June 5, 2023

Where to Apply for an Easy Personal Loan in the UAE

There are many reasons that expats living in the UAE might need a loan. It could be to fund a large purchase like a home or car, for travelling or to pay for a big event like a wedding. It is essential to know where to go to get the best possible deal on your personal loan, and often it is best to look for expat-specific personal loan offers.  

You should always do your research when it comes to finding a personal loan in the UAE. There are many stellar quality banks in the country, with excellent offers and rates on loans, so you’re sure to find the right loan to suit your needs.  

FAB 

FAB offers excellent flexibility in personal loans for expats, with repayment schedules of up to four years. They also offer excellent interest rates and a fast approval time, making them ideal for anyone who needs a personal loan quickly. You’ll also have to deal with less paperwork than many of the other options available, which only adds to their incredible convenience.  

Emirates NBD 

Emirates NDB offers highly attractive loan options for expats, with a maximum loan amount of AED 2,000,000 spread across three years. Their interest rates are highly competitive for expat loans and require a minimum of AED 5,000 salary. This makes them one of the banks that require a salary transfer to utilize their loan services but opening an account with them is free and easy to do.  

ADCB 

ADCB is one of the best-known banks in the UAE and is ideal for any expat looking for an easy personal loan in UAE. With interest rates starting at 5.75%, ADCB is one of the best value banks to choose for a personal loan. They also offer an overdraft service of two times your salary rate, giving you flexibility and options for how you lend money.  

Noor Bank Personal Finance 

Noor Bank requires a minimum salary of AED 8,000 to access their loan options, with flat rates of low interest on many of their personal loan solutions. You can also access loans of as much as 20 times your salary, making them the ideal combination of value for money and flexible loan amount options. With a pre-approval time of just 30 minutes, Noor Bank could be the perfect option for a quick and painless loan application.  

ADIB 

ADIB require a minimum salary of AED 8,000 and provides loans for repayment over a maximum of four years. They also offer excellent flexibility in repayments, with the option to delay installations for free twice per year. With low-interest rates and zero processing fees, ADIB is a perfect choice for any expat in the UAE.  

Final Thoughts 

The process of getting a personal loan can often feel daunting, but all of the above providers make the process quick and easy. The option you choose will depend on how much loan you require and how long you want to be paying back your loan. You should always do research into the bank you choose for your personal loan and consider critical options such as salary transfer and flexible repayment options.