Personal Loan for UAE Nationals with Salary Transfer
Finding the most appropriate personal loan that aligns with the requirements and budget of a borrower is a challenging task, given a large number of options available for UAE nationals. With the UAE being home to various financial institutions, multiple lending institutions provide personal loans with salary transfers at affordable interest rates along with various features and benefits.
To help you with your personal loan selection, we have listed below the top financial and lending institutions that offer personal loans for UAE nationals with salary transfers. Read the article to find out the eligibility criteria, features, benefits, and documents required to fast-track the personal loan application process.
Top Banks Providing Personal Loans for UAE Nationals with Salary Transfer
Without further ado, let’s have a look at the leading financial institutions in the UAE offering personal loans for UAE Nationals with salary transfer –
1. EIB Personal finance for UAE nationals with Salary Transfer
The Emirates Islamic Bank offers personal finance for UAE nationals with a financing structure adhering to the laws of Shariah concerning finance. It is a remarkable personal loan in that it provides a loan amount of up to AED 4 million with a flexible repayment period of up to 4 years.
Features and Benefits for EIB Personal Finance for UAE Nationals
Islamic financing product based on Shariah laws
Maximum loan amount of up to AED 4 million provided
Profit Rate
Flat rate of 2.89 % per annum
Reducing rate of 5.29% per annum
No extra fees or over limit fees while applying for the loan
Quick loan approval process
Insurance cover included
Can be used to pay external credit cards bills for a lower monthly payment
Provision to utilise the loan to combine debts using an easy payment plan
Documents Required for EIB Personal Finance for UAE Nationals
Completed and signed personal loan application form
Bank statements for the previous three months
Salary certificate or salary transfer letter
Eligibility Criteria
Minimum age – 21 years
Duration of service – Minimum one month or first salary transfer to Emirates Islamic Bank
Maximum age – 65 years for UAE nationals
Repayment tenure of the loan – 48 months for standard debt settlement and 300 months for special debt settlement
2. Citibank Personal Loan for UAE Nationals with Salary Transfer
Citibank is one of the renowned banks in the UAE offering personal loans with salary transfer for UAE nationals. The maximum loan amount offered is up to AED 500,000 or twenty times the borrower's salary, with a flexible repayment period ranging between 6 and 48 months.
Features and Benefits
Conventional loan product
0 % processing fee
Arrangement fees – 1% of the total finance amount
Maximum loan amount – Up to AED 5,00,000 or up to 20 times your salary
Early settlement fee – 1% of the total outstanding principal amount
Swift loan approval process
In-principal approval of the loan within 10 minutes
Online application process available
Option to top up the loan whenever required
Documents Required
Salary transfer letter
Emirates ID copy
Eligibility Criteria
Minimum age required – 21 years
Duration of service – Minimum three months and employment in any one of the companies listed with the Citibank
3. FAB Personal loan for UAE nationals with Salary Transfer
Securing a personal loan with a salary transfer from the First Abu Dhabi Bank (FAB) can be an excellent choice for UAE nationals. The bank offers a host of benefits to borrowers apart from a high loan amount of up to AED 5 million.
Features and Benefits for FAB Personal loan for UAE nationals
Grace period of up to 150 days before the first loan instalment
Quick and easy loan approval process
Maximum loan amount – AED 5 million
Repayment period – Up to 48 months (60 months in case of employees of the Ministry of Defence)
Comprehensive personal life insurance cover with the loan
Interest Rate
Reducing interest – 5.45%
Flat rate of interest – 2.88%
Reducing interest rate of 5.45% is applicable, provided the following conditions are met by the borrower –
Minimum salary required – AED 7,000
Must be employed in a company listed and approved by the First Abu Dhabi Bank
Must have a salary transfer account in First Abu Dhabi Bank
Documents Required
Salary certificate addressed to the bank or salary transfer letter
Duly filled and signed application form by the applicant
Copy of Emirates ID (original document to be shown to the bank)
Eligibility Criteria
Minimum monthly income – AED 7,000
Minimum age requirement – 21 years
Applicant must be employed in a government, a semi-government, or a recognised private organisation in the UAE
4. HSBC Personal Loan for UAE Nationals with Salary Transfer
With HSBC bank personal loans for UAE nationals with salary transfer in the UAE, you can get a loan amount of up to AED 500,000 with a flexible repayment tenure of up to 48 months. HSBC personal loans are popular in the emirates owing to their attractive features, ease of application, and more.
Features and Benefits for HSBC Personal Loan
Maximum loan amount – AED 500,000
Repayment Period – Up to 48 months
Loan approval in 10 minutes via online mode
Top-up option available
Free credit life insurance
Documents Required for HSBC Personal Loan
Emirates ID
Salary certificate
Liability letter
Passport with visa page
Eligibility Criteria
Minimum salary required – AED 10,000 per month
Age requirement – the applicant must be between the ages of 21 and 65 years
5. Mashreq Personal Loan for UAE Nationals with Salary Transfer
Mashreq bank, one of the prominent banks in UAE offering a personal loan with salary transfer, provides loan amounts of up to AED 150,000 with a loan repayment tenure of up to 48 months. Additionally, borrowers can avail of exciting bundled offers including free insurance coverage, complimentary debit and credit card, and so on.
Features and Benefits for Mashreq Personal Loan for UAE Nationals
Maximum loan amount – AED 150,000
Competitive interest rates – Flat interest rate of 3.43% and reducing interest rate of 5.99%
Minimal documentation and quick loan processing
Repayment tenure of up to 48 months
Islamic finance option available
Other benefits –
Phone banking
Free insurance cover
Complimentary chequebook
Free debit card
Complimentary bank account
Documents Required
Emirates ID
Bank account statement of the latest three months with salary credits
Salary transfer letter as per bank’s format or salary transfer as per government/semi-government
Eligibility Criteria
Salary must be transferred to the Mashreq bank account
6. Emirates NBD Personal Loan for UAE National with Salary Transfer
Emirates NBD is another lending institution known for offering personal loans to UAE nationals with salary transfer at reasonable interest rates. Borrowers can avail of up to AED 500,000 loan amount and easily repay it in affordable instalments over a loan repayment tenure of up to 48 months.
Features and Benefits:
Maximum loan amount – AED 500,000
Repayment loan period – 4 years/48 months
Both UAE nationals and ex-pats can apply for the loan
Simple documentation
Early settlement fee – 1 % of the loan amount
Arrangement fee – 1 % of the loan amount
Option to skip up to two non-consecutive instalments per year without any penalty
Reasonable interest rates – Flat interest rate of 4.86% and reducing interest rate of 8.99%
Several financial institutions in the UAE offer personal loans with salary transfer for UAE nationals. However, to ensure that you receive quick loan approval, keep in mind the eligibility criteria and the required documentation list of your preferred financial institution in mind.
Applying for personal loans with salary transfer can be quite easy if you choose Policybazaar UAE for the same. Simply visit policybazaar.ae, head to the 'Banking Products' tab, and click on the 'Personal Loans in the UAE' option. After filling out the lead form, the list of lending institutions providing loans that suit your profile will be displayed. You can sort and filter the loan products as per your requirements and extensively compare the available options. With this, you can make a truly informed choice with Policybazaar UAE.
In case you face any difficulty or confusion regarding any loan product, you can also reach out to our customer support team and get the required details and assistance at any time.
Personal Loan for UAE Nationals with Other Features
Which is the best bank to get a personal loan with salary transfer for UAE nationals?
Various lending institutions in the UAE offer personal loans for UAE nationals with salary transfer, with some of the top choices for the same including Emirates NBD, Citibank, Mashreq Bank, United Arab Bank, First Abu Dhabi Commercial Bank, and so on.
What is the loan repayment tenure for a personal loan with salary transfer in the UAE?
The bank offers a maximum tenure of 4 years (48 months) to repay your Service Ijarah loan amount.
What is the maximum loan amount I can get for a personal loan with salary transfer for UAE nationals?
As the maximum personal loan amount provided by financial institutions differs from one institution to the other, it is advisable to check for the maximum loan amount before applying.
Can I use a personal loan with a salary transfer to sponsor my child’s higher education?
Yes, you can use the personal loan with salary transfer to sponsor your child's higher education. The only thing to consider is that you must qualify for the eligibility criteria and submit the required documents for getting the loan without any difficulty.
Policybazaar UAE provides the best personal loan service!I must say Policybazaar UAE exceeded my expectations. I was looking for personal loan and this platform helped me find the best one. The loan approval was quick, and their customer service team was prompt in addressing any queries I had. I found their rates to be competitive, and the overall experience was excellent.
OlegeSharjah, June 5, 2023
★★★★★
Policybazaar UAE's customer support team is the best! I had a fantastic experience with Policybazaar.ae for taking out a personal loan. The application process was smooth, and the staff was friendly and knowledgeable. They offered competitive interest rates and flexible repayment options, which made it convenient for me to manage my finances.
ShoaibAbu Dhabi, June 5, 2023
★★★★★
Policybazaar UAE has the best customer service team! "
Policybazaar UAE provided me with a seamless experience for my personal loan. The customer service was excellent, with prompt responses and clear communication. I would recommend this digital platform to anyone seeking a personal loan in the UAE."
Troy ThorntonAjman, June 5, 2023
★★★★★
Policybazaar UAE helped me find the best personal loan product! I recently took a personal loan from ADCB via Policybazaar UAE and I am satisfied with their services. The application process was hassle-free, and the loan was approved within a short period. They provided me with various repayment options and competitive interest rates.
Vaibhav BaranwalDubai, June 5, 2023
★★★★★
Took a personal loan from Mashreq Bank via Policybazaar.ae.I had a positive experience with Mashreq Bank for my personal loan. As I took out the loan from Policybazaar UAE, the application process was user-friendly and convenient. Their concerned staff assisted me well throughout the process. I would definitely choose Policybazaar for future financial needs.
mehmoodAbu Dhabi, March 20, 2023
★★★★★
Had a great experience with policybazaar UAE!I recently Policybazaar to obtain a personal loan and was very pleased with the experience. They have a streamlined application process and provide you with the right assistance.
Sm FarhadAjman, March 19, 2023
★★★★★
Kudos to the customer representative team of Policybazaar!I had a great experience with Policybazaar UAE. They have multiple products and have a very helpful and knowledgeable staff. I was able to get a loan quickly and easily and was very satisfied with the result.
Nasr Allh Mohamed ElkhateebDubai, March 19, 2023
★★★★★
Thank you Policybazaar for helping me find the best personal loan!I recently applied for a loan through Policybazaar and was very impressed with their service. They offer plans with competitive rates and ensure a quick and easy application process.
ZEESHAN AHMEDAbu Dhabi, March 18, 2023
★★★★★
Policybazaar has a wide range of personal loan products!Policybazaar is a great option for those looking for a personal loan. The application process is simple, and the customer service is friendly. The rates are also competitive. I highly recommend Policybazaar! Thank you.
ADILDubai, March 18, 2023
★★★★★
Policybazaar made it easy for me to select the best personal loanI was confused about which personal loan I should get. Finally, I took it from ADCB via Policybazar, and the experience was great. The loan process was straightforward, and the customer support team helped me throughout the process.
Al Hilal Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Ajman Bank Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Check out Standard Chartered personal loan customer care details in-depth so that you have an idea of how to contact the bank in case of any query or concern.
Emirates NBD Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Check out Emirates Islamic Bank personal loan customer care details in-depth so that you have an idea of how to contact the bank in case of any query or concern.
Check out Finance House personal loan customer care details in-depth so that you have an idea of how to contact the bank in case of any query or concern.
Check out Mashreq Bank Personal Loan customer care details in-depth so that you have an idea of how to contact the bank in case of any query or concern.
Salary Transfer & Non-Salary Transfer Account- We will discuss in this article you would be able to decide which one is a better option for you in your financial needs and circumstances.
Finance House Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Emirates Islamic Bank Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
FAB Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Dubai Islamic Bank Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
Deem Finance Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
ADCB Personal Loan Interest Rates - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
CBD Personal Loan Interest Rate - We will provide you to one of the most popular products, offering customers the flexibility to meet their financial needs.
reviews)
.png)
