Personal Loan

Who is eligible for Personal loan .

Either a UAE national or an expatriate to be eligible for a personal loan in the UAE. Salary - Most banks require you to have a minimum monthly salary of AED 5,000 to apply for a personal loan in the UAE

What is the minimum salary for a personal loan in UAE?

Minimum Salary Requirements: Most banks in the UAE set a minimum salary requirement for personal loans, and it's typically higher than AED 3,000. This minimum can range from AED 5,000 to AED 10,000, depending on the bank and the loan amount.

What are the mandatory details for getting personal loan

  • Minimum age 21

  • AECB Report should be clear - score should be vary depends banks

  • No history of write off or settlement of loan or credit in UAE ( Some banks will accept settlement )

  • Company should be listed with bank

  • ENBD & EIB giving loan to non listed companies staffs also in the basis of policy

  • Salary should be credited every month on time

  • Length of service - Depends company and company category banks will decide -1 month 3 months or 6 months

  • No cheque bounce within 30 days - its different banks to bank

  • Salary should be credit in bank or Exchange

  • Required current account

What documents Required for personal loan

  1. Valid Passport - minimum 30 days for apply

  2. Valid visa

  3. Valid EID

  4. Salary certificate original should be issued within 30 days ( some banks 60 days also acceptable )

  5. IBAN number should provide to pull out your salary crediting details and bannk statement

  6. Others -

    a)if any bulk amount credited in your account , required proof

    b) If any cheque debit/credited in your account - required proof

    c) Salary not credited because of leave - required proof

    d) Salary advance credited - required proof why its credited ?

    e) Cancelled credit card's clearence or closing letter required if its reflecting in AECB still active

Verify identity , the person contacted is official bank staff or not . Dont send documents over phone .Beware fraud ......