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Personal Loan is a loan taken by an individual to fulfil financial emergencies or any personal expenses. It’s an unsecured loan i.e. lacks collateral. It is provided by an entity (Bank or Financial Institution) to another entity at an interest rate, and evidenced by a promissory note which specifies, among other things, the principal amount of money borrowed, the interest rate the lender is charging, and date of repayment.
Applying for Personal Loan in UAE to fulfil your urgent financial requirements isn't that difficult but you might face problems if you are applying for the first time. You might get confused in selecting the right institution for Personal Loan which offers you lowest interest rates and is best for you.
Gulf Finance helps you to fetch all the important information that you need to get a Personal Loan, at one place. Easily apply for Salary Transfer, Non Salary Transfer or Buyout Loans in Dubai. All you need to do is to fill your details in Personal Loan application for in the website and Bankers from all major banks will contact you instantly to assist you with your application. Get a quote for your Personal Loan in 60 minutes!
Key Features for Personal Loan in UAE
- Interest rates in UAE starts from 5.10% p.a. on reducing balance
- For example, a loan amount of AED 100,000 availed for 12 months with an interest rate of 5.10% per annum can be repaid as a total of AED 102,720
- Minimum loan tenor is 6 months and maximum is 48 months
- Both Salary Transfer and Non Salary Transfer Loan available
- Minimum monthly Income: AED 5,000
- Maximum loan amount: AED 1000000
Personal Loan for Listed or Non Listed Company Employees
All Individuals working in Listed or Non Listed Company can apply for Loan or Credit Card at Gulf Finance.
Employees working in Listed company may apply for a Personal Loan at much lesser interest rates as compare to Non listed company. Listed company employees may get approval mush faster and with least documents as most of the Listed company HR's are directly connected with the banks for any financial assistance for there staffs. Minimum Salary requirement is AED 5000.
Non Listed Company employees also can apply for a Personal Loan , Interest rate may slightly higher in comparison to Listed company . Documentation may also vary to provide a loan to a Non Listed company employee depends on Bank to Bank.
You can compare and calculate the estimated installment using our Loan Calculator and proceed with your best choice for Salary Transfer Loans , Buyout Loans and Loans without Salary Transfer. Our effort is to reduce the gap between a customer and a banker, to make everything hassle free and transparent.