Top 5 Banks in the UAE That Offer Personal Loan for Expats

Top 5 Banks in the UAE That Offer Personal Loan for Expats
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With the rise in the cost of living in the United Arab Emirates, some expatriates are unable to save funds for their future. Also, this can lead to a financial crunch, especially during emergencies. During such hard times, a personal loan can come to your rescue. A personal loan is the easy and convenient financial instruments that enable you to meet your various monetary needs. You can use the loan amount for any purpose which is why it is referred to as a multi-purpose loan.

Well, there is a broad range of banks and financial institutions in the UAE that offer personal loan for expats. You can also choose one to tackle all of your uninvited expenses or to meet your various other financial requirements.

Top Lenders That Offer Personal Loan in UAE for Expats

ADIB (Abu Dhabi Islamic Bank)

Whether you need a fund requirement to renovate your home or for any other purposes, ADIB personal loan is an ideal option. You can opt for it to meet your financial goals. The customized ADIB personal loan for expats offers personal finance of up to 1 million dirhams for expatriates.

Main Features of the ADIB Personal loan for Expats:

Following are the key features of the ADIB personal loan for expats:

  • Zero processing fee
  • Complimentary pre-approved “ADIB Booking.com Signature card” for the 1st
  • A grace period of up to 90 days for the first installment payment.
  • Two complimentary installments postponements per year.
  • Takaful cover is offered with attractive rates.

ADCB (Abu Dhabi Commercial bank)

ADCB has designed a flexible and convenient loan option for expats living in the UAE. ADCB Offered at an attractive rate of interest, the bank provides convenient repayment tenure and a high loan amount to meet the various financial needs of its customers.

Main Features of the ADCB Personal Loan for Expats:

Given below are the main features of the consumer finance offered by the ADCB for expatriates:

  • Attractive rate of interest starting from 6.25 percent per annum.
  • 200 TouchPoints are offered for every 1000 dirham of the finance amount.
  • A maximum of 2 times salary overdraft
  • Facility of loan consolidation is available
  • Higher salary multiples
  • Complimentary credit life insurance
  • Involuntary loss of employment cover
  • Complimentary ADCB credit card
  • Easy & simple documentation

RAKBANK

With the RAKBANK personal loan for expats, you can avail of a high loan amount at a low rate of interest. Also, the bank offers flexible and convenient repayment loan tenure of 48 months for expatriates. Thus, this is one of the best options you can go for since it lets you meet your financial goals with ease.

Main Features of the RAKBANK personal loan for Expats

Below specified are the top features of the consumer finance offered by the RAKBANK for expatriates:

  • Attractive rate of interest
  • Fast and easy approvals
  • Minimal documentation
  • Top up loan after one year
  • Round the clock phone banking services
  • Loan take-over from other banks in a hassle-free manner.
  • Complimentary RAKBANK debit card along with the personalized cheque book
  • Complimentary RAKBANK credit card with a low interest rate and zero annual fee
  • The maximum finance amount for RAKBANK consumer finance is 20 times the salary.

UAB (United Arab Bank)

UAB personal loan are designed exclusively with the main aim of helping expats borrow in a hassle-free manner. Created by keeping the various needs of its customers, the UAB personal loan for expats offers a high loan amount at a low interest rate. Also, the bank has focused on making the loan repayment process as convenient as possible.

Main Features of the UAB Personal Loan for Expats:

Given below are the main features of the consumer finance offered by the UAB for expatriates:

  • High loan amount of a maximum of 2 million dirhams.
  • Low rate of interest of 5.25 percent.
  • Flexible and convenient loan repayment tenure of a maximum of 48 months.
  • Easy documentation & quick approvals
  • Complimentary credit card for the 1st
  • Buy out option available from other banks
  • Top-up & deferment facility is available
  • Revolving overdraft option is also available

Noor Bank

Noor Bank personal finance offered for expatriates is created to meet various personal requirements of its customers. Be it home renovation, international trip, child’s education, or even debt consolidation, the borrower can use the loan amount for any purpose.

Main Features of the Noor BANK personal loan for Expats:

Given below are the main features of the consumer finance offered by the Noor Bank for expatriates:

  • Pre-approval in only 30 minutes.
  • High finance amount of a maximum of 20 salary multiples
  • Low-profit rate as minimum as 3.49 percent
  • Flexible and convenient loan repayment tenure of a maximum of 48 months.
  • Free for life credit card with a wide range of benefits worth 50,000 dirhams
  • Takaful protection cover

The Final Verdict

All the aforementioned are some of the leading banks that offer personal loan for expats in the UAE. You can opt for any of them without giving a second through since all of these providers offer a high loan amount, attractive interest/profit rates, flexible repayment tenure, and various other benefits. So, choose any of them as per your suitability to meet your financial goals in a hassle-free manner.

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