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Personal Loan for UAE Nationals with Salary Transfer

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Abu Dhabi Commercial Bank Personal Loan for Expats

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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 – 

Name of the Plan

Minimum Salary Required  (Per Month)

Flat Rate (Starting from)

Reducing Rate (Starting from)

EIB Personal finance for UAE nationals

AED 10,000

2.89 %

5.29 %

Citibank Personal Loan

AED 8,000

3.8 – 4.9 %

6.99 – 8.99 %

FAB Personal loan for UAE nationals

AED 7,000

2.88%

5.45 %

HSBC Personal loan

AED 10,000

NA

6.99 %

Mashreq Personal loan for UAE nationals

AED 10,000

3.43 %

5.99 %

Emirates NBD Personal cash loan

AED 6,000

4.86 %

8.99 %

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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
  • Minimum salary – AED 10,000 per month
Click here to Apply for this Personal Loan

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
  • Minimum salary required – AED 8,000 per month
Click here to Apply for this Personal Loan

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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
Click here to Apply for this Personal Loan

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 
  • HSBC current account is mandatory
Click here to Apply for this Personal Loan

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
  • Minimum monthly salary requirement – 
    • For approved companies: AED 7,000 
    • For unapproved companies: AED 10,000
Click here to Apply for this Personal Loan

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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%
  • Other benefits – 
    • Complimentary bank account
    • Free chequebook
    • Insurance cover
    • Phone banking
    • Complimentary debit card

Documents Required

  • Emirates ID
  • Salary transfer letter (if required)

Eligibility Criteria

  • Minimum monthly salary required – AED 10,000
Click here to Apply for this Personal Loan

Wrapping Up

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. 

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Frequently Asked Questions (FAQs)

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.

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