Instant Cash Loan in 1 Hour Abu Dhabi

Are you in need of some cash but don’t want to pay high-interest rates? If so, then we have the perfect solution for you. You can get instant cash loans in 1 hour in Abu Dhabi. Various lenders offer these loans with a fantastic reputation for providing quality service.

The good news is that you don’t have to go through a lot of hassle to get one of these loans. The entire process can be completed in just a few minutes.

Instant Cash Loan in 1 Hour without Documents

Did you know that in Abu Dhabi, you can get instant cash loans in 1 hour without documents? All you may be required to provide is your Emirates ID card.

This is an excellent service for when you need cash quickly and don’t have the time to go through the hassle of getting paperwork sorted out. Several lenders provide this kind of service, such as ADCB, the National Bank of Abu Dhabi, and First Gulf Bank.

All you have to do is go into one of their branches and ask for an instant cash loan. The amount you can borrow depends on the lender, but typically it’s between 1000 and 5000 dirhams.

The process is simple: you hand over your Emirates ID card, tell the lender how much money you want, sign a few forms, and receive the money immediately.

There’s no need to wait around or jump through hoops – it’s a speedy and convenient service. Be sure to read the terms and conditions carefully before signing anything, as there may be interest rates or other fees associated with these loans.

Cash Now Loan App UAE

The Cash Now Loan app offers fast personal loan advances to customers in the United Arab Emirates. Quantix Technology Projects LLC runs the app.

You can easily download the app on Google PlayStore. When it comes to borrowing, the lender gives up to a maximum of AED 1,500 to the most qualified borrowers.

Cash Now app typically has an interest rate of 34% per year and a processing fee of 4.9 percent of the total sum borrowed.

How to Apply:

Unfortunately, salary advance loans are only available to UAE citizens.

If you’re a citizen, here is how you can apply:

Have a citizen ID card
You should have an income
Required age range is between 20 and 50 years

Urgent Cash Loan in Abu Dhabi

If you need an urgent cash loan in Abu Dhabi, you can apply for an instant cash loan from several lenders.

The application process is simple and takes only a few minutes to complete. You will need to provide basic information, including your name, address, and contact details. Once the application is approved, the money will immediately be deposited into your account.

There are many benefits to applying for an instant cash loan in Abu Dhabi. Perhaps the most obvious benefit is that you can get access to the money quickly.

Additionally, no credit checks are required, so even if you have bad credit, you can still qualify for a loan. And since there are no early repayment penalties, you can pay off the loan anytime without any extra fees or charges.

Apps Like Cash Now in UAE

When dealing with apps like Cash Now in UAE, it is essential to compare them to similar services to get an idea of what they offer. A few come close, but none quite match the scale or scope of Cash Now. These apps include Instant Cash, Quick Cash, and Fast Loan.

Each of these apps has its strengths and weaknesses. But they all fall short compared to Cash Now’s massive selection of lenders and loan amounts.

Additionally, Cash Now offers lower interest rates than any of the other apps mentioned here, making it a clear choice for those looking for quick cash in the UAE.

Online Money Lenders in UAE

Some of the online money lenders in the UAE include Cash-O-Matic, UAE Exchange Money Transfer, and Cash Central.

These money lenders use the internet to make their transactions easier for customers who are not in their geographical proximity or don’t want to go to a physical location.

Online money lending companies also provide better conditions than traditional banks with limitations on loan amounts, interest rates, and repayment periods.

The process usually takes less time because there is no paperwork involved to get your cash within 24 hours if approved by the lender’s requirements. However, online lenders still follow all local laws when operating.

So, they will check your credit history before any transaction occurs, and some may have an online application form. These companies offer loans from AED 500-AED 100,000, and the approval process is usually very quick so that you can get your cash within hours, depending on the lender’s requirements.

Urgent Cash Loan App in Dubai

If you need cash in a hurry, the best solution is to use an Urgent Cash Loan App. These apps are designed for people who need money quickly, and they offer a variety of services that can help you get the cash you need when you need it.

Some good loan apps for Dubai residents include the following:

Insta Loan – This is a good app for people who need fast cash in Dubai. When you use this service, your loan request will usually be approved within 15 minutes, and the money should be deposited into your account by the next business day. You can typically borrow up to AED500 with this company.

Cashfloat – If your credit score isn’t very high, but you still want an easy way to get some quick cash, try using Cashfloat.

Urgent Cash Loan in Dubai

If you need an urgent cash loan in Dubai, you can get it from some banks. These banks include Emirates NBD, HSBC, and Mashreq.

You can also get an urgent cash loan from some money exchange companies in Dubai. The best-known money exchange company in the UAE is Al Ansari Exchange

Instant Cash Loan in UAE

Getting an instant cash loan in UAE is relatively easy. You need to look for the institutions that offer these loans fast and efficiently. Some of them are banks and online loan apps.

These banks include:

The online loan apps are:

Conclusion

As you’ve seen, getting an instant cash loan in the UAE is relatively easy. You don’t need a lot of paperwork, and you can also borrow money online through loan apps. However, you always have to ensure that the company is licensed and registered with the UAE Central Bank to be safe.

How To Take Out A Loan Against Your Property In Dubai

Omar Mohan

Loan Against Property is a financial instrument that has been in use for many years now. It is used to borrow money by pledging the property as security. The borrower can pledge any immovable property such as land, building, machinery, and equipment against which they wish to raise funds.

A loan may be sanctioned subject to the condition that the value of the collateral exceeds the amount of debt or there are sufficient liquid assets available if required.

Loan Against Property for Expatriates in Dubai

A loan against property in Dubai and the UAE is a great way to access cash for finance purposes.

Such loans can be used for various purposes such as renovation, new construction, or even buying land.

Here’s what you need to know before applying:

Expatriates looking forward to taking out a loan against property should be UAE residents for at least two years or more.
At the same time, they must also hold valid residence visas that allow them to work in the country.
Only Emiratis and expats permitted by law can take up loans from banks based within Dubai International Financial Centre (DIFC).
The minimum amount required for applying for such loans begins with AED 30,000, whereas the maximum limit goes up to 100% of the market value of your home.
However, this will depend on your current rental income and repayment capacity.
You will also need to show title deeds or a notarized sale agreement to the lender.
The loan tenure can be customized as per your needs but is usually capped at 20 years.
Unlike mortgages, there are no restrictions on how you can use the funds obtained from a loan against property in Dubai.

You could use it for buying another property, refinancing an existing mortgage, or even consolidating other debts.

Interest rates for these loans tend to be higher than what you would get on a personal loan from a conventional bank. This is because the lenders’ risk of lending money against mortgaged assets is much higher.

However, with proper research and comparing offers from various banks, it is possible to get a good deal on the interest rates.

The entire process of applying for and getting a loan against property in Dubai can be completed in just a few weeks. All you need is all the required documents in order, which your bank will provide you with once you apply.

Loan Against Property for Citizens in Dubai

If you’re a Dubai citizen and want to take a loan against your property, there are a few things you should know.

The first step is to find a suitable lender who can offer you a loan that best suits your needs. Many lenders in Dubai, but not all of them offer loans against property.

You’ll want to make sure the lender has experience with these types of loans and is fully licensed and regulated.

Once you’ve found a suitable lender, the process will be relatively simple. You’ll need to provide some documentation, including proof of ownership of the property and ID documents.

The lender will also perform a property valuation to ensure it’s worth enough to secure the loan. If everything checks out and you’re approved for the loan, you’ll be given the money you need.

And if things don’t work out, your property will be used as collateral in case you can’t pay back what’s owed to the lender.

Dubai Mortgage for Residents

To be eligible for mortgages, expatriates and UAE nationals must demonstrate a stable income and excellent credit.

The minimum salary requirements are about 7,000 for nationals and 10,000 for expats. To be eligible for mortgages, expatriates and UAE nationals must demonstrate a stable income and excellent credit.

The minimum salary requirements are about 7,000 for nationals and 10,000 for expats. If you want to get debt on your house, the monthly repayments mustn’t be more than half of what you earn monthly.

This includes all the debt you must repay, like credit card debt, personal loans, and even auto loans. Also, applicants must be at least 21 years to apply for a mortgage loan. They must also complete the mortgage repayment by retirement age, 65 years.

Loan Against Rental Property

It is possible to get a home equity loan on a rental property as long as you qualify. Although you may borrow up to 100% of the equity in your primary house, lenders usually restrict the amount you can borrow on a rental property.

However, you have to ensure that your property is free from any encumbrance and the rent receipts are genuine.

UAE Mortgage Pre Approval

The first step in the mortgage process for purchasing a home is obtaining mortgage pre-approval.

It’s when your application is examined, and a letter or email is sent to you stating that you’ve been pre-approved and will give you the money you requested. This usually lasts 60 days.

This provides peace of mind that the lender has authorized the mortgage on particular terms, allowing you to haggle with confidence while knowing that matters can be concluded promptly.

Personal Loan in Dubai

Many banks offer this service if you need a personal loan in Dubai. These banks include but are not limited to:

Emirates NBD
Abu Dhabi Commercial Bank
Mashreq Bank
National Bank of Fujairah

Each bank has its own set of requirements to be eligible for a personal loan. For example, some banks may require you to have been working in the same company for several years or that you maintain a minimum salary of about AED 1,500.

In addition, the interest rate on these loans can vary significantly from one lender to another. So, you must shop around and compare rates before signing any paperwork.

Zero Down Payment Mortgage Dubai

If you want to get a zero down payment mortgage in Dubai, you must meet specific eligibility requirements.

The first requirement is that you must be a UAE national or a resident of Dubai with a valid residency visa. You must also have an income three times the monthly rent for the property you are buying.

Several lenders offer zero down payment mortgages in Dubai if you meet these requirements. These lenders include Emirates NBD, Mashreq Bank, and Abu Dhabi Commercial Bank.

To find out more about these lenders and the products they offer, please visit their websites or contact them directly. If you are not a UAE national or resident of Dubai, you may still be able to get a mortgage with a down payment.

Down payments for non-residents start at 20% but can be as high as 50%. Talk to your preferred lender to see what options are available to you.

Dubai Home Loan Interest Rate

The interest rate on home loans in Dubai ranges from 2.99 to 5 percent. The overall trend is that rates are going down slightly and should continue to decrease.

However, things can change unexpectedly. If you choose a fixed-rate mortgage for two years, this would be the case.

Conclusion

Overall, a loan against property in Dubai can be a great way to get access to cash quickly. However, it is vital to understand the terms and conditions of any loan you take out, as well as the risks involved. Therefore, speak with an experienced mortgage broker or banker if you have any questions about taking out a loan against your property in Dubai.

How to Invest in Mutual Funds in UAE (Step by Step)

Omar Mohan

What is a mutual fund? A mutual fund is an investment vehicle that allows investors to pool their money together and invest in stocks, bonds, and other types of assets.

Mutual funds are a great way to invest in the stock market without worrying about picking individual stocks. If you’re looking to invest in the UAE, read on for more information on getting started.

Best Mutual Funds in UAE

UAE has some of the best mutual funds where you can invest your money and expect some good returns. Check out 5 of the best options to consider investing in below.

1. Dunn Capital Management

Dunn Capital Management was launched in 1974, and they now have over a million dollars that they are managing worldwide.

The goal of the company is to give the best long-term investment option. The company wants to be a good choice for a wide range of homeowners, so it works for many people.

Dunn Capital trades in currencies such as the Australian dollar, British pound, Canadian dollar, Euro, Japanese yen, Mexican peso, Swiss franc.

The investment portfolio comprises fixed-income securities, equities, energy futures, currency options, metals futures, volatility futures, and agricultural commodities.

2. Lindsell Train Japanese Equity Fund

Lindsell Train Japanese Equity Fund manages assets of about $1 billion. The top holdings are Milbon, Kao, Nintendo, and Shiseido.

OBIC Business Consultant and many more. The minimum investment amount is $250,000. The fee you will have to pay is 0.65% per year. To start investing with Lindsell, you have to visit their website.

3. Fidelity Investment

Fidelity Investments was founded in 1946. They work with the principle “take an intelligent risk and don’t follow the crowd.”

Also, they manage about $145 billion of assets. They only deal with long-term objectives.

This fund won the Thomas Reuters Lipper Awards in Canada in 2018. The initial investment you need to get started with them is $500. The top holdings are Apple, Microsoft, Nestle, AstraZeneca, Lowe’s, and Hoya.

4. Schroder US Mid Cap Fund

Schroders is a multinational asset management firm with offices in 35 countries worldwide, including the Middle East, Europe, Asia, North America, and Africa.

It aims to provide capital growth and income by working. The firm invests at least 80% of its funds in medium-sized firms in the United States. The money management is pretty active.

5. Fundsmith Equity Fund

Fundsmith Equity Fund invests in global equities with a long-term investment strategy. The funds are managed on a concentrated basis, with 20 to 30 stocks being chosen.

Fundsmith Equity Fund’s top holdings include Microsoft, PayPal, Facebook, Phillips Morris, and Intuit. Estee Lauder, Loreal, etc.

It’s critical to have a clear image of the firm and how it invests your money before investing in particular mutual funds.

Websites such as Lipper funds, Morningstar, and ValueInvesting.com provide crucial information on firms by taking past performance into account.

Mutual Funds in UAE ADCB

ADCB is a mutual fund in the UAE that offers a wide range of mutual funds from some of the world’s best investment management firms. This company covers many asset classes, countries, sectors, and regions.

It ensures your portfolio is unique and efficient like you would want it to be. ADCB also covers developed and emerging market fixed income sectors, equity, real estate, commodities, balanced funds, and hedge funds.

All the mutual funds from ADCB in the UAE have approval for promotion by the Securities and Commodities Authority.

Mutual Funds in UAE Returns

Mutual funds returns in UAE tend to range between 12 and 20 percent. This is one of the highest returns in the world, which makes this type of investment popular among many investors.

The return on your investments can be higher if you invest directly with a fund management company. Instead of investing through an intermediary like banks or brokerage companies.

Management fees vary significantly depending on what kind of mutual funds you choose and how much money you want to invest each month/year.

Mutual Funds in India for NRI

NRIs from Canada and the United States have permission to invest in mutual funds in India, as long as they follow FEMA’s restrictions.

However, certain AMCs do not accept mutual fund applications from NRIs in Canada and the United States.

You can start with different types of funds. There are equity funds, debt funds, and hybrid funds. And you have a lot of options for these too. You also need to consider how long you want your money invested when choosing a mutual fund.

Emirates NBD Mutual Funds Review

Emirates NBD offers an open architecture funds platform that allows clients to build well-diversified, worldwide investment portfolios according to their specific risk/return needs.

Top international asset managers handle this money and are selected using a thorough in-house qualitative and quantitative due diligence procedure. The funds are watched ongoing to guarantee that they continue to satisfy our strict internal criteria.

Some of their services include:

Client profiling
Development of a portfolio
Reporting
Portfolio review

Emirates NBD Mutual Funds

Emirates NBD was established on October 16th, 2007. They became a public company on the Dubai Financial Market (DFM).

The company has different investment segments such as personal, priority, private, business, and corporate & institutional.

This mutual fund company is available for all UAE residents and international investors who wish to invest with the company and tap into all their services.

Mashreq Bank Mutual Funds

Mashreq bank is a UAE bank that offers people the opportunity to invest in mutual funds. They provide the best solution to help match your risk appetite and investment needs.

The company allows you to spread your finances in different asset classes and industry sectors.

With Mashreq bank mutual funds, you can access over 30 leading international fund houses, you have the option to choose a wide range of passive funds, and they also offer a comprehensive selection on offer.

Conclusion

Investing in mutual funds is a great way to grow your money and achieve your financial goals. The companies we’ve discussed in this post are some of the best options you can find in the UAE. They offer excellent financial investment solutions and lucrative returns on investment. Therefore, consider checking them out today to learn more about how you can start.

Best 0 Interest on Car Loans in UAE

Omar Mohan

Car loans in UAE can be a difficult task to undertake. Many companies and banks offer car loans, but each one has different interest rates and conditions. It’s essential to do your research before you go out and buy a car. This is because the last thing you want is an expensive payment plan or a high-interest rate on top of it!

In this post, we will look at some of the best options for obtaining car loans. Also, we’ll discuss what kind of financing methods exist for those who don’t have much money saved up.

Top Best Zero (0) Interest on Car Loans in UAE

UAE is one place where you can quickly get a secured loan for your personal or business needs at a competitive interest rate.

The country’s economy allows individuals to build credit ratings by making timely repayments.

Thus, enabling them to acquire highly sought-after mortgages in the future. Some of the best 0 interest on car loans in UAE include:

1. Emirates Islamic Bank

The Emirates Islamic Bank offers interest-free car loans for up to five years. You can even acquire 0 % interest on new cars offered by the bank if you are planning to buy one. The maximum repayment tenure is ten years, and there’s also no processing fee attached with this offer.

2. Abu Dhabi Commercial Bank

Another ideal place to get 0 interest on car loans in UAE is Abu Dhabi Commercial Bank. This bank offers car loans with 0% interest for a period of up to three years.

The bank also charges no processing fees, and you can avail of the loan amount ranging from AED 50,000 to AED 200,000.

3. Al Hilal Bank

Al Hilal Bank offers both new and used cars on finance at an interest rate of 0%.

You can repay the loan over 12 to 60 months, and there are no hidden costs involved.

4. Ajman Bank

Ajman Bank is one of the largest private sector banks in the UAE that offer Sharia-compliant car financing products with zero percent markup rates on a Murabaha basis.

The maximum tenure for repayment is 60 months, and the loan amount can be up to AED 300,000.

5. Bank Muscat

Bank Muscat also offers Islamic car finance with 0% markup rates on Murabaha basis.

The bank offers car loans for both new and used cars.

You can repay the loan over 12 to 84 months, and the maximum loan amount offered is OMR 100,000.

6. Dubai Islamic Bank

Dubai Islamic Bank offers Sharia-compliant car finance products with 0% markup rates on Murabaha basis. Dubai Islamic Bank also offers car loans for both new and used cars. You can repay the loan over 12 to 60 months, and the maximum loan amount offered is AED 200,000.

If you are looking for an interest-free or low-interest rate car loan in UAE, any one of these banks will be able to help you out.

The terms and conditions may vary from one bank to another, but the basic premise remains the same. You get to enjoy a hassle-free ride without having to worry about interests piling up each month.

Car Loan Interest Rate in UAE

Many factors influence the interest rate on car loans in UAE. The most important of these is the credit score of the borrower.

Lenders will look at this to determine how risky it is to lend money to the individual. Other factors that can affect the interest rate include the loan’s length, the vehicle’s age, and whether or not a deposit is required.

The average interest rate for car loans in UAE sits at around six percent. However, this can vary significantly depending on the lender and the loan terms. It’s always essential to shop around for the best deal when looking for a car loan.

Minimum Credit Score for Car Loan In UAE

The minimum credit score for a car loan in UAE is 600. However, if you have a higher credit score, there is a chance you will be approved for the loan even with slightly lower income requirements and lesser guarantor fees.

This is because a higher credit score reflects on your reliability and stability. If you do not have a good credit history, you may need to have a guarantor from UAE who has lived in this country for at least two years without any due payments or arrears against them.

Additionally, they should also ensure that their salary is above AED 4000 per month to pay off whatever amount they require in monthly installments over the time agreed upon by both parties.

Car Loan for Self-Employed in UAE

It is still possible if you are self-employed in the UAE but wish to buy a car. Some lenders offer loans to self-employed people.

However, you cannot get easy approval like salaried applicants because banks will require more documentation and proof of income from your side. This loan usually has high-interest rates that vary according to lender choices.

ADCB Car Loan Calculator

ADCB provides a car loan calculator on their website that helps customers determine the monthly installment for their car loan.

The calculator considers the down payment amount, interest rate, and loan tenure. Customers can also use ADCB’s Personal Loan Calculator to calculate the monthly installment for their personal loan.

This calculator considers the loan amount, interest rate, and repayment period. Both calculators provide an estimate of the monthly payments only and do not constitute an offer from ADCB.

Emirates NBD Auto Loan Minimum Salary

The minimum salary that you need to be earning for your application even to be considered is AED 5,000. This might not always work as a yardstick, though, because the analysis of your financial profile will be done by considering many factors.

These include credit card dues and installments against loans like car loans in UAE, along with installment payments on any housing loan which may exist currently.

Car Loan Procedure in UAE

Here is how the car loan procedure is in the UAE:

You need to have a signed AECB form
Have a passport/visa
Emirates ID
Valid quotation
Driving license
You need to have a salary certificate and provide bank statements for salaried individuals.

You need to have a trade license and provide bank statements for companies.

Conclusion

Car loans in UAE are available through banks and other financial institutions. Before taking out a loan, you should ensure that the lender offers competitive interest rates to suit your needs. You can compare different loans on various websites to determine which ones best suit your needs. Once you have determined if you can get a zero-interest car loan, the next step is to figure out if you can get a car loan in the UAE without a downpayment.

Can I Get a Car Loan In UAE Without Down Payment?

Omar Mohan

There are many banks in the UAE that offer car loans and there are always special promotions going on. However, not everyone is able to afford the required deposit when buying a car while in the UAE. In this article, we will look at whether you can get a car loan in the UAE without a downpayment.

You cannot get a car loan in the UAE without a down payment. A down payment (normally 20%) is mandatory for all Auto Loans in the UAE. However, you can get down payment support through your UAE bank using one of their credit cards at the bank’s discretion. You can also purchase a car on a personal loan which does not require a down payment.

Let’s discuss further how you can do this.

What Is a UAE Auto Loan?

An Auto Loan is basically a loan provided by any financial institution (e.g a bank) in order to purchase a vehicle (e.g a car). With an Auto Loan, you are not paying on the vehicle purchase price plus interest over time.

How Much Downpayment Is Required In The UAE For A Car?

Normally, a 20% downpayment is required by most banks to purchase a car in the UAE.

Can I Get 100% Financing On A Car Loan In UAE?

It is possible to get 100% financing on a car from some banks in the UAE. However, the more popular concept of car finance in the UAE is paying 80% of the car’s value as the loan and 20% as deposit. However, there are many banks that offer 100% financing options for an auto loan in the UAE.

There are some banks as well that offer a 1% downpayment for the purchase of vehicles. Check out this list of auto loan providers in Dubai to learn more.

Personal Loans and Downpayments In The UAE

An easy way to purchase a car in the UAE is to purchase the vehicle on a personal loan. A personal loan is an unsecured loan, meaning no deposit or collateral is required. you do not have to give a down payment with personal loans.

While you can get a cheap personal loan in the UAE, the fact is cars are generally not cheap. Personal loans are really based on your salary. For example, you can get a personal loan on a 4000 salary or a personal loan on a 5000 salary.

Can I Do A Partial Payment To My Car Loan?

Yes, you can do a partial settlement on your car loan from most banks. However, there will be an additional settlement fee which is 1% of the principal outstanding in most cases.

Who Can Get A Car Loan In UAE With A Downpayment?

The normal minimum downpayment of 20% is required for Salaried Customers. However, clear loans start at 0% Down Payment for All businesses & Self Employed Customers.

Are Salary Transfers Required For A Car Loan?

In general, most banks do not require a salary transfer for salaried customers to get a car loan.

How Does The Process Of Purchasing A Car With Downpayment Work?

When purchasing a car on a 20% down payment, this means consumers will only finance 80 percent of the new or used car’s value. This of course implies that a 20 percent down payment is required.

Buying A Used Car With 20% Downpayment

Some banks will allow you to purchase a car with a 20% down payment. In this case, the down payment is generally paid directly to the bank. The bank in turn settles the full value of the used car with the used car dealer.

However, a few banks in the UAE ask used car buyers to settle the 20 per cent down payment directly with the seller. Once that is done, the bank will settle the remaining 80 per cent of the car’s value.

How Used Car Dealers Offer 0% Downpayment In The UAE?

some dealers are smart about this and offer 0 % downpayment by simply discounting the invoiced price of the car via a promotion.

Top Car Loan Providers in UAE

The following are the top car loan providers in UAE with their respective downpayment percentages:

ADCB Bank Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: Fixed 1.99% p.a. and reducing 3.65% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefits: 50 Touchpoints earned on every AED 1000 of the loan amount
Finance to Down Payment Percentage: 80%-20%

ADIB Bank Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: Fixed 2.75% – 4.49% p.a. and Reducing 4.75% – 8.25% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefits: Deferment for one yearly instalment and a grace period of 90 days for the first instalment.
Finance to Down Payment Ratio: 80% – 20%

Emirates NBD Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: Fixed 1.99% p.a.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 4000 to AED 15000 (case basis)
Additional Benefits: Free credit card. Green loan for electric cars, 90 days deferment period on the first payment.
Finance to Down Payment Ratio: 80% – 20% for individual loans, 75%-25% for sports car, 90%-10% for companies

First Abu Dhabi Bank (FAB) Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: Fixed 1.99% p.a. for UAE nationals / 2.15% p.a. fixed for ex-pats (salaried employees). 2.99% p.a. flat and 5.62% p.a. reducing for self-employed.
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 8000 for salaried individuals and AED 25,000 for self-employed
Finance to Down Payment Ratio: 80% – 20%

Mashreq Bank Car Loan

Maximum Car Loan Amount: AED 500,000
Car Loan Interest Rates: 3.45% p.a. flat rate and 6.31% p.a. reducing rate
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Additional Benefit: Free for life credit card
Finance to Down Payment Ratio: 80% – 20%

ANRAKBK Car Loan

Car Loan Interest Rates: 1.99% p.a. flat rate for salaried applicants
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 5000
Finance to Down Payment Ratio: 80% – 20%

Emirates Islamic Bank Car Loan

Maximum Car Loan Amount: AED 1.5 million
Car Loan Interest Rates: 1.80% p.a. flat rate and 2.95% p.a. reducing rate
Maximum Repayment Tenure: 60 months
Minimum Salary Required: AED 8000
Additional Benefit: Free Emirates Islamic current account
Finance to Down Payment Ratio: 80% – 20%

HSBC Car Loan

Maximum Car Loan Amount: AED 600,000
Minimum Salary Required: AED 10,000
Additional Benefit: 0.15% discount on flat interest rates for hybrid vehicles and 0.25% off on flat interest rates for full electric vehicles
Car Loan Interest Rates starting from 1.99% p.a. flat rate
Special flat Interest rate for TESLA – 1.74%
Reduced monthly EMIs with easy Balloon repayment options

What Documents Are Required To Get An Auto Loan In the UAE?

Signed bank form
Passport-visa
Emirates ID
Valid quotation
Driving license
Salaried individuals
Salary certificate
Bank statements
Self-Employed individuals
Trade license
Bank statements
Companies
Trade license
Bank statements
List of authorized signatories on company behalf (wherever applicable)
MOA

Who Is Eligible For A Auto Loan In The UAE?

The eligibility criteria to apply an Auto Loan are as below:

Salaried Segment
Self Employed / Companies
AED4K (ALE with Salary Transfer or Non ALE with Salary Transfer and good CASA score)
AED 5K (Non ALE, Salary Transfer or ALE, Non Sal Transfer)
AED 7K (Non ALE & Non STL) or Private deals)
AED 15K (Used sports cars)
Min Average Balance of AED 20K

Once you have determined if you can get a car loan in the UAE without a downpayment, the next step is to figure out if you can get a 0 interest car loan.

Dunia Finance Review

Omar Mohan

Dunia Finance LLC was a company based in Dubai, UAE. It changed its name from
Dunia Finance LLC to Deem Finance LLC in 2019. The Company’s principal activity is providing customer-centric financial solutions to its target customer segments.

Here is an overview of some of the essentials about the company.

[wptb id=917]

Financial Position of Company

As per the report of the independent financial auditor Ernst & Young

The Company has incurred a net loss of AED 125,578 thousand during the year ended 31 December 2019.
It’s accumulated losses amounted to AED 827,851 thousand which exceeds 50% of its share capital.
They state that

“these factors indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern.”

The Directors however believe the Company will generate sufficient cash flows from its operations which will enable the Company to meet its financial commitments and liabilities for the foreseeable future. Our report is not qualified in respect of this matter.
Read the detailed report here.

Why the change in name?

Img Src: https://deem.io/

The popular opinion is that Dunia Finance LLC due to some of its high-handed practices with customers was gaining a very negative reputation in the market. To reinvent themselves they have changed their name to Deem Finance LLC. They are one and the same company.

Read on to know what are people’s opinions about Dunia Finance LLC!

What do people say about Dunia Finance LLC?

Dubai Finance Review by Employees:

The company promotes the overall skill development of its employees.
The work culture of the company is also more than satisfactory, as it supports work-life balance and looks after its employees in every situation.
The salary and other benefits offered by the company to its employees are also above average.
The job security and the career growth provided by the company is though above average but not as satisfactory as its other features.
The company provides facilities like soft skill training, international relocations, health insurance, and a great cafeteria as a cherry on top.

Dubai Finance Review by Customers:

The has received mixed reviews from its customers.
A number of customers have complained of the high-interest rates of 19.99% to 34.5% it charges on its loans. They have also companied of the face of the harassment by them on even a slight delay of any payments, or non-updating of payments made even after months of follow up.
However, there is a group of satisfied customers. They praise the company for its relatively simple allocation of loans without any stringent requirements. They are a godsent gift especially as this is one of the customers last resort after being declined by major banks. Minimal paperwork, pleasant and helpful staff make the journey easy for its customers.
Read detailed reviews here.

Gender-based Dunia Finance Review

The women employees of the company have rated it below average by giving it 2-stars, but they are also happy with the skill development, salary and other benefits that the company offers.
Comparatively, male employees are happier than women in the company; they have given it 4-stars and are satisfied with the work culture along with the skill development.

As analyzed, our final stand on Dunia Finance review or Deem Finance Review is that one should use this resort for loans, etc. Only when declined by the banks. It is a company that is satisfactorily good towards its employees but needs to work a little to augment its customer services so that all of its customers remain happy and satisfied by investing their in trust in Dunia Finance LLC.

Other Banks and Financial Companies

Biggest Banks in the UAE
Best Banks in The UAE For Expats

Overview of the Best Banks in Abu Dhabi

Omar Mohan

The United Arab Emirates has established itself as the Middle East’s financial center. It has drawn shareholders and businessmen from all across the world as a result of its attractive and profitable market climate, making the UAE an economic gateway. The Central Bank of the United Arab Emirates regulates and supervises banking institutions in the UAE. There are 23 national banks and 28 international banks in the nation, in addition to the increasingly rising Islamic banks.

Despite the uncertainties and ongoing oil price fluctuations which have diminished investor trust, the banks have continued to expand in respect of earnings and total revenues.

Best Banks in Abu Dhabi

Let us check the Best Banks in Abu Dhabi for your financial needs.

1. First Abu Dhabi Bank

The First Abu Dhabi Bank is the UAE’s biggest equity-based bank, providing customers with a wide range of customized solutions and goods as the best bank in Abu Dhabi.
They are more likely to have a customer-friendly banking environment and promote the financial development of their investors.
It has a global network of locations all over the world.
It provides a variety of personal loans. FAB also offers a personal loan to individuals who are coming to the UAE or looking for work. The rate of interest on a FAB personal loan begins at 1.62 per cent, and a base salary of AED 7K is expected to register.
It provides 19 credit cards with a variety of advantages to meet the needs of every consumer.

2. Emirates NBD

The Emirates NBD’s is a combination of Emirates Bank International (EBI) and the National Bank of Dubai (NBD) since 2007. This is one of the world’s biggest alliance, combining the UAE’s second and fourth biggest banking institutions to create a banking entity with the GCC’s greatest capital structure.
It provides 15 credit cards, each of which caters to a different set of customer requirements.
It provides six different personal loans, each tailored to a different type of borrower. Personal cash loans, personal loans for self-employed people, personal loans for emigrants, and personal loans for UAE citizens are just a few mentions.

3. Abu Dhabi Commercial Bank (ADCB)

ADCB is one of the top three banking multinational corporations in the UAE.
Abu Dhabi Investment Council, which deals exclusively with the Abu Dhabi administration controls 58 per cent of the company.
Treasury, banking, and structuring are all handled by ADCB in Abu Dhabi, making the bank extremely attentive to customer requirements.

4. Emirates Islamic Bank

Emirates Islamic Bank is one of the best banks in the UAE.
They offer goods and facilities that are advantageous to both consumers and shareholders and is thus one of the best bank’s in Abu Dhabi.
It has nine specific credit cards with various rewards such as rewards points, skywards miles, and restaurant coupons.
It provides all banking services based on Islamic values. Many of the goods come with a long list of advantages.

The banking industry in the UAE is growing and contributing dramatically to the country’s growth, as well as providing seamless and exceptional solutions to its clients, by superimposing a huge foothold through world-class operations.

Honorable Mentions

Dunai Finance, while not a full-fledged bank offers certain banking services like loans and credit cards.

Important Things to Consider before Securing a Mortgage in Dubai

Omar Mohan

The local mortgage market in Dubai is growing that gives a great opportunity to investors to buy properties in Dubai. Expats need to understand the important aspects of getting a mortgage in Dubai before they take the plunge. It’s a tough decision, but important one if you want to avoid making costly mistakes. This blog post will present the foreign and local investors with key factors to think about before purchasing a property in Dubai.

Get the Best Mortgage in Dubai with These Tips

1. Be Ready with the Initial Investments

Getting a mortgage can be an expensive endeavor. Some initial fees are necessary to pay for securing a mortgage.

Usually, these fees include transfer fees of 4% and mortgage registration charge of 0.25%. Apart from them, there’s real estate commission of 2%, and 1% loan establishment fees included. Therefore, an investor has to keep 5 to 7% of the total property cost in hand to proceed with the mortgage.

2. Decide Your Mortgage Method in Dubai- Fixed or Variable

There are two ways to secure a mortgage – a fixed rate and a variable rate. Being an investor, you should predominantly decide the mortgage option before transferring the down payment.

In the case of a fixed-rate mortgage, the rate of interest remains the same during the tenure of the mortgage. When it comes to variable-rate mortgages, the rate of interest gets changed periodically according to the Emirates Interbank Offered Rate (EIBOR). An experienced mortgage advisor will help you make the right choice for the mortgage method.

3. Get Your Mortgage in Dubai Pre-Approved

Getting your mortgage amount pre-approved from the bank will help you find the best properties at the defined price. Investors can either get the mortgage directly pre-approved by the bank or through a mortgage advisor. Approval from the bank beforehand showcases that one is eligible for securing mortgages in Dubai

Usually, a down payment of 10% is required as per the sales agreement. Of course, no one wants to get refused by a financial institution at the last minute. So, ensure to apply for pre-approval for mortgages.

4. Keep all the Documents Ready for Speedy Mortgage Proceedings

A lot of paperwork is involved in the mortgage procedure. However, it can vary from bank to bank. The foreign investors should have their copy of their passport, visa, Emirates Identity Proofs. Additionally, a salary certificate from your employer, pay slips, last 6-months bank statements, and recent credit card statements are required for mortgage documentation. A local investor has to show evidence of address, a tenancy agreement, or a DEWA bill.

5. Consider Taking Help from a Mortgage Broker

Seeking professional assistance from a mortgage broker will help you get your mortgage in Dubai without any headache. They understand the market and your needs well. You can look for mortgage brokers online and hire the one under your budget.

No More Hassles & Extra Costs for Mortgages in Dubai

Dubai is a hotspot for property buyers and investors, but it can be tough to navigate the laws. The above points will help you purchase a new property in Dubai without any hassles and additional costs.

All That You Need To Know For Personal Loan in UAE on 4,000 Salary

Omar Mohan

Personal loans are an easy way out when it comes to tackling situations that need a lot of financial assistance. Whether it’s the consolidation of debts or traveling expenses that you have to look after, personal loans can always help.

It is a very helpful financial tool but, to avail it, one must be eligible to apply as per the lender’s required criterion. So, let’s check out what all is needed to obtain a personal loan in UAE if your salary is 4,000 AED.

How to get a personal loan in UAE on a 4,000 salary?

Banks in UAE have been reluctant to provide monetary aid in the form of loans to low-salaried people, but with the increasing demand, there has been a more positive response from the banks, as they have agreed to offer personal loan(s) to people earning a lower salary of AED 4,000 also.

Eligibility Criterion

The eligibility criterion of each bank differs from one another; however, the generic requirements are as follows:

Minimum age: 21 years.
Maximum age: 60 years for UAE nationals, 65 years for expatriates.
The applicant must be salaried or self-employed.

Provider of personal loan in UAE on 4,000 salaries:

There are very few providers of personal loans in UAE on 4,000 salary who offer to help people in need. One of them is:

Dubai Islamic Bank

One of the most progressive Islamic institutions in the world, it renders unparalleled services to its customers that come paired with its emphasis on innovation and growth. The utterly innovative product of Dubai Islamic Bank is its personal loan that can be availed with a low salary of AED 4,000 also. It gives the applicants the freedom to avail loan amounts as high as AED 4,000,000 for Emiratis and AED 2,000,000 for expatriates at an interest rate of 11%. The other features that come along with the loan amount are as follows:

Quick and hassle-free process.
Minimal documentation required.
Minimum salary required can even go down to AED 3,000.
Flexible repayment structure of up to 48 months.

Who can apply for this loan?

Those working in a DIB-approved company can transfer theie salary to DIB.
Those working in a DIB approved company who can transfer the salary to any other bank
If not working in a DIB-approved company, the applicant must transfer salary to DIB or any other bank.
Applicant must be a customer of DIB Investment Fixed Wakala Deposit.

What are the documents required?

UAE ID Salary Transfer Certificate from the employer for Emiratis
A copy of passport and residence VISA along with the UAE ID Salary Transfer Certificate from the employer for Emiratis
Bank statement security cheque & AECB consent form

How to apply for this loan?

The application for obtaining a personal loan from Dubai Islamic Bank is really easy. One can apply via an online portal or by physically visiting the bank’s branch.

So, go right ahead and start your loan application procedure.

Other Important articles in this series:

How to get a personal loan in UAE without company listing
Personal Loan in UAE with 5000 Salary a Month
Personal Loan in UAE with 3000 Salary a Month
Personal Loan in UAE with 2500 Salary a Month

Investment Companies in Dubai

Omar Mohan

Investing in investment companies is a smart way of watching your money grow. Notwithstanding the fact, one needs to be careful and analyze the market trends before putting in the hard-earned money.

Even though not everyone has access to large private banks in Dubai, and other large Dubai financial companies, you can still take advantage of the options offered by investment companies.

Best Investment Companies in Dubai

Let us have a look at the list of Investment Companies in Dubai, which has maintained its ranking amongst the best of companies to watch your money grow.

1. AL MAL CAPITAL PSC

Established in the year 2005, the company ranks amongst the finest investment companies in town. The services offered include:

Corporate Advisory
Investment Management
Direct Investments

2. DAMAN INVESTMENTS PPC

A 1998 venture, the company deals with offering financial solutions for investments and the services offered are:

Asset Management
Securities Brokerage
Investment & Advisory
Wealth Management

3. EMIRATES FINANCIAL SERVICES

Founded in the year 1976, Emirates Financial Services is one of the oldest financial service providers in Dubai. The bank provides the services of:

Fixed Deposit
Bank Guarantee
Retirement Planning
Bonds and Mutual Funds

Types of Investment Companies

Understanding the type of company is an important homework that one needs to accomplish before investing. Investment companies are divided into three broad categories, namely

1. Closed-Ended Fund

It is a portfolio comprising pooled assets that raises a pre-determined amount of funds via initial public offering(IPO), followed by enlisting shares for trading.

2. Open-Ended Fund

Also known as Mutual Funds, this incorporates a diversified portfolio comprising money pooled from various investors which tends to issue an infinite number of shares.

3. Unit Investment Trust(UIT)

Such investment type offers a fixed portfolio, mostly of bonds and stocks, as redeemable units to investors for a specified timespan.

A bunch of benefits await when one invests via investment companies and so do a few risks. Let us look at the risks and benefits of investing.

Reasons for investing in Investment Companies in Dubai

One should definitely consider investing via investment companies for the following reasons:

One prefers a wide range of investments handled by professionals.
Intends to spread risks, allowing one to have a diversified portfolio.
One considers investing with a small amount of money, intended for savings and investments.
Looking for substantial growth in the invested amount over the long term.

Risks of investing in Investment Companies

But as lucrative as these perks sound, they come along with a bunch of associated risks. The investment companies face this challenge of gearing, which makes the market very uncertain.

Another risk associated is the factor of discount, which indicates that if the discount widens, then the investor might have to suffer a huge loss in the invested value.

Hence one should reconsider investing in these companies if:

One isn’t in a state to afford to lose their invested amount.
One is seeking a source of guaranteed income.
One isn’t ready to see a declining curve for the assets invested in.

In case one feels uncertain regarding the investments, one should always seek the guidance of a personal financial advisor, which again, is something offered by most of the investment companies.

Investing your hard-earned money is a huge decision and where you invest is a question that requires deep analysis and research. Don’t jump in blind just at the promise of huge returns.

How To Get A Cheap Personal Loan In The UAE?

Omar Mohan

Even with many other credit facilities available in the UAE market, till date personal loans hold the edge over many other credit options. A personal loan not only consolidates any kind of debt but also does not require any collateral to acquire it, making it easy and problem free to utilize.

Top 5 Banks offering the Cheapest Personal Loan in UAE

Here below, is a consolidated list of five banks that provide the cheapest personal loan in uae.

1. EMIRATES ISLAMIC BANK PERSONAL LOANS

A very low Interest rate of 2.55% for UAE nationals and 3.03% for expats.
They offer a reducing rate of 4.79% p.a. for UAE Nationals and 5.69% p.a. for Expats.
Loan amount up to AED 4 Million (UAE Nationals) & AED 2 Million (Expats)
The Emirates Islamic Bank provides a hassle-free procedure for personal loans to anyone with a minimum salary of AED 10,000 per month with zero insurance fees.
They also have an attractive overdraft facility available which provides you with instant cash support up to 2 times your salary. You are free to use the amount as per your convenience via debit card, cheques, online transfers or standing instruction payments.
Lowest Interest are offered to persons willing to transfer their salary to the bank.

2. ADCB PERSONAL LOANS

Interest rates start from 6% p.a.
They require an assignment of your salary and end of service benefit (gratuity) in favor of ADCB.
They promise to process the loan within 3 days of completing the formalities from your end.
With a minimal monthly salary of AED 6000, ADCB personal loans provides an array of attractive policies and plans with flexible payment methods and a long repayment period.
They also provide services like free ADCB credit cards and free credit life insurance.
They also have the overdraft facility of two times the salary available.

3. CITI BANK PERSONAL LOAN

Citi bank personal loan require a minimum monthly income of AED 10,000.
Interest rates are between 6.99% to 15%.
They offer loan tenure up to 48 months without any collateral and a minimum need for documentation.

4. FIRST ABU DHABI BANK

The FAB personal loan plans begin at a monthly earning of AED 7000.
The minimum interest rate is 2.09%.
By providing flexible repayment terms and comprehensive personal life coverage plans, the FAB is one of the largest banks providing cheap personal loans in UAE.

5. DUBAI ISLAMIC BANK PERSONAL FINANCE

Offering exceptional profit rates from 11% to 20%, the Dubai Islamic bank accepts one of the lowest monthly salary criteria of just AED 3000.
With up to 120 days of the first installment payment, minimal documentation procedures, and a chaos-free process of plans and policies, the Dubai Islamic bank offers one of the best personal loan plans.

Common Documents Required for most Loans

Most of the loans require the following documents before processing your loan. Some banks may also have some unique requirements.

Completed Loan Application.
Valid Passport and Visa.
Previous 3 months bank statement.
Recent salary certificate.
Salary transfer letter.
Details of existing loans and liabilities.

Above here is just am over view of some of the cheapest personal loans in UAE, providing just a short synopsis of the varied features each bank has to offer in their personal loan programs. We have tried to include as many important features from each bank in a minimalistic way.

Best Best Banks For Personal Loan in UAE with a 5000 Salary

Omar Mohan

Best Personal Loan in UAE for salary of 5000

There are multiple occasions in life when only savings can’t work, and this is where personal loans can help you fulfill your dreams.

Offered by banks, credit unions, or private lenders for personal purposes, you can repay loans over time. But, the lender’s minimum eligibility criterion differs from one another. So, let’s check out the best providers of personal loan in UAE for 5,000 salary.

Best Loan Providers for 5000 AED salary

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This was a glace at the various loan provides. Let us now explore them in details and look at the top features and benefits of choosing them.

1. Finance House Personal Loan

Finance House is one of the best banks where you can avail a high loan amount easily. The benefits of choosing it are:

Low rate of interest
Flexible repayment tenure
Free for life credit card
Customizable loan(s)
Available to Emiratis as well as expatriates
Hassle-free with minimal documentation

Their simple and easy products offer the highest customer satisfaction in the category of personal loan in UAE on 5,000 salary.

2. Deem Finance Personal Loan

Deem Finance is one of the best banks that offers the attractive interest rate with flexible repayment tenure. The perks of reaching out to them are:

Quick loan approval
Flexible repayment tenure of up to 4 years
Minimal paperwork
Rate of interest ranging from 15.99% to 34.99%

Deem Credit Life Plus safeguards your loan’s outstanding in unfortunate events of severe illness/death to render sheer comfort and their affordable monthly installment plans give an extra edge.

3. Dubai Islamic Bank Personal Loan

Dubai Islamic Bank’s personal loan comes packed with a wide range of benefits like:

High finance amount of AED 4 million for Emiratis and AED 2 million for expatriates
Flexible repayment tenure of maximum 48 months
Easy and quick approvals
No hidden fees/charges

4. Emirates Islamic Bank Personal Finance

Emirates Islamic Bank lets you meet your needs with multiple advantages like:

High loan amount of AED 4 million for Emiratis and 2 million for expatriates
Only one month’s salary transfer required
Low processing fee
Shariah-based products
Murabaha structure followed
Free credit card

It has secured a special place in the category due to its low-profit rate, quick approval process, and flexible repayment procedures.

5. ADCB Simplylife Personal Loan

ADCB Simplylife is one of the best to cherry-pick, their features are:

Flexible repayment period of max. 4 years
High loan amount of AED 500,000
No extra fee on early settlement of loans(s)
Quick approvals
No collateral or a guarantor needed

Always remember that apart from the salary that a person is drawing, there are numerous other factors that will help you in securing a loan. You should always ensure that you have a good credit score. Also, all your previous loans etc. should be paid off completely before you are seeking a new loan. You must have a good reputation and a stable job with at least 3 to 6 months of work at the present company.

This article highlights the important features of the loans, choose the one that suits you best and explore it completely on the respective website or by visiting the bank.

The Minimum Salary in Dubai in Various Industries

Omar Mohan

Dubai has been an attraction and a dream place for people who want to increase their bank balance. Various industries are offering different salary ranges. The minimum salary in Dubai is sufficient for a single person to maintain an average standard of living.

When we talk of a particular minimum salary in Dubai then it can be approximately 4810 AED per month. Dubai is a hub of industries and different types of industries in Dubai pay different salaries.

Minimum Salary Scale

It is important to also note that there is no prescribed minimum salary in Dubai. The government has no regulation in place for deciding any minimum salary in any industry. However some governments have their own minimum salary scale to protect their citizens like India.

1. Hospitality industry:

The salary structure varies for different work profiles:

The salary of a Hotel General Manager in Dubai can range from AED 15000 to over AED 30000 per month.
A corporate executive chef can draw a salary between 20000 AED to 30000 AED per month.

2. Construction industry:

An individual working in the construction industry in Dubai earns about 12,300 AED per month.

3. Media industry:

A person associated with media, broadcasting, and entertainment in Dubai earns around 19,700 AED per month. The highest-paid salary in this industry is 39,100 AED.

4. IT industry:

When talking about the salary scale that the employees are offered in IT industries, they are being paid a reasonable amount of minimum salary. A person working in the IT industry generally draws a salary of 7500 AED per month. This is the minimum average pay for a month which includes accommodation, transportation, and other amenities.

5. Retail industry:

An individual working in the retail industry is able to earn a salary of around 5000 AED per month. Merchandisers earn around 4000 AED per month and a store manager earns around 8000 AED per month.

6. Oil and gas industry:

The oil and gas industry grabs the attention of investors. One who is working in this industry earns around 17,600 AED per month. The highest salary drawn here is 41,600 AED per month leaving the rest between these two limits.

7. Tourism industry:

Dubai is a very elegant city where the tourism industry is flourishing rapidly. The salary range here is from 4810 AED to 40.800 AED monthly. It includes housing, transport, and other benefits too.

8. Real estate and property:

It is another large-scale and flourishing industry in Dubai where the salary ranges from 8,470 AED to 24,500 AED monthly. This industry has a good scope to absorb many who are interested in this field.

9. Manufacturing industry:

A person working in the factory and manufacturing sector in Dubai earns around 13,100 AED per month on average. The salary range here is 4,370 AED to 34,100 AED per month.

10. Pharmaceutical industry:

An individual working in Pharmaceutical and Biotechnology earns around 29,200 AED per month. The average salary ranges from 14,100 to 52,400 AED monthly.

Factors affecting Salary

Please keep in mind various factors play a decisive role while deciding the final salary you earn.

Number of years of experience in the field.
Educational Background and country you have graduated from. Students graduating from universities in America, UK, Australia usually earn a higher salary than others.
Salaries for various jobs vary from company to company.
Nationality and gender also play an important role.

The minimum salary in Dubai is around 4810 AED per month and the highest is 37,400 AED per month. There are other posts in between these two limits which offer the salary between the mentioned salary structures

Get to know about the Sharjah Islamic Bank Branches

Omar Mohan

Sharjah Islamic bank previously known as the National Bank of Sharjah is under Islamic bank in the Emirates of Sharjah in UAE. It provides all types of banking services and has opened numerous bank branches for customer convenience.

In their own words:

“In SIB, our aim is to give you convenient access to your accounts & deposits. We make it effortless for you to stop by any of our branches through our widely spread network of branches & ATM machines; we are one step closer to our customers each day.”

SIB, has two kinds of branches, one is a fully functional branch and other’s are ATM’s merely useful for money withdrawal, deposits, passbook updating or account statements. You can check the complete list of branches on SIB’s website.

For your ease and convenience, we have listed them all as under.

1. Branches

SIB has 34 branches situated across UAE. Out of which 18 are in Sharjah, 5 in Dubai and 3 in Abu Dhabi.

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2. ATM’s

SIB has 101 ATM branches spread across Sharjah alone. Apart from this it also has 21 ATM’s in Dubai, 8 in Abu Dhabi, 3 in Al Dhaid, 4 in Al Ain, 9 on the East Coast and 1 in Ras Al Khaimah. To check the complete list visit their website.

Selected Branches

Here under is a description and specialty services available at some of their well-known branches.

1. Mega Mall Branch

This branch is highly committed and offers various avenues for online banking, currency conversion, etc.
It manages the accounts very well.
It deals in retail banking as well as corporate banking.
A wheelchair facility is duly available at the entrance of the branch for its physically disabled customers.

2. Wasit Branch

It is a rapidly growing branch giving all types of online banking facilities to its customers.
Specialized products and services are modulated as per the customers’ requirements.
The accurate and balanced disclosure and provision of all the necessary updated information are done from time to time.
The lounge area is big to avoid long queues and crowds at the cash counter.

3. Sharjah Islamic Bank Kalba Branch

The bank is committed to providing updated information to its investors and shareholders to keep them intact for a long period.
Timely audits are done to maintain transparency.
It also provides different types of loans such as personal loans, home loans, etc.
It has a qualified staff who has all information at their fingertips.

4. Dibba Al Hisn Branch

It believes in holding investors and customers by providing attractive banking offers and deposit schemes.
The withdrawal of money is also easy for the customers at any time.
Money transfer to the third party is quite simplified owing to smooth transaction policies.
It has a vast parking area to accommodate ample vehicles at a time.

5. Fujairah Branch

Located in Fujairah, this branch is working with credit union business activities.
It offers retail banking, online banking services, and various other attractive offers for its valued customers.
The branch has a good ranking due to its customer-oriented services.

6. Sahara Centre Branch

This is another flourishing branch providing all types of banking facilities to retain its customers.
The primary objective is to remain customer-oriented rather than holding maximum accounts.
The interest rate given on the various fixed deposits is beneficial for its customers.

Sharjah Islamic Bank Branches are now reaching heights to gain publicity in the banking sector. It strives hard to provide a high level of service with great efficiency. It has now become a multi-tasker in banking with the help of its diversified branches. The bank has also been awarded the best customer service provider bank as its addresses and solves customer grievances at the earliest.

Personal Loan in UAE 2500 salary – Essentials you need to know

Omar Mohan

Necessary and urgent expenses do arise at times in our life. A good solution to tackle such situations is acquiring a personal loan. By following some necessary documentation and fulfilling the age criteria one can take a personal loan in UAE. Most banks and financial institutions require a higher than 2500 AED salary to process your loan.

One of the available option is to take the overdraft facility available in First Abu Dhabi Bank (FAB) if you want to avail a loan and have a salary of AED 2500.

Important Things to Know

There are certain things you need to know before applying for a loan with the same salary.

1. High-interest rate:

The interest rate is higher as compared to the rate of interest in another personal loan because this type of personal loan carries flexible repayment tenure of about 48 months.

2. Lengthy documentation process:

Since this loan’s approval is not easy, it involves a detailed and lengthy documentation process.
Fulfilling all the documentation and formalities such as loan approval forms, identification and other bank accounts information, etc. is a must to enjoy personal loan benefits.

3. Age criteria:

The applicant must be of 21 years and not below to apply for the loan.
The loan amount must be paid back by the applicant before the age of sixty years for UAE nationals and sixty-five years for expatriates.

4. Good credit score:

The applicant must have creditworthiness. If he/she does not hold a good credit score there are chances that the personal loan will get rejected.
His debt and repayment history should be good.

5. Employment status:

To avail personal loan benefits, it is a must for the loan applicant to be employed with the current employer for at least one to six months. If not, the chances of rejection are high.

6. Listed company:

Only those applicants who are working in a listed company can avail the facility of this personal loan in UAE 2500 salary.

Documents required:

The following are the documents required to avail a personal loan if your salary is 2500 in UAE.

Loan application form filled and signed by the applicant.
Identity proof documents like passport, residence visa, etc.
Recent bank account statements.
Salary certificate or salary transfer letter.
Those who are self-employed need to show a trade license. This is mandatory for them.
In the case of expatriates, a valid passport and residence visa is compulsorily required.

Advantages:

1. Meet out emergency expenses:

Personal loans help in meeting your requirements when in emergencies.
Unforeseen situations come without telling. This is where these personal loans help the most.
All kinds of expenses that are incurred when in an emergency, can be covered with the help of personal loans.
If you want to start a business without capital, the only options open to you are business ideas that can be started in the UAE without an investment. With a personal loan, you can start a larger b business and grow faster!

2. Motivator to maintain a good credit score:

An applicant seeking this loan will always remain motivated to maintain his credit score by paying off his debt on time. Therefore, this loan is said to provide motivation, as it requires timely debt payment.

3. Stability:

To avail personal loan with 2500 Salary in UAE, it is a must to maintain consistency at one company for a longer time to maintain one’s reputation and proof of its reliability.
Anyone who wishes to apply for this loan will try to maintain stability in a company without changing frequently.

Though options are limited to avail loan at a salary of 2500 in UAE, but a person with a good credit score still has a good chance of getting it. Otherwise, private money lenders are also an option.

Other important articles in this series:

How to get a personal loan in UAE without company listing
Personal Loan in UAE with 5000 Salary a Month
Personal Loan in UAE with 4000 Salary a Month
Personal Loan in UAE with 3000 Salary a Month

Private Money Lenders in Ajman

Omar Mohan

Private money lenders in Ajman have been on the rise with instant loans to cater to people, What should you as someone seeking a loan know about this money-lending practice?

With the increasing prices around the world along with the COVID-19 pandemic, where many people may have reduced salaries or lost their jobs, it is has become difficult to keep up with expenses. Whether it is for buying petty things, paying hospital bills or to fulfill daily needs. While there are formal institutions such as banks that are able to loan out money to people, often such loans are inaccessible to many for various reasons such as the lack of required documents, a long process of getting the loan when required immediately, lack of surety and even physical inaccessibility.

It is in such instances, where private money lenders in Ajman play a vital role in ensuring that the locals have money to meet their needs.

What is private money lending in Ajman and who is it catered to?

Private money lenders are not affiliated with formal financial institutions.
If one does approach a private money lender in Ajman they can have direct contact with the moneylender and can thus, even have scope for negotiating the period, amount and even the interest rates of the loans.
Furthermore, the private money lenders in Ajman are not just available to individuals seeking loans for their personal needs but are also available to people trying to start or expand their business ventures and in need of sizable investment.

How reliable are private money lenders in Ajman?

There are two types of private money lenders.

1. Licensed:

Since the private money lenders in Ajman need to be licensed by the Central Bank of UAE, they are legal and hence have some level of accountability.
But they have some checks and measures in place like checking some basic documents, basic salary requirements etc.
They have a lower rate of interest as compared to the unlicensed moneylender.

2. Unlicensed:

There are also numerous money lenders who are not legalized and are often known as Loan Sharks.
Such private money lenders may give out loans easily but charge very high-interest rates which often people are unable to pay back even after years of working. These money lenders may even threaten individuals and their families if they fail to pay the initial amount and the interest.

So, no matter how dire your need it is important that you do a thorough research into the person you are borrowing money from. You do not want to get sucked into some mafia circle.

The Nature of Loans provided

The private money lenders in Ajman, just like in other areas of the UAE, take up to 3-4 days to render the money to the person taking out the loan, and are a faster means for people in need of urgent money.
The paperwork required to avail such loans are moderate.
Most private money lenders go up to a maximum of AED 100,000.
Each licensed private money lender may have different policies for credit check and usually have moderate rates of interest.
Furthermore, some of the private money lenders in Ajman can also be found online.
However, taking a loan through private money lenders online is a very risky process and must be avoided at all costs.
Lastly, private money lenders in Ajman are not the only way people can get loans quickly, people can also get private loans through money lenders in nearby cities in case of urgency.

Final Word

Private money lenders in Ajman have played a huge role in ensuring people have access to money instantly and have helped many who may have been helpless had they not gotten the money when they needed it. However, although private money lenders in Ajman may seem appealing to many who are in a dire need of money, people must be alert and careful of the people they borrowing money from.

Other private money lenders in the Emirates

Should You Opt for Private Money Lenders in Sharjah
How To Get A Private Loan In Dubai
Private Money Lenders In The UAE

5 Financial Companies in Dubai that Everyone Should Check Out

Omar Mohan

Financial companies in Dubai are growing at a rapid rate. Dubai International Financial Center has acquired 8th position in the top 10 financial centers in the Global Financial Centers Index. The city has been working to establish itself as an international hub with its regional laws, which makes it attractive to foreign investors who want to set up business there without having to worry about costly legal fees from other countries like Britain. As the country continues to grow economically, you can expect that these numbers will continue climbing steadily over time.

We have rolled out 5 financial companies in Dubai that are making a big difference to an investor’s life with their out-of-the-box financial services.

Top 5 Financial companies in Dubai

1. Dubai Investments

Dubai Investments PJSC is a chief investment company in Dubai with 25 years of experience.
This world-class company has more than 19,800 shareholders.
It majorly invests in profitable businesses due to which it enjoys exponential growth in several sectors including healthcare, education, real estate, and manufacturing.
Dubai Investments PJSC is setting a milestone of sustainable growth for other investment organizations in Dubai. Investors can discover some of the best investments with Dubai Investments.

2. Emirates Investments Bank

The Emirates Investments Bank is a large investment firm that provides services to individuals and corporations.
Founded in 1976, the company has come a long way and today it’s a renowned name in the global finance market.
In the year 2005, Emirates Investments Bank secured a position in the Dubai Financial Market. Investors and individuals can look up to this company for daily banking, wealth planning, asset management, lending, and trading & execution services.

3. AIX Investment Group

AIX Investments Group is a celebrated global financial institution with more than 35 of experience in the domain of investment advisory.
With an interesting portfolio of Forex, Digital Assets, and Commodities, the company stands strong on the financial grounds.
This company aims to multiply the capital of the investors so they can enjoy financial security.

4. Levant Capital

Levant Capital is a Dubai-based independent investment company that has been operating since 2006.
It primarily invests in buyouts and growth equity shares while it also considers early-stage firms and structured debt instruments.
Above all else, Levant Capital Investment Company strives to make investments that will provide lasting benefits for its investors while striving to be socially responsible and environmentally conscious at every step of the way.

5. AES International

AES International is a financial firm in Dubai.
Incepted in 2004, the company has helped thousands of people create a life that they wanted with efficient financial planning and management.
It specializes in fiduciary advice, wealth advice, retirement planning, and corporate health insurance.

In addition to the companies mentioned above, check out our list of the best private banks in Dubai.

Make Your Future Secure with These 5 Finance Companies in Dubai

These are the top 5 financial companies in Dubai that offer truly amazing financial services and assistance to make people and corporate life financially secured. Keep in mind that there are smaller investment companies in Dubai that offer some similar services as well.

Which of these financial institutions will you consider for investment? Let us know in the comments bar.

What are the Bank Interest Rates in UAE? Things You Need to Know

Omar Mohan

There are various types of bank interest rates in UAE. It can be tedious job indeed to choose the bank which is offering the most attractive deal. You want the highest interest rates while choosing savings bank account and the lowest possible rate while taking a home loan.

Let us explore the different bank interest rates in UAE.

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Savings Account Interest Rates

Savings Accounts generally calculate interest on a daily basis.
The interest payments are given on a monthly or quarterly basis depending on the bank policy.
We have complied a list of some of the leading banks of UAE, with high-interest rates on savings bank accounts.
To know more about any savings scheme follow the link in the table to know more.

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Fixed Deposits

The interest rate on Fixed Deposits depends on numerous factors:

Term of Deposit
- Interest Rates are typically higher for long term deposits.
- Deposits made for less than a year will earn lower interest rates.
Amount of Deposit
- The total amount of deposit made will also help determine the rate of interest.
- Very low amounts will attract lower interest rates.
Depositor
- Some category of individuals like senior citizens, bank staff etc. can get some additional advantages.

Check some of the top fixed deposit interest rates and other details here.

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Home Loans

Since a mortgage loan is the biggest loan most people would ever take out, it’s essential to think of all of the factors involved in purchasing a house. Mortgage companies demand interest on the sum they loan to homeowners depending on the purchaser’s credit. You will need bank statements of the last 6 months, your passport, visa and salary details, etc.

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Please note that the rate of interest is variable and depends on your particular situation. For example, as per the Rakbank bank in UAE, the interest rate for salaried customers is 2.69% and for businesspersons is 3.49%.

Various other conditions like minimum salary, minimum tenure of business, nationality, age etc. will decide the eligibility for loan. The average interest rate on a mortgage loan has gone up and down over the last 40 years. Although buying a home is a wonderful example of a monetary target. It’s essential to perform your homework before taking out a mortgage loan to see if now this is the right decision to make.

Personal Loan

The different bank and financial institutions makes it easy for foreigners and UAE citizens to obtain loans. You will get clearance without any problems if you have all of the necessary documentation and meet the eligibility requirements. The maximum tenure for the repayment of loan is generally 48 months.

Hereunder, is a brief overview of the interest rates the different personal loans in UAE.

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Please Note, that Salary Transfer to the institution from which you are availing the loan is mandatory in some cases while others are more flexible.

Business Loans

Abu Dhabi Commercial Bank is one bank amongst others that gives out business loans.

This loan will help the lender with a variety of business requirements, including equipment resources, operating expenses, commercial properties, and much more.

ADCB’s business loan has the following characteristics:

● A loan equivalent to 3.5 million AED is available.
● Period to approve: 7 days
● The fee of 2% for processing
● Interest rate is 17%.
● The repayment term is upto 48 months.

So, you now have an idea about the latest prevailing bank interest rates in UAE.

Tip to get the Best Deal

Whenever you are thinking about investing or taking a loan, the best way is to write an e-mail to various banks with your requirements and position like salary, nationality, etc and enquire about the best rate of interest they can provide.

Should You Opt for Private Money Lenders in Sharjah?

Omar Mohan

Private money lending in Sharjah and other states of the Emirates has become a viable option for you to get a personal loan. It does provide you with quick cash even in the absence of good credit, or when you are trying to cut short the time involved in documentation.

But beware, that most involved in the profession of private money lending in Sharjah, are illegal and criminal. Don’t let these “hard cash banks” encash your dire financial situation. Also, before resorting to private money lenders you must exhaust all other available avenues.

Why Should You Avoid Borrowing Money from Private Lenders?

The chances of getting trapped while resorting to private money lenders in Sharjah are positive since most of them charge upfront fees even before providing a loan.
Besides, this activity is held punishable by the legislation of the country as well as the state.
High rates of interest are charged by the moneylender just to avoid the legal documentation process that appears an unnecessary wastage of time to you.
The loan tenure is shorter than that provided by banks increases your repayment burden if you fail to meet the deadlines.
If you don’t choose the right money lender you might end facing threats for your untimely repayment.
Your confidential details including passport information are extracted by the private loan providers.
These loan sharks force you to commit unfavorable acts and also retain your passport to restrict you from fleeing without having cleared the repayment.

What is the Apparent Advantage of Turning to a Private Money Lender?

You need not fulfill the essential qualifications otherwise demanded by banks for the approval of your loan. If you prefer a loan from the bank, check out these banks in Sharjah.

Private money lenders in Sharjah and other parts of UAE don’t demand proof of your nationality, monthly salary, or age, which brings the documentation work to a bare minimum. On the other hand, the scope for legal troubles in near future maximizes.

Is there an Alternative to

Private Money Lending?

Your Employer or close relative is a much safer option for clearing your debts within the suggested time, and that too without resorting to illegal means.
Or, you may sell any of your previous assets to get instant cash for your present requirement of a sizeable sum.
These days you have the facility of online crow funding that makes it easier to accumulate the required amount of money through small debts from people whose social and economic background you are aware of.

Not many of the private loan providers in Sharjah or UAE are recognized by the government to offer you money in alignment with the state laws.

Most of the professional private money lenders are cheapskates that try to accumulate money through your loan repayments by dishonest means.

Therefore, it is necessary to plan your savings before you decide to start a venture or buy a home. As they say, money is sweeter than honey but it can transform your life into a tormenting nightmare if you land in huge debt due to reckless borrowing in an illegal manner.

Other private money lenders in the Emirates

Private money lenders in Ajman
How To Get A Private Loan In Dubai
Private Money Lenders In The UAE

Personal Loan in UAE with 3000 Salary a Month!

Omar Mohan

Emergency expense will never be a bolt from the blue for UAE employees since they are eligible for personal loans even at a meager monthly income of 3000 AED. The borrowing amount fixed by the country’s financial regulation may not be large but it is definitely a boon for those helpless times when you need money more than anything else.

Advantages of Opting for Personal Loan in UAE 3000 Salary

Firstly, it is collateral-free loan that doesn’t demand any investment as a guarantee to the money lender.
The time taken by the bank to approve your loan application is minimal and thus, doesn’t keep you waiting for financial help to serve your purpose.
Money is disbursed at a relatively faster pace and you get the right amount at the right time to cater to your emergency needs.
The limit of the borrowing amount extends to a sizeable sum of AED 5 lakhs.
As mentioned earlier about the required documents, the application procedure appears to be hassle-free.
Eligibility criteria for availing the loan couldn’t be simpler than this and that too, without any major savings.

What Are the Documents that You Need to Keep at Your Disposal?

Salary statement.
ID card issued by UAE authorities.
Copy of your passport showing your visa for residing in UAE.
Statements of your bank account for the previous 3-6 months.
Trade license has to be furnished if you are self-employed.

Banks offering Loans

Here, we provide you an insight into the banks offering personal loans in UAE 3000 salary for easy reference.

1. Dubai Islamic Bank

The bank provides a lengthy repayment term of 4 years.
It doesn’t demand the transfer of your salary amount.
The early settlement fee charged by the bank is only 1% of the loan amount.
Flat rate and reduction rate of 6% and 11%, respectively, are reasonable too.
This loan is available for purchasing terms in alignment with the Sharia Law.
With a low arrangement fee of AED 1050, this personal loan in UAE 3000 salary is the best fit for buying commercial machinery, home appliances, or furniture.

2. RAKBANK

With a comparatively lower reducing rate of 3.99%, the personal loan offered by this bank is a fair choice.
Salary transfer is a prerequisite but the loan amount offered here serves your prime financial urgencies.
Both, the redemption penalty and early settlement fees are charged as 1% of the entire sum of money borrowed.
Besides, it provides the access to a top-up loan following the regular payment during the first year of the borrowing term.

3. Arab Bank

This bank enables you with a flexible time period to repay your loan.
Salary transfer isn’t necessary while the arrangement fee is just AED 1000.
Personal loan in UAE 3000 salary can be availed at an affordable 5.99% reducing rate from this bank along with a redemption penalty of 1%.
All you need to possess is an ongoing occupation that is at least 3-6 months old while you must be 21 years of age.

As you can see there are numerous options out there if you wish to avail a loan and have a salary of AED 300 in UAE. Thus, you may do away with the prejudice of personal loans being limited to individuals with high income or savings.

What If Your Company Is Not Listed?

To get a personal loan for a non-listed company as an employee with a 3000 AED salary, please read this post as it will provide actionable information and advice.

Other Important articles in this series:

How to get a personal loan in UAE without company listing
Personal Loan in UAE with 5000 Salary a Month
Personal Loan in UAE with 4000 Salary a Month
Personal Loan in UAE with 2500 Salary a Month
Personal Loans for Non-Listed Companies’ Employees with 3000 AED Salary in the UAE

Instant Cash Loan in 1 Hour without Documents

Cash Now Loan App UAE

Urgent Cash Loan in Abu Dhabi

Apps Like Cash Now in UAE

Online Money Lenders in UAE

Urgent Cash Loan App in Dubai

Urgent Cash Loan in Dubai

Instant Cash Loan in UAE

Conclusion

Loan Against Property for Expatriates in Dubai

Loan Against Property for Citizens in Dubai

Dubai Mortgage for Residents

Loan Against Rental Property

UAE Mortgage Pre Approval

Personal Loan in Dubai

Zero Down Payment Mortgage Dubai

Dubai Home Loan Interest Rate

Conclusion

Best Mutual Funds in UAE

1. Dunn Capital Management

2. Lindsell Train Japanese Equity Fund

3. Fidelity Investment

4. Schroder US Mid Cap Fund

5. Fundsmith Equity Fund

Mutual Funds in UAE ADCB

Mutual Funds in UAE Returns

Mutual Funds in India for NRI

Emirates NBD Mutual Funds Review

Emirates NBD Mutual Funds

Mashreq Bank Mutual Funds

Conclusion

Top Best Zero (0) Interest on Car Loans in UAE

1. Emirates Islamic Bank

2. Abu Dhabi Commercial Bank

3. Al Hilal Bank

4. Ajman Bank

5. Bank Muscat

6. Dubai Islamic Bank

Car Loan Interest Rate in UAE

Minimum Credit Score for Car Loan In UAE

Car Loan for Self-Employed in UAE

ADCB Car Loan Calculator

Emirates NBD Auto Loan Minimum Salary

Car Loan Procedure in UAE

Conclusion

What Is a UAE Auto Loan?

How Much Downpayment Is Required In The UAE For A Car?

Can I Get 100% Financing On A Car Loan In UAE?

Personal Loans and Downpayments In The UAE

Can I Do A Partial Payment To My Car Loan?

Who Can Get A Car Loan In UAE With A Downpayment?

Are Salary Transfers Required For A Car Loan?

How Does The Process Of Purchasing A Car With Downpayment Work?

Buying A Used Car With 20% Downpayment

How Used Car Dealers Offer 0% Downpayment In The UAE?

Top Car Loan Providers in UAE

ADCB Bank Car Loan

ADIB Bank Car Loan

Emirates NBD Car Loan

First Abu Dhabi Bank (FAB) Car Loan

Mashreq Bank Car Loan

ANRAKBK Car Loan

Emirates Islamic Bank Car Loan

HSBC Car Loan

What Documents Are Required To Get An Auto Loan In the UAE?

Who Is Eligible For A Auto Loan In The UAE?

Financial Position of Company

Why the change in name?

What do people say about Dunia Finance LLC?

Dubai Finance Review by Employees:

Dubai Finance Review by Customers:

Gender-based Dunia Finance Review

Other Banks and Financial Companies

Best Banks in Abu Dhabi

1. First Abu Dhabi Bank

2. Emirates NBD

<img decoding="async" class="alignnone size-medium wp-image-808" style="font-size: 16px;" src="https://uaeloanbazaar.com/wp-content/uploads/2021/06/2-300x171.jpg" alt="Emirates NBD" width="300" height="171" />

3. Abu Dhabi Commercial Bank (ADCB)

<img decoding="async" class="alignnone size-medium wp-image-806" style="font-size: 16px;" src="https://uaeloanbazaar.com/wp-content/uploads/2021/06/3-300x200.jpg" alt="Abu Dhabi Commercial Bank" width="300" height="200" />

4. Emirates Islamic Bank