{"id":1842,"date":"2021-12-06T11:56:14","date_gmt":"2021-12-06T11:56:14","guid":{"rendered":"https:\/\/www.compare4benefit.com\/blog\/?p=1842"},"modified":"2024-05-11T09:49:24","modified_gmt":"2024-05-11T09:49:24","slug":"best-personal-loans-uae","status":"publish","type":"post","link":"https:\/\/www.compare4benefit.com\/blog\/best-personal-loans-uae\/","title":{"rendered":"Best Personal Loans in UAE 2024 (Updated) &#8211; Compare4Benefit"},"content":{"rendered":"<div style=\"display:none\" class=\"fm-form-container fm-theme15\"><div id=\"fm-pages12\" class=\"fm-pages wdform_page_navigation \" show_title=\"\" show_numbers=\"1\" type=\"none\"><\/div><form name=\"form12\" action=\"\/blog\/wp-json\/wp\/v2\/posts\/1842\" method=\"post\" id=\"form12\" class=\"fm-form form12  \" enctype=\"multipart\/form-data\"><input type=\"hidden\" id=\"fm_page_id12\" value=\"1842\" name=\"fm_page_id12\" \/><input type=\"hidden\" id=\"fm_current_post_type12\" value=\"post\" name=\"fm_current_post_type12\" \/><input type=\"hidden\" id=\"counter12\" value=\"10\" name=\"counter12\" \/><input type=\"hidden\" id=\"Itemid12\" value=\"\" name=\"Itemid12\" \/><input type=\"hidden\" id=\"fm_shake12\" value=\"1\" name=\"fm_shake12\" \/><input type=\"text\" class=\"fm-hide\" id=\"fm_bot_validation12\" value=\"\" name=\"fm_bot_validation12\" \/><input type=\"text\" class=\"fm-hide\" id=\"fm_empty_field_validation12\" value=\"\" name=\"fm_empty_field_validation12\" data-value=\"bd736efb144d599cf463541431fbf5c4\" \/><input type=\"hidden\" id=\"fm_form_nonce12\" name=\"fm_form_nonce12\" value=\"acf6b8c6e9\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/blog\/wp-json\/wp\/v2\/posts\/1842\" \/><div class=\"fm-header-bg\"><div class=\"fm-header image_left_right\"><div class=\"fm-header-text\">          <div class=\"fm-header-title\">            Find the Best Personal in UAE          <\/div>          <div class=\"fm-header-description\">            Find Personal Loans from a wide range of banks in UAE that best suits your needs.&nbsp;          <\/div>        <\/div><\/div><\/div><div class=\"wdform-page-and-images fm-form-builder\"><div id=\"12form_view1\" class=\"wdform_page\" page_title=\"Untitled page\" next_title=\"Next\" next_type=\"text\" next_class=\"wdform-page-button\" next_checkable=\"true\" previous_title=\"Previous\" previous_type=\"text\" previous_class=\"wdform-page-button\" previous_checkable=\"false\"><div class=\"wdform_section fm-col-1\"><div class=\"wdform_column\"><div wdid=\"6\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_text\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_text\" ><div class=\"wdform-label-section wd-width-30  wd-flex-row wd-align-items-center\">    <label  for=\"wdform_6_element12\" class=\"wdform-label\">Your Name<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-70\" ><input type=\"text\"                           class=\"wd-width-100\"                           id=\"wdform_6_element12\"                           name=\"wdform_6_element12\"                           value=\"\"                           data-value=\"\"                           title=\"\"                           placeholder=\"\"                                                       \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"4\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_phone_new\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_phone_new\" ><div class=\"wdform-label-section wd-width-30 \">    <label  for=\"wdform_4_element12\" class=\"wdform-label\">Phone<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-width-70\" ><input type=\"text\"                       class=\"wd-width-100\"                       id=\"wdform_4_element12\"                       name=\"wdform_4_element12\"                       value=\"\"                       data-value=\"\"                       placeholder=\"\"  attribute=value \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"8\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_text\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_text\" ><div class=\"wdform-label-section wd-width-30  wd-flex-row wd-align-items-center\">    <label  for=\"wdform_8_element12\" class=\"wdform-label\">Email Id<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-70\" ><input type=\"text\"                           class=\"wd-width-100\"                           id=\"wdform_8_element12\"                           name=\"wdform_8_element12\"                           value=\"\"                           data-value=\"\"                           title=\"\"                           placeholder=\"\"                                                       \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"7\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_text\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_text\" ><div class=\"wdform-label-section wd-width-30  wd-flex-row wd-align-items-center\">    <label  for=\"wdform_7_element12\" class=\"wdform-label\">Company Name <\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-70\" ><input type=\"text\"                           class=\"wd-width-100\"                           id=\"wdform_7_element12\"                           name=\"wdform_7_element12\"                           value=\"\"                           data-value=\"\"                           title=\"\"                           placeholder=\"\"                                                       \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"2\" class=\"wdform_row\"><div type=\"type_own_select\" class=\"wdform-field wd-width-100 wd-flex wd-flex-row fm-type_own_select\" ><div class=\"wdform-label-section wd-width-30 wdform_select wd-flex-row\">    <label  for=\"wdform_2_element12\" class=\"wdform-label\">Monthly Salary<\/label><span class=\"wdform-required\">*<\/span><\/div><div class=\"wdform-element-section wd-flex wdform_select wd-flex-row wd-width-70\" ><select class=\"wd-width-100\" id=\"wdform_2_element12\" name=\"wdform_2_element12\" ><option value=\"\" selected=\"selected\">Select value<\/option><option value=\"Below 3000 \" >Below 3000 <\/option><option value=\"3000-3999\" >3000-3999<\/option><option value=\"4000-4999\" >4000-4999<\/option><option value=\"5000-5999\" >5000-5999<\/option><option value=\"6000-8000\" >6000-8000<\/option><option value=\"8000-10000\" >8000-10000<\/option><option value=\"10000-15000\" >10000-15000<\/option><option value=\"Above 20000\" >Above 20000<\/option><\/select><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"9\" class=\"wdform_row\"><div type=\"type_captcha\" class=\"wdform-field wd-width-100 wd-flex wd-flex-column fm-type_captcha\" ><div class=\"wdform-label-section wd-width-100  wd-flex-row wd-align-items-center\">    <label  for=\"wd_captcha_input12\" class=\"wdform-label\">Fill to confirm if you are human<\/label><\/div><div class=\"wdform-element-section wd-flex  wd-flex-row wd-align-items-center wd-width-100\" ><img decoding=\"async\" type=\"captcha\"                           digit=\"6\"                           src=\" https:\/\/www.compare4benefit.com\/blog\/wp-admin\/admin-ajax.php?action=formmakerwdcaptcha&digit=6&i=12\"                           id=\"wd_captcha12\"                           class=\"captcha_img wd-hidden\"                            \/><div class=\"captcha_refresh\" id=\"_element_refresh12\" ><\/div><input type=\"text\"                              class=\"captcha_input\"                              id=\"wd_captcha_input12\"                              name=\"captcha_input\"                              style=\"width: 80px;\"                               \/><\/div><\/div><\/div><\/div><div class=\"wdform_column\"><div wdid=\"1\" class=\"wdform_row\" style=\"position: relative; left: 0px; top: 0px;\"><div type=\"type_submit_reset\" class=\"wdform-field wd-width-100 wd-flex wd-flex-column fm-type_submit_reset\" ><div class=\"wdform-element-section wd-flex  wd-flex-row wd-justify-content-center wd-width-100\" ><button  type=\"button\" class=\"button-submit\" onclick=\"fm_submit_form('12');\"  data-ajax=\"0\"><span class=\"fm-submit-loading spinner fm-ico-spinner\"><\/span>Get Call<\/button><button  type=\"button\" class=\"button-reset wd-hidden\" onclick=\"fm_reset_form(12);\" >Reset<\/button><\/div><\/div><\/div><\/div><\/div><div valign=\"top\" class=\"wdform_footer wd-width-100\"><div class=\"wd-width-100\"><div class=\"wd-width-100 wd-table\" style=\"padding-top:10px;\"><div class=\"wd-table-group\"><div id=\"12page_nav1\" class=\"wd-table-row\"><\/div><\/div><\/div><\/div><\/div><\/div><\/div><div class=\"wdform_preload\"><\/div><input type=\"hidden\" name=\"fm-current-page\" value=\"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/1842\" \/><\/form><\/div>\n<p>This post contains all the relevant information regarding <strong>Best Personal loans in UAE<\/strong><\/p>\n<p>Looking for some little extra money?<\/p>\n<p class=\"graf graf--p\">If this situation sounds familiar, you may want to consider a <strong class=\"markup--strong markup--p-strong\">personal loan.<\/strong><\/p>\n<p class=\"graf graf--p\">If you are in search of a personal loan, you must ensure that you have the ability to pay back the amount you borrow.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-1469 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner.jpg\" alt=\"Personal loan UAE - No Salary Transfer\" width=\"3033\" height=\"375\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner.jpg 3033w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-300x37.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-768x95.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-1024x127.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-696x86.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-1068x132.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/personal-loan-banner-1920x237.jpg 1920w\" data-sizes=\"(max-width: 3033px) 100vw, 3033px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 3033px; --smush-placeholder-aspect-ratio: 3033\/375;\" \/><\/p>\n<p class=\"graf graf--p\">Save your valuable money by paying off the loan at the earliest, if you can afford to. So plan things accordingly.<\/p>\n<p class=\"graf graf--p\">Your next big choice is going to be where to get your personal loan.<\/p>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-1851 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01.jpg\" alt=\"Infographic Uae Personal loan\" width=\"4500\" height=\"4500\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01.jpg 4500w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-150x150.jpg 150w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-300x300.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-768x768.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-1024x1024.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-696x696.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-1068x1068.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-420x420.jpg 420w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/c4b-infographics-01-1920x1920.jpg 1920w\" data-sizes=\"(max-width: 4500px) 100vw, 4500px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 4500px; --smush-placeholder-aspect-ratio: 4500\/4500;\" \/><\/p>\n<p class=\"graf graf--p\">We rounded up the most trusted and reputable personal loan companies, so you can count on getting the best rate and deal possible.<\/p>\n<p class=\"graf graf--p\">Find the <strong>best personal loans in UAE<\/strong> and compare rates and features and choose a loan based on your circumstances.<\/p>\n<p>[lwptoc title=&#8221;Table of Contents&#8221; toggle=&#8221;0&#8243; labelHide=&#8221;hide&#8221; hideItems=&#8221;1&#8243; smoothScroll=&#8221;1&#8243; smoothScrollOffset=&#8221;24&#8243; titleFontSize=&#8221;default&#8221; colorScheme=&#8221;white&#8221; backgroundColor=&#8221;#ffffff&#8221; borderColor=&#8221;#e5e5e5&#8243; titleColor=&#8221;#000000&#8243; linkColor=&#8221;#8b23e0&#8243; hoverLinkColor=&#8221;#ea3566&#8243; visitedLinkColor=&#8221;#ce1e94&#8243; useNofollow=&#8221;0&#8243;]<\/p>\n<p>&nbsp;<\/p>\n<h2><strong>Popular Personal Loans in UAE\u00c2\u00a0 2022<\/strong><\/h2>\n\n<table id=\"tablepress-7\" class=\"tablepress tablepress-id-7\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">Personal Loan<\/th><th class=\"column-2\">Interest Rate<\/th><th class=\"column-3\">Processing Fee<\/th><th class=\"column-4\">Salary Required<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">RAK Bank Personal Loan<\/td><td class=\"column-2\">3.18%<\/td><td class=\"column-3\">1% of outstanding amount<\/td><td class=\"column-4\">5000 AED<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">Citi Bank Salary Transfer Loan<\/td><td class=\"column-2\">3.73% <\/td><td class=\"column-3\"> 1% of the finance amount<\/td><td class=\"column-4\">8000 AED<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">Emirates NBD Personal Loan<\/td><td class=\"column-2\">2.69%<\/td><td class=\"column-3\"> 1% of the finance amount<\/td><td class=\"column-4\">5000 AED<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">Emirates Islamic Personal\u00a0Loan<\/td><td class=\"column-2\">3.99%<\/td><td class=\"column-3\"> 1% of the finance amount<\/td><td class=\"column-4\">5000 AED<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">United Arab Bank Personal Loan<\/td><td class=\"column-2\">2.87%<\/td><td class=\"column-3\">1% of the finance amount<\/td><td class=\"column-4\">7500 AED<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">Commercial Bank of Dubai Personal Loan<\/td><td class=\"column-2\">5.50% reducing per annum<\/td><td class=\"column-3\">1% of the finance amount<\/td><td class=\"column-4\">10,000 AED<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">Standard Chartered Bank Personal Loan<\/td><td class=\"column-2\">3.55%<\/td><td class=\"column-3\">1% of the finance amount<\/td><td class=\"column-4\">30,000 AED<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-7 from cache -->\n<h2 class=\"graf graf--h3\"><strong>Compare Personal Loans in UAE for October 2022<\/strong><\/h2>\n<p>&nbsp;<\/p>\n<p class=\"graf graf--h4\"><strong class=\"markup--strong markup--h4-strong\" style=\"font-size: 20px;\">1. RAK Bank Personal\u00c2\u00a0Loan<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"wp-image-1845 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO.jpg\" alt=\"RakBank Personal loan UAE\" width=\"300\" height=\"147\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO.jpg 1270w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-300x147.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-768x377.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-1024x503.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-324x160.jpg 324w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-533x261.jpg 533w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-696x342.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-1068x525.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/RAK_LOGO-855x420.jpg 855w\" data-sizes=\"(max-width: 300px) 100vw, 300px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/147;\" \/><\/p>\n<p class=\"graf graf--p\">For people who need a large loan,<span style=\"color: #ff00ff;\"> <a class=\"markup--anchor markup--p-anchor\" style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/rakbank-personal-loan\" target=\"_blank\" rel=\"noopener noreferrer\" data-href=\"https:\/\/www.compare4benefit.com\/loan-detail\/rakbank-personal-loan\"><strong class=\"markup--strong markup--p-strong\">RAK Bank Personal loan<\/strong><\/a><\/span> can be an ideal choice as they provide loans Up to 20 times of your salary.<\/p>\n<p class=\"graf graf--p\">This effective interest rate of<strong class=\"markup--strong markup--p-strong\"> 3.18%<\/strong> is easily one of the lowest in the market for 4 year loans.<\/p>\n<p class=\"graf graf--p\">Furthermore, RAK Bank personal loans may be a good fit for low-income borrowers, as they provide loans to individuals with salaries of at least 5000 AED, which is much lower than other banks.<\/p>\n<p class=\"graf graf--p\" style=\"font-size: 20px;\"><strong class=\"markup--strong markup--p-strong\">Summary of Rak Bank Personal Loan Features<\/strong><\/p>\n<ul>Minimum Salary Requirement is 5000 AED<\/ul>\n<ul>Flexible Loan Payment Options.<\/ul>\n<ul>\u00a0Salary transfer is compulsory to avail Rak Bank Loan.<\/ul>\n<ul>Loan Payment Period is limited to 4 years. (5 Years for Armed Forces Employees).<\/ul>\n<ul>Free Rak Bank Life Time Free Credit cards.<\/ul>\n<ul>Top up loan is available with a tenure of 1 year.<\/ul>\n<ul>1% of the loan amount is charged as the processing fee.<\/ul>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>Flat interest rate is 3.19 %<\/ul>\n<\/li>\n<\/ul>\n<p class=\"graf graf--h3\"><span class=\"td_btn td_btn_lg td_default_btn\"><span style=\"color: #ffffff;\"><a style=\"color: #ffffff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/rakbank-personal-loan\">\u00a0 Click Here to Apply for RAK BANK Personal Loan<\/a><\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p class=\"graf graf--h4\" style=\"font-size: 20px;\"><strong>2.<\/strong> <strong class=\"markup--strong markup--h4-strong\">Citi Bank Salary Transfer Loan<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"wp-image-1848 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/CITI_BANK_LOGO1.png\" alt=\"Citi Personal loan UAE\" width=\"211\" height=\"167\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 211px; --smush-placeholder-aspect-ratio: 211\/167;\" \/><\/p>\n<p class=\"graf graf--p\"><span style=\"color: #ff00ff;\"><a class=\"markup--anchor markup--p-anchor\" style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/citi-bank-salary-transfer-loan\" target=\"_blank\" rel=\"noopener noreferrer\" data-href=\"https:\/\/www.compare4benefit.com\/loan-detail\/citi-bank-salary-transfer-loan\"><strong class=\"markup--strong markup--p-strong\">Citi Bank Salary Transfer Loan<\/strong><\/a> <\/span>is likely one of the best options in the market for those who are looking for a High Finance <strong>personal loan in UAE<\/strong> and expect to be able to pay it off within 3 years.<\/p>\n<p>&nbsp;<\/p>\n<p class=\"graf graf--p\">They provide loans to salaried people without much obstacles and company listing is not a big factor unlike competitors.<\/p>\n<p class=\"graf graf--p\">For loans of 1\u00e2\u20ac\u201c4 years, Citi banks\u00e2\u20ac\u2122s effective flat interest rate is 3.73%. Citi bank also provide<span style=\"color: #ff00ff;\"><a class=\"markup--anchor markup--p-anchor\" style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/all-loan\/personal-loan-without-salary-transfer\" target=\"_blank\" rel=\"noopener noreferrer\" data-href=\"https:\/\/www.compare4benefit.com\/all-loan\/personal-loan-without-salary-transfer\"> <strong class=\"markup--strong markup--p-strong\">personal loan in uae without salary transfer<\/strong><\/a>.<\/span><\/p>\n<p class=\"graf graf--p\" style=\"font-size: 20px;\"><strong class=\"markup--strong markup--p-strong\">Summary of Citi Bank Salary Transfer Loan Features<\/strong><\/p>\n<p><span style=\"font-size: 15px;\">Minimum Salary Requirement is 8000 AED<\/span><\/p>\n<ul class=\"postList\">\u00a0Optional Insurance.<\/ul>\n<ol class=\"postList\">Flat Interest rate is 3.73%<\/ol>\n<ol class=\"postList\">Fast Approvals is the major advantage of this loan.<\/ol>\n<ol class=\"postList\">\n<li style=\"list-style-type: none;\">\n<ol class=\"postList\">1 % of the loan amount is charged as the processing fee.<\/ol>\n<\/li>\n<\/ol>\n<p><a style=\"font-family: Roboto, sans-serif; font-size: 19px;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/citi-bank-salary-transfer-loan\"><span class=\"td_btn td_btn_lg td_default_btn\">Click Here to Apply for Citi Bank Salary Transfer Loan<\/span><\/a><\/p>\n<hr \/>\n<p class=\"graf graf--h4\" style=\"font-size: 20px;\"><strong>3. Emirates NBD Personal Loan<\/strong><\/p>\n<p><img decoding=\"async\" class=\"alignleft wp-image-1472 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/Emirates-nbd_logo.png\" alt=\"ENBD personal loan transfer\" width=\"226\" height=\"135\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/Emirates-nbd_logo.png 301w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/Emirates-nbd_logo-300x179.png 300w\" data-sizes=\"(max-width: 226px) 100vw, 226px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 226px; --smush-placeholder-aspect-ratio: 226\/135;\" \/><\/p>\n<p class=\"graf graf--p\">Expats working in UAE consider applying for personal loans through<strong> <span style=\"color: #ff00ff;\">Emirates NBD<\/span><\/strong> which offers the lowest income requirement for expats, 5000 AED of any bank in our review.This loan comes up with an exclusive loan return option.<\/p>\n<p class=\"graf graf--p\" style=\"font-size: 20px;\"><strong class=\"markup--strong markup--p-strong\">Summary of Emirates NBD Personal loan Features<\/strong><\/p>\n<p class=\"graf graf--p\" style=\"font-size: 20px;\"><span style=\"font-size: 15px;\">Minimum salary requirement is 5000 AED.<\/span><\/p>\n<p>Great for Free bank account with no minimum balance required.<\/p>\n<p>Emirates NBD provides loan deferment option(can skip two non consecutive installments).<\/p>\n<p>Processing Fee is 1% of the loan amount.<\/p>\n<p>An Insurance Fee is charged on the Loan Amount.<\/p>\n<p>Insurance normally comes up with a double credit life coverage.<\/p>\n<p>Flat Interest rate is 2.69%.<\/p>\n<p><span class=\"td_btn td_btn_lg td_default_btn\" style=\"color: #ffffff;\"><a style=\"color: #ffffff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/emirates-nbd-personal-loan-for-expats\">\u00a0Click Here to Apply for Emirates NBD Personal Loan<\/a><\/span><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p class=\"graf graf--h4\" style=\"font-size: 20px;\"><strong>4. Emirates Islamic Personal\u00c2\u00a0Loan<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"wp-image-1858 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/EIB.png\" alt=\"EIB Personal Loan\" width=\"242\" height=\"95\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 242px; --smush-placeholder-aspect-ratio: 242\/95;\" \/><\/p>\n<p><strong><span style=\"color: #ff00ff;\">Emirates Islamic Personal Loan<\/span><\/strong> is an Islamic Finance which offers finance amount of Up to 2 Million AED to customers.<\/p>\n<p>&nbsp;<\/p>\n<p>They charge a lower profit rate and there is no over limit fee or any additional charges involved. The profit rate starts from 3.99%.<\/p>\n<p style=\"font-size: 20px;\"><strong class=\"markup--strong markup--p-strong\">Summary of Emirates Islamic Personal loan Features<\/strong><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 Minimum Salary Required is 5000 AED for Salary transfer Loans and 10,000 AED for Non\u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 Salary Transfer Loan.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 No Annual Fee Credit card for the first year.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 Fast and Simple Documentation, Approvals in 1 day.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 Processing Fee is 2.50% of the finance amount.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 Early settlement fee is 1% of the remaining principal amount to date.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 Islamic Financing Structure is followed.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00e2\u2013\u00a3 There is a Takaful fee involved in this loan which is 0.75% of the Finance Amount.<\/span><\/p>\n<p><a href=\"https:\/\/www.compare4benefit.com\/all-loan\/personal-loan\"><span class=\"td_btn td_btn_lg td_default_btn\">\u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0Click Here to Apply for Emirates Islamic Personal Loan\u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0 \u00c2\u00a0<\/span><\/a><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p style=\"font-size: 20px;\"><strong>5. United Arab Bank Personal Loan<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"wp-image-1864 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/United-Arab-Bank1.jpg\" alt=\"United Arab Loan\" width=\"338\" height=\"92\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/United-Arab-Bank1.jpg 430w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/United-Arab-Bank1-300x82.jpg 300w\" data-sizes=\"(max-width: 338px) 100vw, 338px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 338px; --smush-placeholder-aspect-ratio: 338\/92;\" \/><\/p>\n<p>If you don\u00e2\u20ac\u2122t fall within the income bracket of 8000 AED\u00c2\u00a0 and above, <span style=\"color: #ff00ff;\"><strong><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/united-arab-bank-personal-loan-for-expats\">United Arab Bank<\/a> <\/strong><\/span>will be your best option with the flat interest rate of 2.87% per annum.<\/p>\n<p>Buy out facility is available from other banks. This loan offers an option to postpone two installments in a year.<\/p>\n<p style=\"font-size: 20px;\"><strong>Summary of United Arab Bank Personal Loan<\/strong><\/p>\n<p><span style=\"font-size: 15px;\">Minimum Salary Required is 7500 AED.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Top Up Loan Facility is offered by United Arab Bank.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Loans up to AED 2 Million.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Free credit card for the first year.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Processing Fee is 1% of the loan amount.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Early settlement fee is 1% of the remaining principal amount to date.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00a0Loan repayment up to 4 years.<\/span><\/p>\n<p><span class=\"td_btn td_btn_lg td_default_btn\" style=\"color: #ffffff;\"><a style=\"color: #ffffff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/united-arab-bank-personal-loan-for-expats\">Click Here to Apply For United Arab Personal Loan\u00a0<\/a><\/span><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p style=\"font-size: 20px;\"><strong>6. Commercial Bank of Dubai Personal Loan<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"wp-image-1868 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/CBD3_png.png\" alt=\"Cbd Personal Loan\" width=\"300\" height=\"93\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 300px; --smush-placeholder-aspect-ratio: 300\/93;\" \/><strong><span style=\"color: #ff00ff;\">Commercial Bank of Dubai<\/span> <\/strong>allows you to borrow up to 20 times of your salary. They also provide free life insurance to cover outstanding loan.<\/p>\n<p>Competitive interest rates starting from 5.50% reducing per annum.<\/p>\n<p style=\"font-size: 20px;\"><strong>Summary of Commercial Bank of Dubai Personal Loan<\/strong><\/p>\n<p><span style=\"font-size: 15px;\">\u00a0Minimum Salary Required is 10,000 AED.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Huge Finance Amount to Expats and UAE Nationals.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">\u00a0Free Life Insurance to cover outstanding loan amount.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Processing Fee is 1% of the Finance amount.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Personal Loan buy out is possible with or without topping up the loan amount.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">CBD offers deferment options to their customers.<\/span><\/p>\n<p><a href=\"https:\/\/www.compare4benefit.com\/loan-detail\/cbd-bank-personal-loan-for-expats\"><span class=\"td_btn td_btn_lg td_default_btn\" style=\"color: #ffffff;\">Click Here to Apply for Commercial Bank of Dubai Personal Loan<\/span><\/a><\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n<p style=\"font-size: 20px;\"><strong>7. Standard Chartered Bank Personal Loan<\/strong><\/p>\n<p><img decoding=\"async\" class=\"wp-image-1820 alignleft lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2018\/09\/standard_chartered.png\" alt=\"\" width=\"282\" height=\"108\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 282px; --smush-placeholder-aspect-ratio: 282\/108;\" \/>When you really really need a quick source of fund, <strong><span style=\"color: #ff00ff;\">Standard Chartered Bank<\/span><\/strong> offers fast approval personal loan.<\/p>\n<p>&nbsp;<\/p>\n<p>You can get up to AED 2,500 cashback* post disbursal when you apply online. Interest rates starting from 3.55%.<\/p>\n<p style=\"font-size: 20px;\"><strong>Summary of Standard Chartered Bank Personal Loan<\/strong><\/p>\n<p><span style=\"font-size: 15px;\">Minimum Salary Required is 30,000 AED.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">1% of the the finance amount is\u00c2\u00a0 charged as the processing fee.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Maximum Finance Amount is 1 Million.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Loan take over facility is available.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Offers Installment Deferment Option( Twice in a year).<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Minimum balance requirement is waived during the loan period.<\/span><\/p>\n<p><span style=\"font-size: 15px;\">Top-up loan facility is available.<\/span><\/p>\n<p><a href=\"https:\/\/www.compare4benefit.com\/loan-detail\/standard-chartered-bank-personal-loan\"><span class=\"td_btn td_btn_lg td_default_btn\">Click Here to Apply for Standard Chartered Bank Personal Loan<\/span><\/a><\/p>\n<hr \/>\n<h3><strong>Basic Documents required for Personal Loan in UAE<\/strong><\/h3>\n<p>Personal loans require basic documents like:<\/p>\n<ul>\n<li>Copy of ID card issued by Govt. or Labour Card.<\/li>\n<li>Passport copy<\/li>\n<li>Salary certificate<\/li>\n<li>Emirates ID copy<\/li>\n<li>Salary transfer letter<\/li>\n<li>Bank statements from 3 to 6 months.<\/li>\n<\/ul>\n<p style=\"font-size: 18px;\"><strong>F<\/strong><strong>or self-employed:<\/strong><\/p>\n<p>In the case of personal loans for the self-employed, banks will ask for a minimum turnover or will check the average balance in your account for the last 6 to 12 months. Another factor is the length of your business. You will also need additional documents like:<\/p>\n<ul>\n<li>Memorandum of association<\/li>\n<li>Trade license<\/li>\n<li>Audited Financials<\/li>\n<li>Power of attorney of expat, clearly indicating borrowing clause (for the sole proprietor)<\/li>\n<\/ul>\n<hr \/>\n<h3><strong>Tips for Seeking Personal Loans in UAE<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-1878 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01.jpg\" alt=\"personal-loan-uae-dubai\" width=\"1984\" height=\"1038\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01.jpg 1984w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-300x157.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-768x402.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-1024x536.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-696x364.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-1068x559.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-803x420.jpg 803w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-tips-01-1920x1005.jpg 1920w\" data-sizes=\"(max-width: 1984px) 100vw, 1984px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1984px; --smush-placeholder-aspect-ratio: 1984\/1038;\" \/><\/p>\n<p>Obtaining a personal loan may seem like a tedious process featuring many potential pitfalls. Banks are experts in disguising harmful terms in fine print. Here are some tips for helping you secure the right loan:<\/p>\n<ul>\n<li style=\"font-size: 16px;\"><strong>Shop around<\/strong><\/li>\n<\/ul>\n<p>The first step is to shop around at various banks for the ideal interest rate and loan.<\/p>\n<p>Often, your regular bank will not offer you good terms as they are interested in selling expensive products to their current client base.<\/p>\n<p>Hence, by shopping around, you can gain the upper hand in finding the <strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/loan-detail\/citi-bank-salary-transfer-loan\">cheapest loan<\/a><\/span><\/strong> in the market.<\/p>\n<ul>\n<li style=\"font-size: 16px;\"><strong>Watch out for interest rate<\/strong><\/li>\n<\/ul>\n<p>There are two kinds of interest rates offered by UAE banks. These are flat-rate and reducing rate.<\/p>\n<p>A flat interest rate implies that the amount of interest paid is fixed at the time of issuing the loan.<\/p>\n<p>It does not reduce with the passage of time. This is an unconventional method used by banks to make interest rate seem lower than the reality.<\/p>\n<p>With reducing interest rates, the amount of interest gets reduced every month, based on principal repaid.<\/p>\n<ul>\n<li style=\"font-size: 16px;\"><strong>Compare and review terms and conditions<\/strong><\/li>\n<\/ul>\n<p>The terms and conditions of the personal loan are as crucial as the interest rate. Certain terms and conditions include hidden penalties and fees. So compare personal loans before applying.<\/p>\n<p>It is also vital to note the terms at which the loan can be repaid early.<\/p>\n<p>It is a fact that most bank customers for personal loans have no clue about the interest they are paying, when the repayment will take place and what the terms of the bank are for early repayment.<\/p>\n<ul>\n<li style=\"font-size: 16px;\"><strong>Be aware of additional products<\/strong><\/li>\n<\/ul>\n<p>Some of the banks register you automatically for payment or credit protection insurance as soon as you borrow funds.<\/p>\n<p>You must review the terms of the insurance to help identify whether you should stay with it or seek your own insurance policy.<\/p>\n<hr \/>\n<h3><strong>Rules about Personal Loans in UAE from the UAE Central Bank<\/strong><strong><img decoding=\"async\" class=\"aligncenter size-full wp-image-1885 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01.jpg\" alt=\"\" width=\"1984\" height=\"1038\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01.jpg 1984w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-300x157.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-768x402.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-1024x536.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-696x364.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-1068x559.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-803x420.jpg 803w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-rules-01-1920x1005.jpg 1920w\" data-sizes=\"(max-width: 1984px) 100vw, 1984px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1984px; --smush-placeholder-aspect-ratio: 1984\/1038;\" \/><br \/>\n<\/strong><\/h3>\n<p>The<strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.centralbank.ae\/\"> UAE Central bank<\/a> <\/span><\/strong>has stipulated some rules with regard to personal loans as follows:<\/p>\n<ul>\n<li style=\"font-size: 16px;\"><strong>Limit<\/strong><\/li>\n<\/ul>\n<p>The maximum quantum of personal loans has been set as twenty times the monthly salary or total income of the borrower.<\/p>\n<p>This implies that your complete personal loan eligibility is 20 times your monthly gross salary.<\/p>\n<p>For instance, if your monthly salary is AED 10,000, then you are eligible for AED 200,000 of personal loans.<\/p>\n<ul>\n<li><strong>Repayment period<\/strong><\/li>\n<\/ul>\n<p>The repayment period of personal loans must not exceed 48 months.<\/p>\n<ul>\n<li><strong>DBR (Debt Burden Ratio)<\/strong><\/li>\n<\/ul>\n<p>Deductions from regular income or salary of any borrower for all kinds of loans issued by banks or finance companies must not exceed 50% of gross salary and regular income from a specific or defined source at a time.<\/p>\n<p>This rule applies to private housing and car loans, credit cards and overdraft facilities and also personal loans.<strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/debt-ratio-calculator\"> DBR<\/a><\/span><\/strong> for retirees is fixed at 30% of pension salaries.<\/p>\n<ul>\n<li><strong>Security check<\/strong><\/li>\n<\/ul>\n<p>Finance companies and banks may only take from the customer, the number of post-dated cheques covering the installment and value not exceeding 120% of the value of loan or debit balance.<\/p>\n<ul>\n<li><strong>Loans to self-employed<\/strong><\/li>\n<\/ul>\n<p>Loans extended to companies and a sole proprietorship, secured by salaries of owners of partners will be treated in the same way personal loans are treated and will be subject to the same terms and conditions.<\/p>\n<ul>\n<li><strong>Loans for Armed Forces<\/strong><\/li>\n<\/ul>\n<p>DBR is fixed at 50%. In case banks do not adhere to such rules, the Armed Forces may transfer salary to any other bank, without referring to the bank which extended the loan.<\/p>\n<ul>\n<li><strong>Application forms<\/strong><\/li>\n<\/ul>\n<p>Personal loans can be extended as per application by the customer to be approved by the finance company or bank with a standard agreement.<\/p>\n<ul>\n<li><strong>Processing fee<\/strong><\/li>\n<\/ul>\n<p>This fee on personal loans cannot exceed AED 2500.<\/p>\n<hr \/>\n<h3><strong>Processing of Personal Loan in UAE<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter size-full wp-image-1896 lazyload\" data-src=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01.jpg\" alt=\"UAE Personal Loan Process\" width=\"1984\" height=\"1038\" data-srcset=\"https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01.jpg 1984w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-300x157.jpg 300w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-768x402.jpg 768w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-1024x536.jpg 1024w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-696x364.jpg 696w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-1068x559.jpg 1068w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-803x420.jpg 803w, https:\/\/www.compare4benefit.com\/blog\/wp-content\/uploads\/2019\/02\/PL-process-01-1920x1005.jpg 1920w\" data-sizes=\"(max-width: 1984px) 100vw, 1984px\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1984px; --smush-placeholder-aspect-ratio: 1984\/1038;\" \/><\/p>\n<p>The process of taking a personal loan is straightforward:<\/p>\n<ol>\n<li>You get in touch with a bank or finance company via any medium like a branch office, sales team, online service, etc., and express your desire to apply for a personal loan.<\/li>\n<\/ol>\n<p>2. Bank will ask for the following documents: Duly filled form of application, valid copy of passport, valid copy of visa, copy of Emirates ID, Labour Card and Company ID, bank statement of 3 to 6 months, the original letter of salary transfer.<\/p>\n<p>3. After all this information has been verified by bank representatives, it is entered into the loan system, and documents are passed onto the processing center (Physically or electronically).<\/p>\n<p>4. The officials at the processing center verify details and conduct credit checks like Etihad Credit Bureau checks, internal system checks, Central bank system checks, etc.<\/p>\n<p>5. After this, the application is forwarded to the underwriter who declines or accepts the application after considering different aspects like if you fit in the internal policies of the bank, rules of the central bank, etc.<\/p>\n<p>6.After this, the bank may place call verification at the office of your employer.<\/p>\n<p>7. When the verification has been completed, your application is sent for issuing your loan.<\/p>\n<p>8.You will be notified about loan approval and money will be credited to your account.<\/p>\n<hr \/>\n<h4><strong>Why are Personal Loans rejected?<\/strong><\/h4>\n<p>You have applied for a personal loan, but it is rejected. Some of the reasons for this are:<\/p>\n<ul>\n<li><strong>High DBR<\/strong>: If Your DBR exceeds 50%, you are refused a loan as per Central Bank rules.<\/li>\n<li><strong>Poor credit history<\/strong>: Banks can access your credit history via Etihad Credit Bureau. If you have not repaid other loans on time, your fresh loan will be rejected.<\/li>\n<li><strong>Irregular transactions in banks<\/strong>: In case your bank account exhibits irregular transactions such as full withdrawal of amount after crediting of salary, your personal loan request may be rejected.<\/li>\n<\/ul>\n<p>In sum, to get positive approval of personal loans in UAE, you must keep up a healthy credit profile, a good bank statement, and not apply for loans in more than one bank. Because of the consolidation of records of all UAE banks at Etihad Credit Bureau, banks will now have access to your credit profile and your current outstanding applications.<\/p>\n<h4><strong>Frequently Asked Questions on Personal Loan<\/strong><\/h4>\n<ol>\n<li><strong>What documents do I need to apply for a personal loan in UAE?<\/strong><\/li>\n<\/ol>\n<p>You will need to have the following documents to apply for a personal loan in UAE :<\/p>\n<ul>\n<li>Emirates id Copy<\/li>\n<li>Passport copy<\/li>\n<li>Salary certificate<\/li>\n<li>Emirates ID copy<\/li>\n<li>Salary transfer letter<\/li>\n<li>Bank statements from 3 to 6 months.<\/li>\n<\/ul>\n<p>2.<strong> Can a personal loan in UAE help me improve my credit score?<\/strong><\/p>\n<p>Yes. if you manage to build a strong payment history you can improve your credit score.<\/p>\n<p>3. <strong>What is the benefit of a personal loan over a credit card?<\/strong><\/p>\n<p>The main benefit of getting a personal loan in the UAE is that interest rates would be lower compared to a <strong><span style=\"color: #ff00ff;\"><a style=\"color: #ff00ff;\" href=\"https:\/\/www.compare4benefit.com\/credit-cards\">credit card<\/a><\/span><\/strong>. A personal loan restricts how much you can spend, preventing you from going further into debt.<\/p>\n<p>4. <strong>How much you can borrow with a personal loan?\u00c2\u00a0<\/strong><\/p>\n<p>The exact loan amount available often depends on your salary, bank, and credit score.<\/p>\n<p>5. C<strong>an I take a personal loan from two different banks in UAE?\u00c2\u00a0<\/strong><\/p>\n<p>Yes. You should have a good credit score and your DBR should be less than 50%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This post contains all the relevant information regarding Best Personal loans in UAE Looking for some little extra money? If this situation sounds familiar, you may want to consider a personal loan. If you are in search of a personal loan, you must ensure that you have the ability to pay back the amount you [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":2594,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"two_page_speed":[],"footnotes":""},"categories":[8],"tags":[87,86],"class_list":{"0":"post-1842","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-loan","8":"tag-personal-loan-dubai","9":"tag-personal-loan-uae"},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/1842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/comments?post=1842"}],"version-history":[{"count":7,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/1842\/revisions"}],"predecessor-version":[{"id":3560,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/posts\/1842\/revisions\/3560"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/media\/2594"}],"wp:attachment":[{"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/media?parent=1842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/categories?post=1842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.compare4benefit.com\/blog\/wp-json\/wp\/v2\/tags?post=1842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}