Personal Loan up to 8 times of Your SalaryPersonal Loan Approval in 9 Minutes

Personal Loan up to 8 times of Your SalaryPersonal Loan Approval in 9 Minutes

Installment as low as AED 300
No Salary Transfer Required
Flexible Repayment Options

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    Personal Loans in UAE

    Personal Loans in UAE is considered an unsecured loan where there is no need of any collateral. Personal Loan in UAE can be availed by both UAE Nationals or Expats working in UAE.  Eligibility to avail personal finance in UAE depends on various factors like monthly income, employment status, age, tenure of employment, and most importantly your Credit History.

    As per the UAE Law, maximum Personal Loan amount can be availed up to 20 times of the Monthly Salary with a maximum repayment tenure of 48 months.

    Personal Loans Interest Rates 

    Flat Rate: The calculation on a flat rate loan is based on the total principal of the loan itself and the interest rate calculated for each individual pay period. For example, a loan of AED 1,200 at a rate of 5 percent for one year would be paid on the basis of paying back AED 100 per month for 12 months. At a rate of 5 percent, the monthly interest payment would be AED 5.

    Therefore, the entire monthly payment would amount to AED 105. This would result in a total interest payment of AED 60 for the entire year.

     

    Reducing Rate: In reducing rate loans the principal amount of the loan will drop by a certain amount each month, depending upon how much is paid back on a monthly basis. Therefore, the actual amount of interest charged on a monthly basis gradually reduce over time.

    Best Personal Loans in UAEList of top Salary Transfer and Non-Salary Transfer Personal Loans in UAE for the year 2020.

    Personal Loan Provider Interest Rate Starting Minimum Salary Required Salary Transfer
    RAK Bank Personal Loan 5.99% AED 5000 Yes
    ADCB Personal Loan 6.25% AED 5000 Yes
    Dubai Islamic Bank Personal Loan 10.92% AED 3000

    Yes

     

    Deem Finance Personal Loan 15.99% AED 5000 No
    Citi Bank Personal Loan 14.00% AED 8000 No
    Emirates Islamic Bank Personal Loan 7.34% AED 5000 Yes
    FAB Personal Loan 7.99% AED 7000 Yes

    Compare Personal Loans

    Apply with UAE Cash Loans to find the best Personal Loans offer in UAE. Just fill in your requirements and set back, let us do the hard work for you to find the best deals across UAE.  Receive instant quotations from top banks of UAE. Compare interest rates, tenure, loan amount, finance charges, and a lot more from the comfort of your home. 

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