Personal Loan in Abu Dhabi

Personal loans are unsecured loans provided by banks and other financial institutions to help eligible customers meet their financial requirements. These loans do not need any security or collateral in exchange. The borrowers can use personal loan to pay for the wedding, education, travel related expenses. Borrowers can also use it for debt consolidation, fuelling in more money in their business, and a lot more.

In Abu Dhabi, the banks offer personal loans equal to up to 20 times the applicants’ monthly income. The standard loan repayment term for Abu Dhabi loans is up to 48 months. The personal loan interest rates are based on various factors like the applicants’ income, age, credit report, repayment history, the number of active loans, employment status, etc. 

Types of Personal Bank Loans in Abu Dhabi 

Here are some types of personal bank loans in Abu Dhabi based on the residency status of the applicants. They can apply for a suitable personal bank loan to meet their financial requirements.

• Abu Dhabi Loan for UAE Nationals

This is the loan type available for the people having a valid Emirates ID. The loan requirements in Abu Dhabi are more constructive and favourable for such applicants. 

• Abu Dhabi Loan for Expats

This type of loan is available for people who are not UAE residents but are staying in the country because of their jobs or businesses. Such applicants usually enjoy lower interest rates on personal bank loans in Abu Dhabi.

• Abu Dhabi Loan with Salary Transfer

These are the loans for the applicants who have their salary accounts with the same bank where they have applied for a personal loan.

• Abu Dhabi Loan without Salary Transfer

This type of loan is usually provided by the banks that do not make the applicants have their salary accounts with the same bank. They enable applicants to apply for a loan with them while having a salary account in another bank. 

• Abu Dhabi Loan without Company Listing

A few banks in Abu Dhabi have now started providing loans to people working with start-ups or non-registered companies.

• Abu Dhabi Loan for Self-Employed Professionals

These are personal loans for people who have their own businesses. Such applicants enjoy lower interest rates based on their monthly income and loan repayment history.

Documents Required for a Personal Bank Loan in Abu Dhabi

Here is the list of documents required for a personal bank loan in Abu Dhabi.

• A completely filled-out online application form
• A valid Passport with residency visa - Original and a copy 
• A valid Emirates ID - Original and a copy
• Salary certificate/Salary transfer letters addressed to the bank
• Bank Statement – showing the salary credit transactions for the last three months

Eligibility Criteria

Here are the eligibility criteria the applicants need to meet when applying for a bank loan in Abu Dhabi.

• Age: All the personal loan lenders in Abu Dhabi have set certain age criteria for the applicants. The applicants of a minimum age of 21 years and a maximum age of 65 years can apply for a personal bank loan in Abu Dhabi.
• Credit Score: The personal loan providers first check the credit history of the applicant to figure out if they are financially stable. The loan repayment history of the applicant plays a critical role in getting their loan application approved. 
• Minimum Monthly Salary: All the personal loan lenders come with a minimum monthly salary requirement for the applicants. They must meet the criteria to become eligible to apply for their chosen personal loan. 
• Employment History: One needs to be employed with one of the registered firms in UAE to apply for a personal bank loan in Abu Dhabi. They need to meet the employment criteria of the lender in order to get their loan application approved.
• Salary Transfer: Personal loan lenders in Abu Dhabi offer two types of personal loans – with and without salary transfer. Some banks need the applicants to get their salary transferred to the same bank where they are applying for a personal loan. On the flip side, other banks enable applicants to get an Abu Dhabi loan without a salary transfer.
• UAE Residency: Not all the banks in the country offer personal loans for UAE non-residents. So, the applicants need to meet the residency criteria before applying for a personal loan.

How to Get a Personal Bank Loan in Abu Dhabi?

Here are a few simple ways of applying for a personal bank loan in Abu Dhabi.

• Bank’s Website

The applicants can apply for a personal loan on the chosen bank’s website. They can simply visit the website, fill out the online application form, and submit the same with all the essential documents to complete the application. The applicants then need to wait for the bank to contact them back and share the status of their loan application. The applicants can also use the personal loan EMI calculator available on their preferred bank website to evaluate the loan instalment amount.

• Online Banking 

If applicants are existing customers with the bank they are applying for a personal loan with, they can choose online banking portals to submit their loan application. All they need to do is login to the bank’s online banking portal using their unique banking credentials and fill out the online application form by providing details like their name, age, monthly income, loan amount, and more. The applicants need to upload the required documents on the portal to complete the application process. 

• Mobile Banking

The existing banking customers can also login to their chosen bank’s mobile banking application using their banking User ID and Password. They need to go to the Requests section in the mobile application and apply for their desired personal loan in just a few clicks. The applicants can either submit the essential documents on the portal or request the bank representatives to collect the same from their doorstep. 

• Phone Banking

A few major banks in Abu Dhabi enable their customers to apply for a personal loan through phone banking. All these applicants need to do is send a unique personal loan code to the bank from their registered mobile number and apply for their chosen personal loan type. Once done, the bank representatives contact the applicant within a fixed time limit and process their application after verifying their details.

• Bank’s Branch

The applicants with no access to the internet can also visit one of the nearest branches of their chosen bank. They need to fill out the application form at the branch and submit all the required documents in the presence of one of the bank representatives. This helps them avoid any mistakes in the application and get the same approved in one go.

• Our Website

This is one of the most convenient ways of applying for a personal bank loan in Abu Dhabi. The applicants simply need to visit our website and go to the personal loan section to explore their options. All they need to do is provide their financial preferences and choose the suitable option from the shortlisted ones. The applicants can also contact our customer support helpline to know more about their options. Our banking representatives not only explain all the details but also take the applicants through the entire personal loan application process. 

Top Banks Offering Personal Bank Loans in Abu Dhabi

Here is the list of top banks that offer personal bank loans in Abu Dhabi, UAE at lower interest rates and flexible repayment terms. 

• First Abu Dhabi Bank

First Abu Dhabi Bank offers various kinds of personal bank loans in Abu Dhabi. Here is a table with different types of FAB personal loans available for people in need of funds.

Other than these different types of loans, the First Abu Dhabi Bank offers Etihad Guest Personal Loan which provides borrowers with Etihad Guest Miles in the form of loan. With this loan, the borrowers can earn Etihad Guest Miles on every new loan, top-up, or buyout. The loan enables them to earn 500 Guest Miles on the loan amount of AED 20,000. The applicants need to have a minimum monthly salary of AED 7,000 to apply for this loan. The bank applies 1.05 per cent of the processing fee on the loan amount, which is applicable on all types of FAB personal loans. 

• Abu Dhabi Islamic Bank

Abu Dhabi Islamic Bank is the best bank for people who need to get a personal loan in Abu Dhabi with a low salary requirement. The bank offers personal loans for UAE National and Expats of age 21 years or above. Here is a table with all the requirements the applicants need to meet when applying for a personal loan with Abu Dhabi Islamic bank. 

With all the other benefits, the bank enables borrowers to enjoy up to 90-days of instalment holiday before paying the first EMI. They can also avail of up to 2 instalment postponements every year while managing other financial requirements. 

• Emirates National Bank of Dubai

Emirates National Bank of Dubai offers personal loans for UAE Nationals and Expats at attractive interest rates. Here is the table with detailed information on Emirates NBD Abu Dhabi loans for the applicants.

Type of Personal Loan	Loan Amount	Loan Duration	Minimum Monthly Salary	Salary Transfer	Interest Rate
Personal Finance for expats	Finance amount from AED 25,000 to AED 2 million for expats	Flexible repayment terms up to 48 months	Minimum monthly salary of AED 5,000	Salary transfer is required	Fixed Rate - starting from 5.29% per annum (reducing), 2.81% per annum (flat)	Flexi Rate - starting from 5.24% per annum (reducing), 2.79% per annum (flat)
Personal Finance for UAE nationals	Finance amount from AED 25,000 to AED 4 million for UAE nationals	Flexible repayment terms up to 48 months	Minimum monthly salary of AED 5,000	Salary transfer is required	Fixed Rate - starting from 4.49% per annum (reducing), 2.38% per annum (flat)	Flexi Rate - starting from 5.24% per annum (reducing), 2.79% per annum (flat)

Along with attractive interest rates and flexible repayment terms, the bank offers benefits like credit life insurance, 7-day loan return option, and more for the applicants.

• Mashreq Bank

Mashreq Bank offers different types of personal bank loans in Abu Dhabi to help its customers meet their financial requirements. Here is the table to help learn more about various loan options.

Type of Personal Loan	Loan Amount	Loan Duration	Minimum Monthly Salary	Employment Term	Interest Rate
Personal Loans for Expatriates	Loan amounts are as high as 20 salary multiples to a limit of AED 1 million	Flexible repayment terms up to 48 months	AED 7,000 for listed companies and AED 10,000 for non-listed companies	Minimum 6 months of service or ‘Confirmed' with the current employer.	The interest rate to be disclosed by the bank.
Personal Loan Remit	The loan amount to be disclosed by the bank.	Flexible repayment terms up to 48 months	AED 7,000 for listed companies and AED 10,000 for non-listed companies	Minimum 6 months of service or ‘Confirmed' with the current employer.	The interest rate to be disclosed by the bank.
New to UAE / Employer	Loan amount are of up to AED 150,000	Flexible repayment terms up to 48 months	AED 7,000 for listed companies and AED 10,000 for non-listed companies	Minimum 6 months of service or ‘Confirmed' with the current employer.	The interest rate to be disclosed by the bank.
Slice Loan	A minimum loan amount AED 15,000	Repayment loan tenure of min. 3 months and up to max. 12 months	AED 7,000 for listed companies and AED 10,000 for non-listed companies	Minimum 6 months of service or ‘Confirmed' with the current employer.	The interest rate to be disclosed by the bank.
Top-up Loan for Existing Customers	NA	NA	AED 7,000 for listed companies and AED 10,000 for non-listed companies	Minimum 6 months of service or ‘Confirmed' with the current employer.	The interest rate to be disclosed by the bank.

Other than these personal loan options, Mashreq Bank offers debt consolidation loans to help its customers get rid of their dues with great ease. With these loans, the customers can consolidate all their debts and repay them by taking one personal loan.

• Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank is another bank that enables borrowers to get a personal loan in Abu Dhabi with low salary requirements. The bank offers personal loans for both UAE Nationals and Expatriates. Here is the table with all the personal loan details for the applicants.

Type of Personal Loan	Loan Duration	Salary Overdraft	TouchPoints Eligibility	Interest Rate
Personal Finance for expats	Flexible repayment terms	Up to 2X Salary overdraft with flexible eligibility criteria	TouchPoints will be earned when the Net Loan Amount is AED 10,000 or above	Interest rate starting from 5.25 per cent interest rate per annum
Personal Finance for UAE nationals	Flexible repayment terms	Up to 3X Salary overdraft with flexible eligibility criteria	TouchPoints will be earned when the Net Loan Amount is AED 10,000 or above	Interest rate starting from 4.49 per cent interest rate per annum

Along with a quick and easy application process, the bank offers various additional personal loan benefits such as free credit card, credit life insurance, loan consolidation, salary overdraft, and more for the borrowers. 

The Bottom Line

You can visit our website and go to the personal loan section if you want to explore options for bank loans in Abu Dhabi. And not just that! You can also contact our help and support team in case you need further assistance. Our professionals will explain the features of various personal loan options and help you apply for the preferred one without any hassle.