All Type of PDF File Totally Free
Personal loan in UAE for expats can be the Best option for those who face financial hurdles in managing their expenses in a new country. Expatriates are those people who live in the UAE but aren’t the residents of the UAE. The financial institutions and banks offer a personal loan in UAE in two variants: a personal loan with salary transfer and personal loan without salary transfer.
The maximum amount one can borrow under a personal loan in UAE for expats up to a maximum of 20 times the monthly drawn salary. The amount can be borrowed with a repayment tenor of up to 48 months.
In exchange for offering personal loan in UAE for expats, banks charge an interest amount on the disbursed amount. Personal loan interest rates in UAE for expats are charged in two ways-
First Abu Dhabi bank provides quick approval FAB personal loan solutions for expats at attractive rates of interest.
| Minimum Salary: AED 7,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 2.82% | Reducing Interest Rate: 5.34% |
| Early Settlement Fee: 1.05% (max AED 10,500) | Processing Fee: 1.05% (minimum AED 525, max AED 2,625) |
ADIB personal loan for expats in UAE with high loan amounts of up to AED 1 million and flexible repayment tenures.
| Minimum Salary: AED 8,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 4.82% | Reducing Interest Rate: 8.74% |
| Early Settlement Fee: 1% (maximum AED 10,000) | Processing Fee: Nil |
This loan is offered to expat borrowers at attractive interest rates with many perks such as no processing fee and e-vouchers for Noon.
| Minimum Salary: AED 8,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 7.71% | Reducing Interest Rate:14% |
| Early Settlement Fee: 1% (max AED 10,000) | Processing Fee: 0% |
Personal financing is offered by Emirates Islamic to the expats at high loan amounts of up to AED 2 million that can be repaid over flexible tenures.
| Minimum Salary: AED 5,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 2.89% | Reducing Interest Rate: 5.40% |
| Early Settlement Fee: 1% (capped at AED 10,000) | Processing Fee: 1% (min AED 500, max AED 2,500) |
Dubai Islamic Bank offers personal loan for expats in UAE that are easy, hassle-free with high loan amounts.
| Minimum Salary: AED 8,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 4.90% | Reducing Interest Rate: 8.99% |
| Early Settlement Fee: 1% (max AED 10,000) | Processing Fee: AED 1,050 – AED 2,620 |
The personal loan of up to 2x salary overdraft is offered to Expats by the Abu Dhabi Commercial Bank with flexible repayment tenures at attractive interest rates.
| Minimum Salary: AED 5,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 3.45% | Reducing Interest Rate: 6.25% |
| Early Settlement Fee: 1.05% (max AED 10,500) | Processing Fee: 1.05% (minimum AED 525) |
With flexible terms and quick approvals, HSCB offers personal loans to the expats starting at low-interest rates.
| Minimum Salary: AED 7,500 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 3.58% | Reducing Interest Rate: 6.49% |
| Early Settlement Fee: 1.05% (max AED 10,500) | Arrangement Fee: 1.05% (minimum AED 525) |
The Commercial Bank of Dubai offers personal loan to the expat borrowers at nominal interest charges and flexible tenures.
| Minimum Salary: AED 8,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 3.03% | Reducing Interest Rate: 5.50% |
| Early Settlement Fee: 1% (max AED 10,500) | Processing Fee: 1% (minimum AED 525, max AED 2,625) |
This personal loan for Expats in UAE offered by Mashreq is designed to meet the borrowing and unexpected requirements of the salaried expats working in the UAE.
| Minimum Salary: AED 7,000 (approved companies), AED 10,000 (unapproved companies) | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 3.43% | Reducing Interest Rate: 6.49% |
| Early Settlement Fee: 1.05% (max AED 10,500) | Processing Fee: 1.05% |
Noor Bank offers personal finance to meet expat borrower’s diverse financial needs.
| Minimum Salary: AED 8,000 | Maximum Loan Tenure: 4 years |
| Flat Interest Rate: 3.49% | Reducing Interest Rate: 6.33% |
| Late Payment Fee: 2% of delayed amount (minimum AED 50, max AED 200) | Processing Fee: 1% (minimum AED 500, max AED 2,500) |
The best personal loan in UAE is the one with low personal loan interest rates, high loan amounts, and long tenors. However, in order to enjoy the lowest interest rates for a personal loan in UAE, the applicant ought to qualify for it. Mentioned below is the eligibility & required documents for personal loans in UAE for expats.
Most banks follow a standard age criterion for personal loan eligibility in UAE that may vary from one bank to another but usually it is a minimum of 21 years and a maximum of 60-65 years to apply for a personal loan for Expats in Dubai.
Providing proof of one’s minimum income is mandatory for availing a personal loan for Expats in UAE. The minimum salary requirement may vary from provider to provider; generally, it is between AED 5000 and AED 8000 for most of the banks.
The applicant’s credit history is a major criterion for personal loan eligibility in UAE. A credit report (usually obtained from the etihad credit bureau) shows the applicant’s past payment history and all of their currently active loans (if any). A good credit score means the applicant can repay the loan.
While nearly every bank offers personal loan in UAE for expats, it is impossible to find one that offers personal loans to non-residents. Personal loan for expats in UAE only can be availed if the applicants furnish their residency proof by submitting their passport with a valid UAE visa.
Once the applicant has fulfilled all the requirements for personal loan eligibility in UAE, the next step would be is to gather the required documents. The documents commonly required to complete an application for a personal loan in UAE for expats are as follows:
Some banks even allow new expats to apply for a personal loan in UAE without a salary transfer and bank statement for smaller loan amounts.