5 Simple Steps to Getting an Urgent Cash Loan in Dubai

By Atul Yadav
  | Published: 28 October 2021

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Life is uncertain and so are the unexpected expenses coming up at inappropriate moments. The urgent cash loans help you meet such sudden financial requirements. Getting an urgent cash loan in Dubai is an easy task. You can get easy approval for the same if you follow the right process. 

Whether you are a UAE national or an expatriate, here is how you can get an urgent cash loan in Dubai in just a few simple steps. In this post, we have also mentioned the eligibility criteria and documents required, followed by the list of banks offering cash loans in Dubai.

Steps to Get Urgent Cash Loan in Dubai

Here are the five simple steps to getting an urgent cash loan in Dubai.

  • Explore Your Options

To get the best interest rate and other useful features on your cash loan, you must first perform thorough market research. This helps you find the best and quick cash loan options. You can visit the online portals of different cash loan lenders and find the best-fit cash loan with reasonable interest rates. The best way to find a suitable cash loan is to visit our website and check out the loans section. You can find the benefits and features of all the possible loan options based on your financial requirements and choose the one that caters to all your needs. 

  • Check the Eligibility Criteria

After shortlisting your options, you can check the eligibility criteria of cash loans offered by your chosen banks and other lenders. To get your loan application approved quickly, you must meet the eligibility criteria mentioned by the bank.

  • Fulfil the Requirements

Other than eligibility criteria, you need to fulfil various other requirements when applying for a cash loan. All the banks have a list of documents that the applicants need to submit in order to get the loan application approved. The applicants need to submit documents for identity verification, income verification, address verification and much more.

  • Apply for the Cash Loan

Once you know that you are eligible for a cash loan and have the set of required documents ready, you can go ahead and apply for a cash loan from your chosen bank. Most banks allow you to apply both online and offline. You can simply visit the bank’s website or the online banking portal to apply for the loan in just a few clicks. All you need to do is fill out the application form and submit the same with all the required documents. On the other hand, if you prefer the offline mode of application, you can visit the bank’s branch and apply for your desired cash loan.

  • Wait for the Approval

Most banks in the UAE approve urgent cash loans in a very short span of time. If all your documents are in place and the bank finds you eligible for the loan, you may get the loan amount disbursed in your account within a week. On the flip side, if your application gets rejected due to some reason, you can always make things right and apply again. The best way of applying for an urgent cash loan is by visiting our website or calling in our help and support representatives. Our help and support representatives are well-qualified and have a great knowledge of the market standards. They can help you fill the application form and submit it in minutes with the correct set of documents. This way you can save yourself from getting your loan application rejected.

Eligibility Criteria to Get Urgent Cash Loan in Dubai

Here are the eligibility criteria to apply for an urgent cash loan in Dubai.

  • Age Limit

The age of the applicants for an urgent cash loan in Dubai should be 21 years or above. For some banks, the age limit ranges between 21 and 65 years. The age eligibility criterion varies from bank to bank in Dubai.

  • Loan Amount

The amount of cash loan depends upon the bank where you are applying for the loan. Usually, the banks in Dubai offer cash loans of up to AED 5 million, depending upon the eligibility and financial requirements of the borrower.

  • Employment

As per the criteria of different banks, the applicant must work in a reputed firm when applying for an urgent cash loan in Dubai. However, there are some banks that also offer urgent cash loans for unemployed people.

  • Minimum Income

The minimum income requirement for a cash loan is different for various banks in Dubai. Most banks need the monthly income of the applicant to be AED 25,000. However, some other banks approve the loan application for individuals with a minimum salary of AED 5000. 

  • Salary Account

Most banks in Dubai want the borrowers to transfer their monthly salary to an account held in their bank.

Documents Required to Get Urgent Cash Loan in Dubai

Now that you know that you are eligible for the cash loan, let us check if you have all the documents ready.

  • Emirates ID (for UAE nationals) – Original and a Copy
  • A valid passport (for expats) – Original and a Copy
  • A valid residency visa (for expats) – Original and a Copy
  • Salary Certificate/Appointment Letter for employment verification of salaried applicants
  • Bank statements (of the last three months) for income verification of self-employed applicants
  • Salary Transfer Letter/Salary Slips (of the last three months) for income verification of salaried applicants

Banks and Financial Lenders Offering Urgent Cash Loan in Dubai

There are three ways of getting an urgent cash loan in Dubai. You can either take it from a bank, a private lender or a broker. Here is a table to help you find the best suitable loan provider.

Parameters Banks Private Lenders Brokers

Time Taken for the Loan Application Approval

Up to 7 days

Up to 3 days

Instant Approval

Loan Amount

20 Times of the Monthly Salary

Up to AED 100,000

Depends upon the value of assets or goods deposited

Paperwork

Heavy Paperwork

Moderate Paperwork

Negligible Paperwork

Credit Check

Yes

Depending upon the company’s policies

No

Interest Rates

Low

Moderate

Low

Here is the list of banks and other financial lenders who offer urgent cash loans in Dubai.

Urgent Cash Loan Providers
Dubai Islamic Bank
United Arab Bank
FIM Bank P.L.C
Doha Bank
DBS Bank
RAKBANK
HSBC
Commercial Bank of Dubai
Emirates National Bank of Dubai
Abu Dhabi Commercial Bank (ADCB)

Conclusion

Applying for an urgent cash loan in Dubai is extremely easy if your profile is fit for you to be a loan applicant. If you meet the eligibility criteria and provide the right set of documents stated by the bank, you can get your cash loan approved instantly. In case you do not get the loan you applied for in the first attempt, you can find out the reason for rejection, fix the same and apply again.

Atul Yadav
Atul Yadav

Atul has had a flair for writing ever since he started writing essays in school, which inspired him to subsequently opt for a career in writing. He loves to write about places he's been to (the list is endless) and financial products that can help people make a real change in planning their finances better.