Personal Loan

Personal loans today are the preferred means of short term credit in UAE. People prefer taking personal loans to use their credit cards for large expenditures like travel, purchasing large business assets, meeting expenses like weddings, college tuition, etc. The loan amounts are based on the monthly salary and the length of the employment of the applicant. The minimum salary should be AED 5000.

Documents Required :

  • Salary Certificate.
  • Copy of Valid Passport.
  • Proof of UAE Residence.
  • 3 months Bank Statement.


Companies that have a global presence or have been established in the UAE for a while tend to be listed with a local bank. This means they have a proven credit history or track record of stability and reliance in the country. All UAE banks are consistent in that a company must have been trading for a minimum of two years within the Emirates or generate a set level of revenue. They take into consideration the number of employees, revenue of the company, etc. When you apply for any financial product almost every bank will ask who you work for and if they are a listed company.


If the company you are working for is not listed in any of the banks in the UAE, it is still possible for you get a loan. You will have to show a proof of sustained income, but there will be limitation on the funds you can borrow. It is an added advantage if you are transferring your salary to the bank with whom you are applying for a personal loan.


In this kind of a personal loan, there is an agreement between the loan lender and the borrower that all his/her salary would be credited to that specific bank only. It requires your employer to sign–in the undertaking as well.


  • Copy of Passport , UAE Emirates ID
  • UAE Residency Visa
  • Bank Statement for the past 3-6 months (may vary depending on the bank)
  • Salary Transfer Letter
  • Liability Letter
  • Salary Certificate
  • 2 Security Checks from your Salary account (depends on the bank)


Usually banks require the customer to have a salary transfer account with the bank in order to avail a personal loan from the bank. But some banks do offer personal loans for customers who don’t have a salary account with the bank. These personal loans do not require collateral but require the applicant to bring forth security cheques as a means of security to the disbursing bank. Many know these types of loans as Post Dated Cheque Loans which are abbreviated as PDC Loans. These PDC personal loans have an easy application procedure and are quickly disbursed compared to salary transfer loans. These loans in Dubai require that you have a 3 months bank statement but the interest rates are higher.