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.
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:
- Collect information about the requirements, eligibility criteria and other important details.
- Go to the official website of the bank or visit a branch office in person.
- Fill up the application form with all required details.
- 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.
Requirements
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:
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Proof of Identity
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- National ID card for UAE nationals
- Resident visa for foreigners
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Proof of income
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- 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.
