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How To Get A Cheap Personal Loan In The UAE?


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. 


  • 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.


  • 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.


  • 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.


  • 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.


  • 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.

  1. Completed Loan Application.
  2. Valid Passport and Visa.
  3. Previous 3 months bank statement.
  4. Recent salary certificate.
  5. Salary transfer letter.
  6. 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

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

Salary in Dubai in Various Industries

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

Get to know about the Sharjah Islamic Bank Branches

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

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

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.


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

Private Money Lenders in Ajman

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

Financial Companies in Dubai that Everyone Should Check Out

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

bank interest rates uae

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:

  1. Term of Deposit

    • Interest Rates are typically higher for long term deposits.
    • Deposits made for less than a year will earn lower interest rates.
  2. 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.
  3. 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?

Should You Opt for Private Money Lenders in Sharjah

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?

  1. 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.
  2. Besides, this activity is held punishable by the legislation of the country as well as the state.
  3. 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.
  4. The loan tenure is shorter than that provided by banks increases your repayment burden if you fail to meet the deadlines.
  5. If you don’t choose the right money lender you might end facing threats for your untimely repayment.
  6. Your confidential details including passport information are extracted by the private loan providers.
  7. 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!

Personal Loan in UAE with 3000 Salary a Month

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?

  1. Salary statement.
  2. ID card issued by UAE authorities.
  3. Copy of your passport showing your visa for residing in UAE.
  4. Statements of your bank account for the previous 3-6 months.
  5. 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.


  • 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

Find the Best Business in UAE without Investment


Is there anyone who at some point or the other not imagined of starting one’s own business but was held back due to a lack of capital? Well, business in UAE without investment is no more imagination but a dream come true. And, this has been made possible by the tax-free UAE market. There is no industry that the country is bereft of. A few of the available business opportunities which don’t demand any capital money from you. have been discussed here.

These businesses can be started in the UAE with minimal paperwork and little to no investment! Otherwise, you will need to get a UAE loan if you don’t have the money to fund your business. Even though you can get a personal loan in the UAE with a salary as little as $25,000, you may want to stay out of debt.

Types of Businesses you can start even without Investment

1. Pet Sitting

  • Investment: Ability to take care of animals and travel if required.
  • Return: 80 AED/half hour.

With no dearth of pets in UAE residences, you can strike gold with the pet sitting business. The demand for professional sitters is increasing due to the rising need of pet owners to stay out for hours or days as expatriate workers. Your affinity for animals and travelling is the only investment you need to make. The rates for a 30-minute sitting session that includes caring, walking, and feeding the pet is around 80 AED, which assures easy money.

2. Coaching Centre

  • Investment: Subject Matter Mastery.
  • Return: 180 to 250 AED /hour

UAE’s favorable location at the midway of the sprawling Western and Eastern markets makes it a melting pot of business men and their families. The children need tutors to survive in this ever competitive world. From an instrument to any academic subject, anything can be tutored by you and the start requires just your own potential. To begin with, you could open one tutorial class in your own home or even take home tutoring lessons.

3. Wellness Services

  • Investment: Degree or training expertise as dietician, naturopathy, reiki, yoga etc.
  • Return: 150 to 250 AED /hour

What costly setup does it take to provide yoga training amidst the scenic beauty of the wonderful beaches? Or, you may utilize your degree in nutrition to train individuals as personal dieticians to be hired from your company. The busy corporate lifestyle of workers in UAE has heightened the need for buying wellness facilities that you might take advantage of.

4. Consultancy

  • Investment: Mastery in any field like law, finance, education, HR, Social Media etc.
  • Return: 200 to 300 AED /hour

Consultancy is one such business in UAE without investment, which is bound to earn you a fortune instead of having to spend it. If you are brimming with industry-specific ideas or takeaways from your own job experience then give advise to other businesses that need it and carve out your own niche in the market.

5. E-Commerce

  • Investment: Product Knowledge and ability to set up e commerce shop.
  • Return: Unlimited.

Warehouse or office space expenses can totally be ignored to start an e-commerce shop at the desktop PC in your home. The cost of the permit offered by UAE for such start-up platforms is highly reasonable and can be availed with ease. Besides, the e-commerce business realm still remains unexploited in this country, thereby offering you fair chances to flourish in immediate future.

6. Cleaning Service

  • Investment:  Honest, Consistent, Punctual & Discrete
  • Return: 40 to 100 AED/ hour.

The increase in cash-rich lavish homeowners in UAE have given rise to the need to hire cleaning services. Cleaning supplies and adherence to timely delivery of tasks cost a bare minimum to start with. And gradually you may increase the count of overheads using your earnings to emerge as one of the fastest cleaning service brands in the locale or the country.

Business in UAE without investment or just by bearing the minimum equipment and overhead expense at the initial level is possible due to the provision of Free Zone Areas in the country. Choose which business suits you the best or keep exploring till you find you niche. But start now!!

Know the Qualifications for Bank Jobs in Dubai

Qualifications for Bank Jobs in Dubai

Landing a bank job in Dubai has become a hard nut to crack with the temporary and permanent residents of the UAE being preferred over foreign individuals. It’s not easy to get a bank in Dubai or the other larger banks in the UAE.

Never mind, you have a fine chance to make it with just the right qualification for bank jobs in Dubai. Here, we have unfurled the eligibility criteria for you to hit the nail on the head!

Basic Qualification for Bank Jobs in Dubai.

1. You must possess a suitable Degree

    • Bachelor’s Degree in Finance, Accountancy, Commerce, Banking or any other relevant field.
    • If you are also holding a Master’s Degree you will have an added edge.
    • Candidates with a degree from USA, Canada, Australia and the UK are preferred over others.

      2. Relevant Work Experience

    • Having a great Work-Experience certificate, from a reputed organization will give you a big boost in the race.
    • Make sure the work-ex is in a related field especially customer relations.
    • Ensure that you have a minimum of 1-year of previous work experience.

      3. Full Knowledge of the Sharia Law

    • The Sharia Law is the supreme law of the UAE and it is thus mandatory for everyone to develop an adequate knowledge about it.
    • The Sharia Law is active in most states of the country including Dubai and also governs other laws including finance.

      4. Full grasp of the regulations and procedures affecting banking and financial services sector

    • Since you want to be a part of the banking sector, it goes without saying that you should know how the banking machine runs and be able to fit in it like a perfect cog.

5. Knowledge of Computers

    • With the advent of mobile banking, Internet banking computers and internet have become an essential part of the banking industry.
    • A suitable candidate must possess al the essential IT skills to qualify for any bank job.

Essential Skill Set that the Ideal Candidate must possess

Apart from the essential qualifications, it is also important to have the persona to suit the banking sector. In fact, the skill set is also very important and might as well be considered as an essential Qualification for Bank Jobs in Dubai.

  1. You should be a master of numbers, accounting, problem-solving etc.
  2. Next, the ability to work long hours under stress and meet deadlines is very important.
  3. You must be quick on your feet and able to make sound decisions instantaneously.
  4. Able to interpret financial information simply.
  5. Being organized, punctual, and dedicated will help you make the cut. Also, focus on improving your interpersonal skills.

Secret Tip

Specialize in the Arabic Language

    • Your Arabic language skills need to be as sharp as your proficiency while conversing in English.
    • Knowing the local language is a unique advantage especially in Dubai where it is highly valued and well rewarded,
    • A firm grip of both these languages will help you cross the hurdles to a successful bank job designation in Dubai.

Worried you might not make the cut!!

Well, if after reading all the qualifications for obtaining a Bank Job in Dubai you fall short.

There just might be another way to enter the banking sector if that is your one true dream. You can start working for the bank at the clerical level. While in the job you can continue to work at your skill set and attain the executive or managerial level jobs.

Explore the jobs at one of Dubai’s top banks and know how varieties of jobs available, upcoming career fairs, openings etc.

Dubai First Credit Card- Features, Activation | 2022


Dubai First Cashback Credit Card offers unlimited cashback with instant earning and redemption.


Along with unlimited instant cashback, this card helps you enjoy rewards such as 5% cashback on online purchases and at supermarkets, 1% cashback on all other purchases and many other benefits, making your savings higher!

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Joining Offer:

No Annual Fee


Minimum salary required 5-30K AED

Documents Required

  • Emirates ID
  • Passport and Resident Visa
  • Salary Certificate
  • Trade License

Reward Features:

Through the Dubai First Mobile App, you can get

  • 5% cashback on online purchases including travel, utility bills, school fees, fashion items, electronics, and anything else you buy online
  • 5% cashback at supermarkets
  • 1% cashback on everything else
  • Unlimited cap earning
  • No minimum spending
  • Up to 10% additional cashback on 1,500+ ecommerce sites with Shopsmart


Detailed Features:

dubai first credit card features

    1. Airport Lounge Complimentary Access

It offers unlimited complimentary access to over 25+ airport lounges across Middle East and the world.

You can get access to various facilities like email, internet, phones, refreshments, snacks, conference space and fax machines.

  1. Lifestyle Benefits

Avail a range of benefits you can get on online shopping of trendy lifestyle items such as clothing, electronic etc.

  1. Shop Smart

Get additional cashback up to 10% over 1,500+ ecommerce sites or any purchase you make on www.shopsmart.ae.

  1. Discount on Careem Rides

Get up to 20% discount on 3 Careem Rides every month.

  1. 1+1 on leisure, entertainment & more

Buy 1 Get 1 offers on spa treatments, travel fine dining and many other places in the Middle East and Africa with the Mastercard Buy 1 Get 1 App.

  1. Discount on Cleartrip

Visit the Cleartrip app and book any round trip, international airfare or hotel using this Cashback Card and avail up to 30% discount on yout travel booking

  1. Discount on Hotels.com

With thousands of properties over 200+ countries, book a stay for your next vacation and avail up to 10% discount off the price for your booking.

  1. Discounts & Privileges at Luxury Serviced Apartments

Get special privileges and discounts of up to 15% at luxury serviced apartments including:

  • 2,500+ properties across London, New York, Los Angeles, Paris and Rome
  • Grosvenor House Dubai
  • 25+ Oakwood properties across Asia Pacific- China, Japan, Thailand & India
  1. Discount on Shipments

Shop at over 100,000 US retailers including Apple, Amazon and Ralph Lauren  and get affordable international shipping with MyUs App.

How to Activate Dubai First Credit Card?

dubai first card activation

  1. Activate the card through the Mobile App

Once you open the sealed envelope in which you receive the card,

  • Scan the QR code
  • Download the Dubai First app
  • Follow the onscreen directions
  • Set up a PIN
  • Activate your card


  1. Call on the number at the back

Call on their 24/7 service center on 04-5068888 for assistance to set up your PIN and activate the card

  1. Activate via SMS

Send an SMS to 4743 CACT {space} last 4 digits of the card number {space} 4 digit PIN.

Frequently Asked Questions

Q. Can people new to UAE get a credit card in UAE?

Yes, if the person has a verifiable source of income, he/she is eligible to get a credit card in the UAE.

Q. What is the maximum cash withdrawal limit of credit cards in UAE?

It depends on the card, even though some banks offer 100% cash withdrawal.

Q. Are non-residents of UAE eligible for credit cards in UAE?

Only the residents of UAE with a valid Emirates ID are eligible for a credit card in UAE.

Q. Are their charges on cash withdrawal from credit card?

 Yes, some amount is deducted on cash withdrawal.

Apply now on the Dubai First Cashback Credit Card website or their Mobile App.

Earn While You Shop: Top 5 Cashback Credit Cards in UAE

Are you looking for Cashback Credit Cards in UAE? Well, you have come to the right place.

Spending more is not a negative thing always. Sometimes, it helps you earn more. This is exactly the advantage of having a cashback credit card. It pays back the user a certain percentage of their spending they make in cash.

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How Does Cashback Work?

Usually, it is great deal because it gets some money back to the cardholder every time, they spend some amount using the card.

Supposedly, if a card provides you with a cashback of 3% on your expenses, spending 1000 AED will help you earn 30 AED.

The cashback you gain can be in the form of cashback points or in the form of money which is credited back to your account by the end of the billing statement.

This way you can shop as much as you want and save a good amount out of the spending.

TOP 5 Cashback Credit Cards of UAE in 2021

  1. Citibank Cashback Credit Card

citibank cashback credit card

This card requires a minimum salary of 8,000 AED without a salary transfer or adhere to Islamic Finance.

With 0 annual fees for the first year, this card is free from year 2 as well unless a minimum spend of AED 9,000 annually is not met.


  • Unlimited and Automatic Cashback on all spend
  • Complimentary Travel Insurance
  • 2% cashback on grocery shopping
  • 1% cashback on other expenditure
  • Complimentary access to over 850 airport lounges
  • No minimum spends and redemption
  • No earn caps on cashback

Documents Required:

  • Copy of visa & passport
  • Emirates ID
  • Salary certificate
  • 3 months’ salary statement
  1. CBD Now Visa Signature Card

CBD now visa signature card

With a minimum salary requirement of AED 10,000, this card does not require salary transfer nor offers Islamic finance.

It has 0 annual fees with an interest rate of 2.99% after a 52-days interest free period.


  • Flexible 12-months installment plan
  • Complimentary access to over 550 airport lounges worldwide
  • 50% off on 4 VOX tickets per month
  • Free Valet Parking

Documents Required:

  • Emirates ID
  • Copy of passport
  • Residence visa
  • Salary certificate
  • Valid trade license if self-employed
  1. ADIB Cashback Visa Platinum Card

ADIB visa signature platinum card

This card has a minimum salary requirement of 5,000 AED and a profit rate of 2.99%. It also offers 1% unlimited cashback on all retail expenditure.


  • Islamic Credit Card
  • 1% cashback on all purchases
  • No minimum spend required
  • Valet parking at selected places in UAE
  • Complimentary access to airport lounges worldwide
  • 4 Supplementary cards

Documents Required:

  • Copy of passport
  • Emirates ID
  • 3 months bank statement
  • Salary certificate (not more than 30 days old)
  1. Citibank Citi Prestige Card

citibank citi prestige card

With an annual fee of AED 1,500, this cashback credit card requires a minimum salary of 30,000 AED.

It also offers 10,000 bonus points when the card is renewed annually.


  • Complimentary access to over 750 airport lounges worldwide
  • 24/7 concierge service
  • Free golf services
  • Unlimited supplementary cards free of cost
  • Redeem bonus points for free flights or Air Miles
  • Free 4 VOX tickets

Documents Required:

  • Pan Card
  • Salary slips for last 3 months
  • Copy of passport
  • Driver’s license
  1. ADIB Spice Card- For Expats

ADIB Spice card for expats

It offers one of the best reward programs in UAE. It is an Islamic credit card. 100% finance limit for cash withdrawals with a minimum salary requirement of 12,000 AED.


  • Up to 9% cashback on restaurant bills
  • 7% on grocery shopping
  • 4% on fuel
  • 1% on utility spend
  • Dining discounts up to 25%
  • Reward points can be redeemed for airline tickets

Documents Required:

  • Original and copy of passport
  • Emirates ID
  • 3 months bank account statements
  • Salary certificate

Things to Remember before getting a Cashback Credit Card

  1. Minimum Spending Requirement

Cardholder must ensure that he is not overspending and is adhering to the finance limit of the credit card. Overspending can increase credit utilization resulting in impacting the credit score negatively. Hence, always keep your credit limit in mind.

  1. Validity of Cashback Rewards

The cashback rewards always have an expiry date. The cardholder should keep a check on it and make use of the reward before time of validity expires.

  1. Caps on Cashback

Some credit cards have limitations on the cashback that can be earned. The cardholder must check the limit of maximum cashback and spend accordingly.

  1. Spending Areas

Not all outlets and expenses are eligible for cashback. The cardholder must check the spending area which offers cashback.

If you are generally interested in credit cards in the UAE, check out our article on the best credit cards in the UAE

How to Get a Car Loan in Dubai | 2022

The independence of owning your own set of wheels is something people cannot abstain from. Although Dubai offers several advanced modes of transport, Emiratis and expats cannot shake the feeling of calling themselves a proud owner of a car.

With that said, most buyers prefer a car loan as a mode of payment. But, how to get a car loan in Dubai? Hopefully, by the end you’ll know everything you need to know. The application process to apply for car loans Dubai, documents required, eligibility criteria, and more are discussed below.

car loan dubai

Application Process

When you apply for a car loan, and it gets approved, your car is mortgaged to the bank until you settle the loan.

To get the process started,
  • you will have to contact the bank. However, many car dealerships are affiliated with the bank to offer you a smooth and easy loan for your new car.
  • If your car dealership offers this service, it becomes convenient to compare loan rates and other details. But, you can always compare loan rates at online resources.
  • Based on the type of car, used or brand new, and other things such as models, your finance, and more, banks have different loan structures. 

But, there are some basic things you need to consider before applying for a car loan with any institution in Dubai as stated below.

Documents Required

documents car loan dubai

Although document and other loan application details differ, here are the important documents you are required to produce for a car loan.

  • Passport
  • Emirates ID
  • Salary certificate
  • Labor card
  • Driver’s license
  • Bank statements for the last 3 to 6 months
  • Insurance policy documents
  • Valuation certificate of vehicle
  • Car registration documents

Eligibility Criteria

The eligibility criteria is a lot similar for both expats and locals, the only difference is driving license. 

  • First and foremost, you should be at least 21 years of age to apply for a car loan in Dubai.
  • A valid driver’s license
  • A salary of at least 3000 Dirham is required to be eligible for most car loan dealers in UAE.
  • Valid documents as requested by the bank

How does Auto Finance work in Dubai?

There are different ways to finance your car in Dubai, it varies based on factors such as whether you are a local or an Expat, how long you wish to stay in Dubai, savings, type of ownership, and used or new car.

But, first, let’s discuss car loan considerations in Dubai.

  • Most banks specify the amount they are ready to invest which is 80% of the total purchase amount and 20% is attributed to down payment. It is better to accumulate your down payment funds in advance. Another important thing to note is that the car you intend to purchase must be around AED 25k out of which banks are willing to invest 20k. The rest is down payment.  To learn more, check out our article on how to get a car loan in the UAE without a downpayment.
  • Nevertheless, some UAE banks offer zero down payment options for a specific type of customer such as a business employee or self employed individual. Apart from that, you can get suggestions from your car dealer.
  • You need to produce valid documents such as salary certificate, bank statements from the last 3-6 months, Emirates ID, and a driver’s license. If you are an Expat, you should have a valid driver’s license, or you can apply for a new driver’s license in Dubai if there’s an issue with your original license. Car’s registration certificate, insurance policy documents, and valuation certificate are also required for a loan application.
  • The loan period for older cars is generally shorter due to less purchase amount. But, banks offer a maximum loan period of 60 months for both old and new cars.

Paying cash is always the best option to finance your car if you are ready with your funds. Besides cash or loan, you can also opt for a lease agreement if you want to stay for a year or so. Renting or leasing vehicles come with their own set of benefits. Instead of down payments, lease agreements feature yearly or monthly payments, gasoline charges, and maintenance costs.

Repaying Methods of Loan

As mentioned earlier,

  • The Banks in Dubai structure car loans with a repayment tenure of  60 months.
  • The used cars have shorter repayment tenure, say, a ten year old model will have a repayment term of two years at best.
  • Interest rates are the most important thing to consider before financing your car with a loan. Loans with shorter repayment terms demand a higher repayment amount every month. However, long repayment terms come with less amount to pay. 

Thus, compare the best interest rates offered by different banks and go with the cheapest car loan option in Dubai.

If you’re interested to read more about How to Get a Home Loan in Dubai, click to read the best review. 

How to Get a Home Loan in Dubai | 2022

Dubai is considered as a haven for expats who are looking to lead a luxurious lifestyle. If you intend to settle down in Dubai for long, then getting a home will be your basic requirement. The good news is even the expats and foreign residents can procure a property in Dubai. The financial institutions process non-resident mortgage applications both for investment and for having a home for your family.

Well, let’s check how things work for foreign nationals if they intend to get home loans in Dubai: 

Eligibility Criteria

If you are planning to buy a home in Dubai as a non-resident of this state, you can still apply for the same. Generally the nationalized banks in Dubai have the following four conditions to fulfil as a home loan seeker eligibility. 
To get a Home Loan in Dubai, 

  • You should be a resident in Dubai for not less than six months to a year. 
  • The total duration of your employment in UAE should be minimum six months 
  • The business period in the country should be two to three years 
  • A good credit score and lastly, 
  • Your employer should be in the bank list

If you suffice these requirements, you are entitled to get a home loan.

In addition, if you are looking at how to take out a loan against your property in Dubai, please check out this guide.


The Process of getting a Home Loan in Dubai is as follows-

  • You need to check how much money you need to buy a home in Dubai.
  • Then comes the duration of the mortgage along with deciding the interest rate – going for a variable or having the fixed interest rate.
  • The process often takes a few weeks. Thus people opting for the same have to get an advance approval from banks.
  • Once you get a home of your budget, you have a loan under process against the things you want to mortgage as per the bank requirements.

All these are some of the key considerations you need to check for getting a home loan in Dubai.

Applying for a Home Loan 

In order to start the process of your home loan, you are supposed to provide the bank the following documents: 

  • Your personal identification documents, for foreigners it is the passport for the locals, they can produce any other document. 
  • Legal document of your residence in Dubai with your current residential address proof
  • Your creditworthy documents like bank statements, tax, wages proof or your employer letter.
  • The documents that can prove the affordability element of the mortgage.
  • In Dubai the banks would need your debt payments to be not less than 50 percent of your income. Thus in UAE, the banks remain more flexible as compared to the other nations.

Once these documents are ready, you are good to go for lending a home loan for buying a home in this place. 

Home Loans for UAE Nationals 

If you are a local in Dubai, you can enjoy loans the following way: 

  • The locals are offered loans up to AED 15 Million,
  • You get finance up to 85 per cent to the property value 
  • Enjoy the loan tenure up to 25 years 
  • Avail the Pre-approval facility 
  • It is available for salaried and self-employed individuals 

The banks can still have the right to change or amend the requirements 

Home Loans for Expats 

When it comes to getting loans for the expats or foreigners there seems to be some amount of difference, which are enlisted as under: 

  • You get a loan up to AED 15 Million, or 70 times your salary, which one is calculated as the lower 
  • The banks can finance up to 75 per cent of the property value 
  • Loan tenure be up to 25 years 
  • You can enjoy the pre-approval loan facility 
  • It is available only for the self-employed and salaried people. 

Lastly the banks are the sole authority to decide upon the loan conditions, which change from time to time. 

Wrapping Up 

When it comes to getting a home loan in Dubai, it can be a simple affair. However, the banks in UAE have their own standard process, which takes a few weeks to process. The local financial institutions like banks treat both the UAE nationals and expats similar ways provided they are sufficing their requirements. So, if you meet all their requirements, getting a home loan in Dubai is a simple affair.

Know more about How to get a Loan in Dubai, click to read article. 

How to Get a Mortgage Loan in Dubai

Mortgage in Dubai is still on the rise and contributes a considerable portion of property financing. Despite the sparse resources, UAE nationals and expats rely on home loans for most property investments.

Getting mortgages for buying a plot of land for a house, or commercial property can be easy, but taking help of mortgage brokers or other financial advisory services is a wise decision. Their expertise lets you explore the nitty gritty of the Dubai mortgage process.

Speaking of the process, you need to know how much you can borrow before you apply for a mortgage. So, calculate your mortgage in advance based on the price of the property, the loan term, and interest rate.

Process of Getting a Mortgage in Dubai


  • Once you have found the right type of mortgage for your needs, approach the bank directly or with the help of a broker.
  • Central Bank of the UAE has formulated some regulations on property loans. It requires a UAE national or an Expat to have a down payment of at least 20% of the property value below AED 5 million.
  • If the property value is above AED 5 million, this rate increases to 30%. It further increases to 35% if the financing is for the second or subsequent purchase of the property.
  • Nevertheless, the down payment of 50% is required irrespective of the property value if the purchase is made off plan.



  • You need a pre-approval. Once you have decided how much to borrow and repayment method, seeking a pre-approval is important for security purposes.
  • A bank emails you or sends you an official declaration stating that they have reviewed your application and it is approved.
  • This pre approval is valid for 60 days. It gives both the buyer and seller a sense of security. 

The buyer can start searching for a property without worrying about its finance. However, the seller confidently proceeds with sale if a buyer has pre-approval. 

Documents Required

The bank might have hidden costs associated with this, so it is important that you read everything carefully before signing the paperwork. Speaking of which, here are the documents you need as a UAE national to apply for mortgage:

  • Copy of passport, Visa and Emirates ID
  • Proof of employment which is the salary certificate
  • Bank statements from the past six months
  • Most recent credit card statements
  • Proof of address – either a copy of DEWA bill or a tenancy contract.


In Dubai, the difference in laws makes banks more flexible for loan applications. Your debt payments should not be more than 50% of your income. 

The cost of arranging a mortgage can be hefty. Apart from those mentioned below, there are other costs and fees associated with the mortgage. The costs and fees include 

  • The mortgage registration fee, which is 0.25% of the mortgage value.
  • Bank fees – property valuation fee, processing fee, insurance registration fee, and more hidden costs
  • Depending on mortgage, property value, and personal circumstances, the costs for mortgage insurance vary, but it is compulsory. So, loan protection insurance is also included.
  • If your account is outside of Dubai, it incurs transactional costs too. Thus, it is important to check with your bank what you will be charged for making such a huge international transfer covering fees and incidental costs.

Looking to buy a car? Read this article on How to Get a Car Loan in Dubai

Can Foreigners get a Mortgage in Dubai?

how to get mortgage loan in dubai

Most banks see foreign buyers as a risk when it comes to mortgage. Sometimes, paying a significant down payment to proceed is unavoidable. Based on the property and your personal circumstances, your options vary for getting a mortgage in Dubai. Speaking to a financial expert or brokers in advance can help.

Getting a pre-approval takes a couple of weeks, but gives you a fair idea of how much the bank is willing to lend. It lets you decide your budget before searching for a property. However, note that affordability is considered an important factor for loan eligibility. In many countries, your debt should not exceed 30% to 35% of your usual income. 

Do’s & Don’ts

mortgage in UAE

Mortgage loans are not easy, you should be well aware of your options. But, a few Do’s and Don’ts can help you with the process.


  • Do get a pre-approval before beginning your search for property. 
  • Do keep your financial records in order and turn in your requested documents within stipulated time.
  • Keep your mortgage lender informed of your financial situation.
  • Be educated about everything you need to know to make an informed decision during the process.
  • Hire a legal advisor or advocate to make the  legislative decisions for you or at least advise you.


  • Don’t sign any paperwork without going through all the terms and conditions of the bank.
  • Don’t finalize a broker without checking into their history and success rate, especially if you are an Expat.
  • Don’t quit or change your job because investors check on your employment status regularly.
  • Don’t spend money that you need for your repayment.
  • Don’t close credit card accounts or take cash advances on it if it is associated with your mortgage.

How to Get a Loan in Dubai

Getting a loan in Dubai is one of the most important things for people who are new to the country and need some initial cash flow to support their lifestyle and other needs. While there are a lot of banks in Dubai that offer loans, you have to find the one that suits your financial needs.

Before that, you have to understand the eligibility criteria, the documents required for the application, the process of application and other important details. In this article, we have covered all of these in detail. Make sure you read through this article till the end so that you get to learn exactly how you can get a loan in Dubai.

loan in dubai

Where can you get a loan in Dubai?

You can apply for a loan in a bank or a private lending company. There are different terms and conditions which have to be met before you get loans from a bank or a lending company. Understanding these terms and conditions in advance will help you go through the process with ease. Let’s start by understanding the eligibility and requirements for loan approval via banks.

What are the eligibility criteria for getting a bank loan in Dubai?

  • Applicant should be salaried/self-employed
  • Applicant should possess a valid passport  or a valid UAE National ID card 
  • Applicant should possess a valid residency visa for the UAE
  • Applicant should possess a letter of salary transfer in case it is asked by the bank
  • Applicant should have served at least six months of employment in the company
  • Applicant should have a working contract that outlasts the repayment period of the loan

What are the documents required?

  • National ID card (for UAE nationals)
  • Resident visa (for expatriates)
  • Proof of income

Some banks may require you to have a minimum salary of a certain amount. If you do not meet the salary requirement, you may not get a loan from that bank. In that case, you can opt for banks and financial institutions which do not have a minimum salary requirement


In most cases, you can apply for the loan online. However, you will have to visit the bank in person afterward. The process involves initial documentation for eligibility confirmation. Once that is done, banks follow some formal protocol and check the trust factors of the applicant. After this, the bank processes the loan within a few days.
There are a lot of banks that offer different types of loans in Dubai which include business loans and personal loans. There are also some private loan providers that can help you get loans. The application process for these private loan providers is very similar to that of banks. The difference could be in the eligibility criteria and the requirements. Private lenders have fewer requirements than banks. However, you have to make sure to compare the features of any financial institution before you apply for a loan. 

Ten Golden Rules to follow when Taking a Loan in Dubai 

  • Don’t borrow more than you can repay
  • Ensure timely and regular repayment of installments
  • Don’t borrow to invest or splurge
  • Take insurance with huge amount of loan
  • Keep shopping for cheaper rates on loans
  • Understand the loan documents properly
  • Substitute high cost loans
  • Repay loans before retirement
  • Keep your family or close ones in the loop while taking a loan
  • Keep loan tenure as short as possible

A word of caution

The ideal practice when applying for a loan is to approach a bank first. If the banks don’t approve of the loan for certain reasons, try getting the loan from private lending companies. There are companies that offer a loan on minimal documentation. However, you have to be careful and stay away from loan sharks. There are illegal loan providers in Dubai who constantly look for people desperate for loans. They offer loans at a very high interest rate and torture the borrower if they do not repay the money on time.

How to Get a Loan in Abu Dhabi

Do you want to get a loan in Abu Dhabi? If so, you have come to the right place. In this post, we have explained everything related to getting loans in Abu Dhabi. You can get loans to fulfill your personal goals, business goals, medical emergencies, and more. There are a lot of banks that offer loans in Abu Dhabi.

Choosing the right bank can be a daunting task. However, we have made this a little easier for you. In this article, you will find the best banks that offer loans in Abu Dhabi. After you finish reading this article, you will have a clear idea as to which bank to choose for getting loans. Let’s start by taking a look at some of the best banks that offer loans in Abu Dhabi.

Best banks that offer loans in Abu Dhabi

Now, let’s understand the process of loan approval in Abu Dhabi

Process for loan approval in Abu Dhabi

Obtaining a loan in Abu Dhabi is a simple process in today’s age. In earlier days, it was not that easy. The process was time-consuming, and sometimes it didn’t meet the purpose, especially when the loan was required urgently. Modern-day technology has made personal finance convenient, like never before. 

The process is quick and easy. In fact, applying for a loan from Abu Dhabi is similar to applying for a loan from any other place in the UAE. You can apply for loans from the official website of the bank you choose. If you meet the eligibility criteria, the loan gets approved in a few days.

Eligibility and qualifications for loan approval

To get a loan in Abu Dhabi, you need to be qualified and eligible. Here are some of the necessary qualifications and eligibility criteria for getting a loan in Abu Dhabi:

  • Valid Abu Dhabi residence permit
  • Clean credit history
  • Capacity to repay the loan on time
  • Government employee or employee of a firm approved by the lending bank
  • At least six months of employment in the company
  • Working contract outlasting the repayment period of the loan
NOTE: If you fail to meet the eligibility requirements, you can apply for a loan from private lenders. They do not ask for salary requirements and credit history.

Other important documents

  • National ID card (for UAE nationals)
  • Resident visa (for expatriates)
  • Proof of income

What happens if you Fail to pay your Debts in Abu Dhabi, UAE? 

Failing to pay three consecutive installments or six non-consecutive installments on the repayment of your personal loans or credit card facilities may be considered an event of default, in accordance with Article 4(4) of the Personal Loan Agreement format of the Central Bank of the UAE. 

“If the loan elapses and all the installments, interests and any other fees and expenses become due and payable immediately without having to give any notification or any court ruling and without prejudice to any other rights of the bank according to this agreement or in accordance with the law in the event that the borrower failed to pay three consecutive installments or six non-consecutive installments of the monthly installments without approval of the bank.” 

It should be noted that the dishonour of a cheque in the UAE is considered a criminal offence. This is in accordance with Article 401 of Federal Law No. (3) of 1987 on issuance of Penal Code of UAE, which states: “Detention or a fine shall be imposed on anyone who, in bad faith, gives a draft (cheque) without a sufficient and drawable balance or who, after giving a cheque, withdraws all or part of the balance, making the balance insufficient for settlement of the cheque, or if he orders a drawee not to cash a cheque or signs the cheque in a manner that prevents it from being cashed.”

Final Thoughts

Loans can help you overcome financial hurdles and help you achieve your goals. Getting the right loan is critical because you will have to bear the interest rates. Besides, some banks offer more privileges than others when you get a loan from them. So, make sure to compare the loan schemes before applying to any loan provider in Abu Dhabi.

If you are interested in personal loans in Abu Dhabi, you can read this article.

Best Personal Loans In Abu Dhabi

Are you looking forward to getting a personal loan in Abu Dhabi? If yes, you have come to the right place. In this article, we have provided information related to personal loans in Abu Dhabi.

Top Banks that offer personal loans in Abu Dhabi

  • Dubai Islamic Bank
  • United Arab Bank
  • Standard Chartered Bank
  • Citi Bank
  • Emirates Islamic
  • ADIB
  • RAK Bank
  • HSBC
  • ADCB
  • CBD
  • Emirates NBD

List of best personal loan options in Abu Dhabi

Personal Loan Rate of Interest Processing Fee Required Salary
Emirates NBD Personal Loan 2.69% 1% of the loan amount 5000 AED
United Arab Bank Personal Loan 2.87% 1% of the loan amount 7500 AED
RAK Bank Personal Loan 3.18% 1% of the loan amount 5000 AED
Standard Chartered Bank Personal Loan 3.55% 1% of the loan amount 30,000 AED
Citi Bank Salary Transfer Loan 3.73% 1% of the loan amount 8000 AED
Emirates Islamic Personal Loan 3.99% 1% of the loan amount 5000 AED
Commercial Bank of Dubai Personal Loan 5.50% reducing per annum 1% of the loan amount 10,000 AED

How to apply for personal loans in Abu Dhabi

Getting a personal loan in Abu Dhabi is an easy and hassle-free process in today’s time. In earlier days, getting a loan was difficult, and not everyone had access to opportunities for getting loans instantly. However, times have changed. The advancement in technology has made personal finance more straightforward and more convenient than ever before. 

loan abu dhabi

UAE is known for its excellent Financial Services. Some of the banks of UAE are regarded to be the leading banks in the world. Considering this factor, we can say that getting a personal loan in Abu Dhabi is very simple. The process of getting a loan is similar to that of the loan application procedure in any other city of the UAE.

Here’s how you can apply for the loan:

  1. Collect information about the requirements, eligibility criteria and other important details.
  2. Go to the official website of the bank or visit a branch office in person.
  3. Fill up the application form with all required details.
  4. Submit the form with all the required documents and wait for the approval.

If you are a qualified borrower, you can get access to loans within a few days of application. The duration of the processing of the loan depends on the company or the bank you are getting the loan from. 

Eligibility and qualifications for personal finance

To get a personal loan in Abu Dhabi, the borrower needs to be qualified and eligible. Here is a list of basic qualifications and eligibility criteria for borrowers of personal loans:

  • The borrower needs to have a clean credit history. Banks in Abu Dhabi a very strict about this.
  • The borrower has to have the capacity to repay the loan regardless of the fact that their employees for self-employed.
  • The borrower needs to have a valid Abu Dhabi residence permit regardless of their nationality.
  • The borrower can be a government employee or employer of a firm approved by the lending bank.
  • Employed applicants must have completed employment for at least 6 months.
  • Employed applicants need to have a working contract outlasting the repayment period of the loan.


To get your loan application approved without any hassle, you have to fulfill certain document requirements. Here are the two major documents required for accessing personal loans:

  1. Proof of Identity

    • National ID card for UAE nationals
    • Resident visa for foreigners
  1. Proof of income

    • Certificate from the employer stating salary

Final thoughts

Personal loans help you fulfill your financial needs be it related to your personal goals, business goals or medical emergencies. There are different types of personal loans and you have to decide the right loan for you before you start comparing them.

If you are interested in reading about How to get Personal Loans in UAE without company listing, click to read more. 

About Us

UAELoanBazaar.com is an online authority on loans, credit cards, banks and the general financial industry in the UAE and the emirate of Dubai. We strive to provide up-to-date and accurate information on the financial industry in the UAE. Our aim is to become a one-stop shop for your personal finance needs in the UAE market.