If you are planning to apply for a personal loan then this is a must read. In spite of the fact that there are many money-related alternatives for individuals in UAE, personal loans have gotten one of the most favoured transient credits. personal loans are something that we all need sooner or later in our lives, whatever the reasons are. Many personal loan options like ADCB personal loan or RAKBANK Personal Loan are available in the UAE. Here we are listing top 5 best personal loans in the UAE for 2020. The following banks not only provide loans at minimal interest rates but also come with several additional benefits. Read on..
Abu Dhabi Islamic Bank Personal Finance
ADIB Personal Finance offers a flat profit rate of 3.72% for UAE Nationals and 3.85% for Expatriates. Moreover,
the minimum monthly salary required is only AED 8,000 for both UAE Nationals and Expats. If that is not enough to convince you, ADIB also offers quite a few additional features for its borrowers, some of which are as follows:
- Free pre-approved ADIB VISA Cashback Card
- First instalment holiday period of up to 90 days
- Two free instalment postponements every year
ADCB Personal Loan
ADCB provides attractive loan options to both Expats and UAE nationals. Flexible, low-cost loans are offered for expatriates residing in UAE.
The interest rates start at 4.99% and range all the way up to 14%.
The minimum salary requirement is AED 6,000.
Dubai Islamic Bank Personal Finance
Apart from Sharia-compliant personal finance, the Dubai Islamic Bank also offers various other personal loan products in UAE at the most competitive profit rates.
The profit rates range from 11% to 20%.
DIB provides one of the lowest salary requirement of AED 3,000.
RAKBANK Personal Loan
RAKBANK provides personal loan amounts at low-interest rates, with flexible repayment tenure up to four years for expatriates and UAE Nationals.
Interest rates start from 5.99% and
the minimum monthly salary requirement in AED 5,000.
Emirates Islamic Bank Personal Loan
Apply for a Personal Loan with Emirates Islamic Bank. It offers personal loans at an interest rate that is as low as 3.99%. The bank asks for a minimum salary of AED 10,000 per month while providing the following features:
- Flexible and extended repayment periods of up to 4 years
- A simple and quick approval process
- High finance amount of up to AED 4,000,000 for UAE Nationals and AED 2,000,000 for Expats