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

All That You Need To Know For Personal Loan in UAE on 4000 Salary

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.

documents required

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

LEAVE A REPLY

Please enter your comment!
Please enter your name here