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Do not apply if Salary is less than AED 5,000*
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.
Salary Transfer Personal Loan in DubaiLoan up to 20 times salary
Salary Transfer Loan is considered as a secured Personal Loan in Dubai. In Salary Transfer Loan the applicant needs to transfer his/her Salary to the Lending Bank to avail of any Loan services. It gives you the privilege to avail high volume of Loan amounts i.e up to 20 multiples of your salary at a lower Interest Rate in comparison to Loans without any salary transfer where the Interest Rate charged is quite high.
Transferring your salary to a lending bank for a loan in Dubai also gives you other benefits like Pre-approved Credit Cards, Over Draft facilities, and much more. Salary Transfer reduces the risk factor for the bank to lend and hence there are more chances of getting your loan approved.
Mostly Personal loans in Dubai with salary transfers are designed for the people working under an approved list of companies by the bank. However, there are few banks that offer Non Salary Transfer Loans also.
Features and Benefits of Salary Transfer Loan in UAE
There is a list of benefits to opting for a Salary Transfer Loan in the UAE:
Loan Amount: Most of the Banks in the UAE offer up to 20 times a Salary loan if the applicant is agreed to transfer monthly salary to the lending bank. Hence, the applicant can avail high loan amount by opting for a Salary transfer loan in UAE.
Low-Interest Rate: Salary Transfer Loan in UAE is considered as a secured loan where the applicant transfers monthly salary to the lending bank. This makes banks offer lower interest rates as compared to a personal loan without salary transfers.
No Collateral or Guarantor: As the bank is able to debit the monthly installment payment through direct debit, there is no collateral or guarantor needed for a Salary transfer loan in UAE.
Eligibility for 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.
Salary transfer Mandatory.
Documents for Salary Transfer Loan
KYC Documents – Passport and Visa Copy, Emirates ID.
Income Proof – Salary Certificate or Payslips.
Latest 3-6 Months Bank statement.
Salary Transfer Letter.
Top Bank Providing Salary Transfer Loan
| Personal Loan Providers | Reducing Interest Rate | Minimum Salary Required | Maximum Loan Amount |
|---|---|---|---|
| ADCB Personal Loan | 6.25% | AED 5000 | - |
| RAKBANK Personal Loan | 4.99% | AED 5000 | - |
| Emirates Islamic Bank Personal Loan for UAE Nationals | NA | AED 10000 | AED 4 million |
| Emirates NBD Personal Loan | 5.49% | AED 5000 | AED 4 million |
| Dubai Islamic Bank (DIB) | 8.99% | AED 5000 | AED 4 million for Emiratis, AED 2 million for expats |
| Emirates Islamic Bank Personal Loan | 6.47% | AED 5000 | AED 4 million for Emiratis, AED 2 million for expats |
1. ADCB Personal Loan
ADCB offers personal loan with the following:
| Minimum salary requirement: AED 5000 | Maximum Loan Amounts: – |
| Sharia-Compliant: YES | Reducing Interest Rate: 6.25% |
ADCB Personal Loan Features:
High salary multiples
Loan consolidation available
Shariah-compliant
Free ADCB Credit Card
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
2. RAKBANK Personal Loan
RAK Bank offers personal loan with the following:
| Minimum salary requirement: AED 5000 | Maximum Loan Amounts: – |
| Sharia-Compliant: NO | Reducing Interest Rate: 4.99% |
RAK Bank Personal Loan Features:
High salary multiples
Top up loan after 1 year
Quick approvals
Loan takeovers from other banks
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
3. Emirates Islamic Personal Loan for UAE Nationals
Emirates Islamic offers personal loan for UAE nationals with the following:
| Minimum salary requirement: AED 10,000 | Maximum Loan Amounts: – Up to AED 4 Million |
| Sharia-Compliant: YES | Reducing Interest Rate: 4.66% |
EIB Personal Loan Features for UAE Nationals:
Low profit rate
Simple, quick approval process
Murabaha structure followed
Nominal processing fees
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
4. Emirates NBD Personal Loan
Emirates NBD offers personal loan with the following:
| Minimum salary requirement: AED 5,000 | Maximum Loan Amounts: – Up to AED 4 Million |
| Sharia-Compliant: YES | Reducing Interest Rate: 5.69% |
Emirates NBD Personal Loan Features for UAE Nationals:
Low interest rate
Quick approval and disbursement
Zero Insurance Fee
Nominal processing fees
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
5. Dubai Islamic Bank Personal Loan
Dubai Islamic Bank offers personal loan with the following:
| Minimum salary requirement: AED 5,000 | Maximum Loan Amounts: – AED 4 million for Emiratis, AED 2 million for expats |
| Sharia-Compliant: YES | Reducing Interest Rate: 8.99% |
Dubai Islamic Bank Personal Loan Features:
Flexible Repayment tenors
Simple Documentation
Quick Processing
First EMI payment Up to 120 days
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
6. Emirates Islamic Bank Personal Loan for Expats
Emirates Islamic Bank offers personal loan for Expats with the following:
| Minimum salary requirement: AED 5,000 | Maximum Loan Amounts: – AED 2 million |
| Sharia-Compliant: YES | Reducing Interest Rate: 6.47% |
Emirates Islamic Bank Personal Loan Features:
Low profit rate
Simple, quick approval process
Extended repayment periods of up to 4 years
Consolidate all debts into an easy payment plan
Murabaha structure followed
Eligibility:
Minimum age of the applicant should be 21.
Salary transfer required
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.
Frequently Asked Questions
How many multiples of salary I can avail with Salary Transfer Loan?
As per UAE Central Bank regulations, Banks can offer a maximum of up to 20 times of salary loan.
What are the documents required to avail a Salary Transfer loan?
KYC Documents – Passport and Visa Copy, Emirates ID.
Income Proof – Salary Certificate or Payslips.
Latest 3-6 Months Bank statement.
Salary Transfer Letter.
Do Banks check AECB or Credit report for applying Salary Transfer Loan in UAE?
Yes, a credit check is mandatory for all categories of loans in the UAE.
What is the difference between Flat Rate vs Reducing Rate?
In the Flat rate method, the interest rate is calculated on the principal amount of the loan whereas the Reducing interest rate is calculated only on the loan amount outstanding on a monthly basis Fixed interest rates are generally lower than the reducing balance rate.
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