducing terms and is usually between 6.99% and 8.99%. However, keep in mind that the payable interest would depend on your income and whether your employer is listed on the employer list approved by Citibank.

Features and Benefits for Citibank Personal Loan

  • Minimum monthly salary required – AED 8,000
  • Maximum loan amount – AED 500,000 or 20 times the salary
  • Flexible repayment tenure – 6 months to 48 months
  • Salary transfer
  • Interest Rate 
    • Flat rate of 3.8% to 4.9%
    • Reducing rate of 6.99% to 8.99%
  • Fast track approval
  • In-principal approval within 10 minutes
  • Apply for the loan online 
  • Early settlement fee – 1% of the outstanding principal
  • Arrangement fee – This one-time charge is 1% of the loan amount (minimum AED 500 and maximum AED 2,500 fees)

Documents Required

  • A copy of Emirates ID
  • Employment and income proof in terms of salary slips and bank statements for the last 3 months
  • A filled-in personal loan application form

Eligibility Criteria for Citibank Personal Loan

  • Minimum age – 21 years
  • UAE nationals and residents
  • Minimum monthly income – AED 8,000
  • Employment Tenure – At least 3 months

2. First Abu Dhabi Bank – Personal Loan for UAE Nationals

The First Abu Dhabi Bank (FAB) offers UAE nationals a personal loan of up to AED 5 million. This personal loan for UAE nationals with fast-track approval has a flexible repayment tenure of 48 months (and 60 months for personnel working in the Ministry of Defence). Personal loan in the UAE has documentation requirements to make the application process for the applicants. The minimum monthly salary requirement is AED 7,000. FAB personal loan for UAE nationals comes with comprehensive personal life insurance coverage.

Features and Benefits

  • Personal loan of up to AED 5 million
  • Flexible repayment tenure – 48 months and 60 months for personnel of the Ministry of Defence
  • Grace period of 150 days before the first repayment
  • Fast-track loan approval 
  • Comprehensive life insurance coverage
  • Minimum monthly income – AED 7,000
  • Interest Rate – Flat rate of 2.88% and reducing rate of 5.45%
  • Processing fee – 1.05% on the loan amount (minimum AED 525 and maximum AED 2,625)
  • Hassle-free documentation

Documents Required for FAB Personal Loan for UAE Nationals

  • A valid copy of Emirates ID
  • Bank statements of the last 3 months showing salary credits (in case the salary is not credited to the FAB account)
  • Salary transfer letter or salary certificate addressed to FAB
  • Clearance or liability letter (for buyout loans)
  • A filled-in application form

Eligibility Criteria for FAB Personal Loan for UAE Nationals

  • Minimum monthly salary – AED 7,000
  • Employed with a governmental or semi-governmental organisation
  • Minimum Age – 21 years
  • Completion of 6 months’ service 

Eligibility criteria for the 5.45% variable rate –

  • The applicant must be working in a company mentioned in the list of organisations approved by FAB and have a salary transfer account with the bank
  • Possess a high credit score

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To Conclude

Most banks in the UAE offer personal loans with fast-track approval. However, to accelerate the loan approval process, you should meet the eligibility criteria and provide all the necessary documents. You can apply for a personal loan for UAE nationals either offline or online via a third-party aggregator (TPA) like Policybazaar UAE. 

With the help of our easily navigable portal, you can find a personal loan for UAE nationals with fast track approval. To access the personal loan options, you can simply click on the personal loan tab on the home page and fill out the lead form. Once through, you will be directed to the quotes page with top personal loan options from the leading financial institutions in the UAE – all at the best costs in the emirates.

If you get stuck on which loan will meet your requirements, you can connect with our customer care team via WhatsApp, email, or the provided mobile number. 

If you still have any confusion about the personal loans for UAE nationals with fast-track approval or simply wish to know more, read the FAQ section below.

Personal Loan for UAE Nationals with Other Features
Personal Loan for UAE Nationals with Salary Transfer Personal Loan for UAE Nationals with No Salary Transfer Required
Personal Loan for UAE Nationals with Comprehensive Life Insurance Coverage Personal Loan for UAE Nationals with Free Bank Account
Personal Loan for UAE Nationals with Insurance Personal Loan for UAE Nationals with Free Cheque Book
Personal Loan for UAE Nationals with Repayment  

Frequently Asked Questions

Can you use a personal loan for UAE nationals to settle your credit card debt?

You can use a personal loan to settle your credit card debt and high credit card interest rates. It can be employed to consolidate your financial obligations into one loan with a lower interest rate payable.

Can you settle a personal loan for UAE nationals in advance?

You can repay the personal loan in advance. However, you would need to pay an early settlement fee which is usually 1% of the due loan amount.

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