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Non Salary Transfer LoanLoan up to 8 times salary
Apply for a Personal Loan in UAE without the hassle of transferring your salary to the lending bank. A loan without salary transfer is possible now.
Get high loan volume at competitive interest rates. All expatriates and UAE nationals may apply for a loan without a salary transfer. The quick process with limited documents.
Basically, these type of loans comes with certain restrictions as it is considered as an unsecured loan in UAE. As a non-salary transfer loan facility increases the risk factor for the bank to lend, the interest rate is quite high as compared to salary transfer loans in UAE.
How do UAE Cash Loans help to apply for a Loan without Salary Transfer?
A lot of people are not aware of the facility of personal loans in UAE without salary transfer due to lack of information. With uaecashloans.com it’s very easy to find a loan without salary transfer in a fraction of a second. You can compare the various interest rates provided by the banks and financial institutions and can choose the best that suits your need.
Personal Loan without company listing
A lot of people in the UAE faced rejection for their loan applications just because the employer they work for is not listed with the bank or the financial institution. But now the time has changed, availing of personal loans without company listing is no more difficult in UAE. Small and medium-size company employees may also apply for personal loans without company listing or may request the bank or financial institution to list the company. To list a company the bank or the financial institution may ask few documents from the employer like Trade Licence, Employee list, and company audit report.
Mostly personal loans without company listing may be applied through the non-salary transfer loan category. The interest rates might be slightly higher than salary transfer loans but here company listing is not mandatory. The loan applicant can avail loan up to 20 times his salary subject to bank eligibility criteria.
Features and Benefits of Non Salary Transfer Loan in UAE
There is a list of benefits to opting for a Non Salary Transfer Loan in the UAE:
No hassle of Salary Transfer: Transfering your salary to the lending bank is not required with a non-salary transfer loan. No hassle of opening a new account with the lending bank and completing related formalities. Get up to 8 multiples of salary loans without transferring your salary.
Easy Documentation: Easy documentation process with applicant’s KYC and income proof documents only. Bank may ask for additional documents on case to case basis.
Fast Approval: Quick approvals and fast disbursal of loans.
Eligibility for Non-Salary Transfer Loan
Minimum fixed income of AED 5,000.
Minimum age of the applicant should be 21.
Good and healthy Credit Score or Credit History.
Minimum 6 months at the present company.
Bank account with regular salary credit.
Documents for Non-Salary Transfer Loan
KYC Documents – Passport and Visa Copy, Emirates ID.
Income Proof – Salary Certificate or Payslips.
Latest 3-6 Months Bank statement.
Security Cheque as per bank’s discretion.
Top Banks offering Personal Loan in UAE without Salary Transfer
| Personal Loan Providers | Reducing Interest Rate | Minimum Salary Required | Maximum Loan Amount |
|---|---|---|---|
| Emirates Islamic Personal Finance for UAE Nationals | 5.5% | AED 10,000 | AED 4,000,000 |
| Citibank Personal Installment Loan | 13.99% | AED 8,000 | AED 175,000 |
| Dubai Islamic Bank Personal Loan | 8.99% | AED 3,000 | AED 4 million for Emiratis AED 2 million for Expats |
| Finance House Personal Loan | 20% | AED 5,000 | AED 250,000 |
| Deem Finance Personal Finance | 15.99% | AED 5,000 | NA |
1. Emirates Islamic Personal Finance for UAE Nationals
Emirates Islamic Bank Personal Loan without salary transfer Features:
| Minimum salary requirement: AED 10,000 | Maximum Loan Amounts: – AED 400,000 |
| Sharia-Compliant: YES | Reducing Interest Rate: 5.50% |
| Processing fee is 2.50% | Early Settlement Fees: 1% |
High salary multiples
The processing fee is 2.50% of the finance amount (Min AED 500, Max AED 2,500)
This finance is sharia-compliant
Pre-approved credit card
Eligibility:
The minimum age of the applicant should be 21.
Salary transfer not required.
2. Citibank Personal Installment Loan
Citibank Personal Loan without salary transfer Features:
| Minimum salary requirement: AED 8,000 | Maximum Loan Amounts: 175,000 |
| Sharia-Compliant: NO | Reducing Interest Rate: 13.99% |
| Processing Fee: 0% | Early Settlement Fee: 1% of the remaining balance or AED 10,000 (whichever is lower) |
Easy apply with ID only
Loans of up to 8x salary
Quick approvals
Eligibility:
The minimum age of the applicant should be 21.
Salary transfer not required
3. Dubai Islamic Bank Personal Loan
Dubai Islamic Bank Loan without salary transfer Features:
| Minimum salary requirement: AED 3,000 | Maximum Loan Amounts: – AED 4 million for Emiratis AED 2 million for Expats |
| Sharia-Compliant: YES | Reducing Interest Rate: 8.99% |
| Processing Fee: 1% | Early settlement Fees: AED 1,050 – AED 2,620 |
This finance is sharia-compliant
Simple, quick approval process
Murabaha structure followed
Nominal processing fees
Eligibility:
The minimum age of the applicant should be 21.
Salary transfer not required.
4. Finance House Personal Loan
Finance House Personal Finance without salary transfer Features:
| Minimum salary requirement: AED 5,000 | Maximum Loan Amounts: – Up to AED 4 Million |
| Sharia-Compliant: No | Reducing Interest Rate: 20% |
| Processing Fee: 1% (min AED 500, max AED 2,500) | Early settlement Fees: 1% of outstanding balance (max AED 10,000) |
Free for life credit card
Flexible repayment period
Available to UAE Nationals & expatriates
Simple and hassle free documentation
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer not required.
5. Deem Finance Personal Finance
Deem Finance Personal Loan without salary transfer Features:
| Minimum salary requirement: AED 5,000 | Maximum Loan Amounts: NA |
| Sharia-Compliant: No | Reducing Interest Rate: 15.99% |
| Processing Fee: 1% (min AED 500, max AED 2,500) | Early Settlement Charges: 1.05% of the remaining balance |
Flexible Repayment tenors
Less paper work
Quick Processing
Affordable monthly instalments
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer not required
Frequently Asked Questions
Can I avail a non-salary transfer personal loan without a bank statement?
No. A bank statement with regular salary credits is a mandatory document to apply for a personal loan without salary transfer in UAE.
What is the minimum salary requirement to apply for a Loan without a salary transfer in UAE ?
The minimum salary requirement to apply for a loan without salary transfer in UAE starts from AED 3000. However, it’s the sole discretion of the bank and changes from time to time.
Do Banks check AECB or Credit report for applying Non-Salary Transfer Loan in UAE?
Yes, all banks and financial institutions in UAE do check your Credit Score to evaluate your creditworthiness before providing any credit facility.
My company is not listed in any bank. Can I apply for a loan ?
Yes, people working in a Non-Listed Company may also apply for a loan without a salary transfer in UAE.
Is there any minimum work experience required to be eligible for a personal loan in UAE without salary transfer?
Yes, a minimum of 6 months in the present company is required to be eligible for a non-salary transfer loan in UAE.
Personal Loan Categories
Personal Loan Bank Wise
Disclosure Policy:
“UAE Cash Loans” is a Loan Comparison and lead-generating portal that connects consumers with third-party lenders. We do not charge any fee from the applicants. However, we may receive commissions from the banks or agents we refer you to.
The minimum Annual Percentage Rate (APR) is 2.79%, and the maximum Annual Percentage Rate (APR) is 24.99% as per eligibility.
The minimum loan repayment tenor is 6 months and the maximum is 48 months.
Representative Illustration:
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.
Processing Fee: 1% of Loan amount with min. AED 500 and up to a max. of AED 2,500.