{"id":3199,"date":"2022-05-11T07:03:36","date_gmt":"2022-05-11T07:03:36","guid":{"rendered":"https:\/\/www.squareyards.ae\/blog\/?p=3199"},"modified":"2022-10-17T08:05:28","modified_gmt":"2022-10-17T08:05:28","slug":"personal-loan-in-the-uae-misart","status":"publish","type":"post","link":"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart","title":{"rendered":"An All-inclusive Guide to Apply for a Personal Loan in the UAE"},"content":{"rendered":"<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Life is a roller-coaster ride. There are many ups and downs. A\u00a0 personal loan in the UAE can help you get out of bad a situation. A personal loan is a good way to deal with a financial crisis. It prevents the trouble of irregular interest rates demanded by the local moneylenders. Applying for a personal loan in Dubai has never been easier than it is now. The required documents and the eligibility criteria are simple to meet. In this blog, we will walk you through &#8220;how to apply for a personal loan in the UAE?&#8221;.<\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_40 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" area-label=\"ez-toc-toggle-icon-1\"><label for=\"item-6a0af710679d5\" aria-label=\"Table of Content\"><span style=\"display: flex;align-items: center;width: 35px;height: 30px;justify-content: center;direction:ltr;\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/label><input  type=\"checkbox\" id=\"item-6a0af710679d5\"><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Eligibility_Criteria_for_a_Personal_Loan_in_the_UAE\" title=\"Eligibility Criteria for a Personal Loan in the UAE\">Eligibility Criteria for a Personal Loan in the UAE<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Minimum_and_Maximum_Age_Limit\" title=\"Minimum and Maximum Age Limit\">Minimum and Maximum Age Limit<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Required_Salary_Income_for_a_Personal_Loan_in_the_UAE\" title=\"Required Salary Income for a Personal Loan in the UAE\">Required Salary Income for a Personal Loan in the UAE<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Employment_Background\" title=\"Employment Background\">Employment Background<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#United_Arab_Emirates_Residency\" title=\"United Arab Emirates Residency\">United Arab Emirates Residency<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Salary_Transfer\" title=\"Salary Transfer\">Salary Transfer<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#What_are_the_Types_of_Personal_Loans_in_the_UAE\" title=\"What are the Types of\u00a0 Personal Loans in the UAE?\">What are the Types of\u00a0 Personal Loans in the UAE?<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_for_Expats\" title=\"Personal Loan for Expats\">Personal Loan for Expats<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_Without_Company_Listing\" title=\"Personal Loan Without Company Listing\">Personal Loan Without Company Listing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_Without_Salary_Transfer\" title=\"Personal Loan Without Salary Transfer\">Personal Loan Without Salary Transfer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_With_Salary_Transfer\" title=\"Personal Loan With Salary Transfer\">Personal Loan With Salary Transfer<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_for_UAE_Nationals\" title=\"Personal Loan for UAE Nationals\">Personal Loan for UAE Nationals<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_for_Self-employed_Professionals\" title=\"Personal Loan for Self-employed Professionals\">Personal Loan for Self-employed Professionals<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Personal_Loan_Interest_Rate_in_the_UAE\" title=\"Personal Loan Interest Rate in the UAE\">Personal Loan Interest Rate in the UAE<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Flat_Interest_Rate\" title=\"Flat Interest Rate\">Flat Interest Rate<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Reducing_Interest_Rate\" title=\"Reducing Interest Rate\">Reducing Interest Rate<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Procedure_to_Apply_for_a_Personal_Loan_in_the_UAE\" title=\"Procedure to Apply for a Personal Loan in the UAE\">Procedure to Apply for a Personal Loan in the UAE<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-18\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Via_Bank_Branches_Offline_Mode\" title=\"Via Bank Branches (Offline Mode)\">Via Bank Branches (Offline Mode)<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-19\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Via_Online_Portal\" title=\"Via Online Portal\">Via Online Portal<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-20\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Dos_and_Donts\" title=\"Dos and Don&#8217;ts\">Dos and Don&#8217;ts<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-21\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><ul class='ez-toc-list-level-3'><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-22\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#Is_it_easy_to_get_a_personal_loan_in_Dubai\" title=\"Is it easy to get a personal loan in Dubai?\">Is it easy to get a personal loan in Dubai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-23\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#What_is_the_minimum_salary_to_get_a_personal_loan_in_Dubai\" title=\"What is the minimum salary to get a personal loan in Dubai?\">What is the minimum salary to get a personal loan in Dubai?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-24\" href=\"https:\/\/www.squareyards.ae\/blog\/personal-loan-in-the-uae-misart\/#How_much_loan_can_I_get_in_Dubai\" title=\"How much loan can I get in Dubai?\">How much loan can I get in Dubai?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Eligibility_Criteria_for_a_Personal_Loan_in_the_UAE\"><\/span>Eligibility Criteria for a Personal Loan in the UAE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">It becomes easy to get a personal loan, if the individual is working for one of the companies that are authenticated by a specific bank. However, if the company you are currently working with is not listed with a\u00a0 specific bank, then it will be a bit challenging to get a personal loan in the UAE. Following are the eligibility criteria for a personal loan in the United Arab Emirates :<\/span><\/p>\n<p><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Eligibility-Criteria-for-a-Personal-Loan-in-the-UAE.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3201 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Eligibility-Criteria-for-a-Personal-Loan-in-the-UAE.jpg\" alt=\"Eligibility Criteria for a Personal Loan in UAE\" width=\"1000\" height=\"601\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Eligibility-Criteria-for-a-Personal-Loan-in-the-UAE.jpg 1000w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Eligibility-Criteria-for-a-Personal-Loan-in-the-UAE-300x180.jpg 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Eligibility-Criteria-for-a-Personal-Loan-in-the-UAE-768x462.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Minimum_and_Maximum_Age_Limit\"><\/span>Minimum and Maximum Age Limit<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The minimum and maximum age limits for eligibility are 21 to 65, respectively. An individual should meet the minimum and maximum age requirements to get a personal loan. If a person is younger than 21 years and older than 65 years of age, then the person won\u2019t be eligible for a personal loan in Dubai.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Required_Salary_Income_for_a_Personal_Loan_in_the_UAE\"><\/span>Required Salary Income for a Personal Loan in the UAE<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The minimum required salary for a loan in Dubai is around AED 2,500 to AED 4,000. However, the minimum salary requirement is not a standard for every bank. It is recommended to contact your bank to get further details about the minimum salary requirements for a personal loan.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Employment_Background\"><\/span>Employment Background<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Getting a loan while being unemployed falls into different categories and is a bit more complex. Several banks in the United Arab Emirates have a term where the applicant must have been employed for a particular length of service to get a personal loan in Dubai. The banks have this term to ensure the borrower has a strong employment background and is able to pay back the loan amount.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"United_Arab_Emirates_Residency\"><\/span>United Arab Emirates Residency<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">compared to ex-pats, It is easier to get a personal loan in Dubai if you are a UAE national. The personal loan interest rate in the UAE is lower for permanent residents than it is for ex-pats and doesn&#8217;t require additional documentation.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Salary_Transfer\"><\/span>Salary Transfer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Banks in the United Arab Emirates offer personal loans for both salary transfer and without salary transfer accounts. Few banks allow the applicants to make the salary transfers with the bank of their choice. However, for numerous banks, the salary transfer letter is one of the eligibility criteria for getting a personal loan in the UAE.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Note:<\/strong><\/span><i><span style=\"font-weight: 400;\"> Having a current account in an authorized UAE bank is a must.<\/span><\/i><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"What_are_the_Types_of_Personal_Loans_in_the_UAE\"><\/span>What are the Types of\u00a0 Personal Loans in the UAE?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Types-of-Personal-Loans-in-the-UAE.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3202 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Types-of-Personal-Loans-in-the-UAE.jpg\" alt=\"What are the Types of\u00a0 Personal Loans?\" width=\"1000\" height=\"668\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Types-of-Personal-Loans-in-the-UAE.jpg 1000w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Types-of-Personal-Loans-in-the-UAE-300x200.jpg 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Types-of-Personal-Loans-in-the-UAE-768x513.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In the UAE, both ex-pats and UAE nationals can get a personal loan. The types of personal loans in the UAE are as follows:<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_for_Expats\"><\/span>Personal Loan for Expats<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Those people who live in the UAE for job and business purposes but don\u2019t have permanent residence can also avail of a personal loan at low-interest rates.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_Without_Company_Listing\"><\/span>Personal Loan Without Company Listing<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">This loan segment is specially designed for professionals who are working in a start-up or in other non-listed companies. However, the salary transfer letter is a basis for a personal loan in the UAE.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_Without_Salary_Transfer\"><\/span>Personal Loan Without Salary Transfer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">There are several loan lenders that make the loan requirement flexible by not making the applicant provide a salary transfer letter in the respective bank to obtain a personal loan.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_With_Salary_Transfer\"><\/span>Personal Loan With Salary Transfer<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Several loan providers have a term of getting a salary transfer letter to the bank in order to get the personal loan instantly. This feature makes the loan more secure for the bank.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_for_UAE_Nationals\"><\/span>Personal Loan for UAE Nationals<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The requirement for a personal loan is more favourable for UAE nationals, as additional address proof documents and other extra paperwork are not required.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Personal_Loan_for_Self-employed_Professionals\"><\/span>Personal Loan for Self-employed Professionals<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Those people who are working on their own businesses can also apply for a personal loan in the UAE at certain financial institutions and enjoy great interest rates.<\/span><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Personal_Loan_Interest_Rate_in_the_UAE\"><\/span>Personal Loan Interest Rate in the UAE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Personal-Loan-Interest-Rate-in-the-UAE.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3203 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Personal-Loan-Interest-Rate-in-the-UAE.jpg\" alt=\"Personal Loan Interest Rate \" width=\"1000\" height=\"668\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Personal-Loan-Interest-Rate-in-the-UAE.jpg 1000w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Personal-Loan-Interest-Rate-in-the-UAE-300x200.jpg 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Personal-Loan-Interest-Rate-in-the-UAE-768x513.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The additional charges that are levied on the principal loan amount are known as the personal loan interest rate. There are basically two types of interest rates applicable to the personal loan in the UAE:<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Flat_Interest_Rate\"><\/span>Flat Interest Rate<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The interest rate that remains constant throughout the loan tenure is known as flat interest rate. For instance, if the initial interest rate was about 2.63%, it will remain at 2.63% till the very end of the loan tenure.<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Reducing_Interest_Rate\"><\/span>Reducing Interest Rate<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Reducing interest rate keeps lessening with the payment of each instalment. However, the reduction in interest in the UAE is charged on the outstanding principal loan amount. The reduction amount ranges from 5.24% to 39.99%. It is recommended to compare the loan online to acquire the lowest interest rate on personal loans in the UAE.<\/span><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Procedure_to_Apply_for_a_Personal_Loan_in_the_UAE\"><\/span>Procedure to Apply for a Personal Loan in the UAE<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Applying for a personal loan in Dubai is simple. The below-mentioned steps will guide you on how to apply for a personal loan via offline and online mode:<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Via_Bank_Branches_Offline_Mode\"><\/span>Via Bank Branches (Offline Mode)<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The steps to apply for a personal loan in Dubai via bank branches are as follows:<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Step 1 :<\/strong> Visit your preferred branch of the bank.\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Step 2 :<\/strong> Fill out the form details correctly.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\"><strong>Step 3 :<\/strong> Get the assistance of the bank or customer care representative to know more about the personal loan interest rate in the UAE.\u00a0<\/span><\/p>\n<ul>\n<li style=\"text-align: left;\">\n<h3><span class=\"ez-toc-section\" id=\"Via_Online_Portal\"><\/span>Via Online Portal<span class=\"ez-toc-section-end\"><\/span><\/h3>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Applying for a personal loan via an online portal is quick and convenient. It gives you the facility to compare numerous interest rates from different banks before applying for a personal loan in Dubai. Post getting your desired interest rate, you can initiate the loan procedure with the same online portal.<\/span><\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"Dos_and_Donts\"><\/span>Dos and Don&#8217;ts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Dos and Don\u2019t for a personal loan in UAE are mentioned below:<\/span><\/p>\n<p><a href=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Dos-and-Dont-for-a-personal-loan.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3204 size-full\" src=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Dos-and-Dont-for-a-personal-loan.jpg\" alt=\"Dos and Don\u2019t for a personal loan\" width=\"1000\" height=\"667\" srcset=\"https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Dos-and-Dont-for-a-personal-loan.jpg 1000w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Dos-and-Dont-for-a-personal-loan-300x200.jpg 300w, https:\/\/www.squareyards.ae\/blog\/wp-content\/uploads\/2022\/05\/Dos-and-Dont-for-a-personal-loan-768x512.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following table will help you understand what to do and what not to do to get a personal loan from a bank in the United Arab Emirates:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td>\n<p style=\"text-align: center;\"><strong>Dos<\/strong><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><strong>Don\u2019ts<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Make sure your employment history is stable.<\/span><\/p>\n<\/td>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Unstable employment history leads to the rejection of the loan application.<\/span><\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Make on-time payments.<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Irregular payments vandalize the credit score.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Maintain a lower depth to income ratio.<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Don\u2019t apply for a loan that has a monthly instalment more than your monthly income.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Clear the existing loan amount before applying for a fresh one, if any.<\/span><\/p>\n<\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Don\u2019t apply for a personal loan if you have an ongoing loan.<\/span><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: center;\"><span style=\"font-weight: 400;\">Fill out the application with correct information and documents.<\/span><\/td>\n<td>\n<p style=\"text-align: center;\"><span style=\"font-weight: 400;\">Do not fill out the application in a rush as it may lead to rejection of the application.<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p style=\"text-align: left;\"><strong>\u00a0To Sum Up<\/strong><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Getting a personal loan in the UAE is simple as the eligibility criteria are not\u00a0 tough to meet. The required documents for a personal loan are relatively less than in other countries. Moreover, in Dubai, ex-pats can also apply for a loan. An individual has to maintain a healthy credit score in order to get a personal loan at the lowest interest rate in the UAE. There are several types of loans available for every individual to choose from. An individual can even apply for a personal loan in Dubai without a salary transfer letter.<\/span><\/p>\n<p><strong>More Useful Article for you :<\/strong><\/p>\n<table style=\"height: 122px;\" width=\"824\">\n<tbody>\n<tr>\n<td width=\"312\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/guide-to-applying-for-a-gold-loan-in-the-uae-gldart\">Gold Loan in the UAE<\/a><\/strong><\/td>\n<td width=\"312\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/how-to-apply-for-student-loans-in-the-uae-misart\">Student Loans in the UAE<\/a><\/strong><\/td>\n<\/tr>\n<tr>\n<td width=\"312\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/get-a-car-loan-in-the-uae-cart\">Car Loan in the UAE<\/a><\/strong><\/td>\n<td width=\"312\"><strong><a href=\"https:\/\/www.squareyards.ae\/blog\/qualify-for-a-mortgage-in-the-uae-accart\">Mortgage in the UAE<\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"Is_it_easy_to_get_a_personal_loan_in_Dubai\"><\/span>Is it easy to get a personal loan in Dubai?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tYes, it is easy to get a personal loan in Dubai if you are eligible and have all the required documents.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"What_is_the_minimum_salary_to_get_a_personal_loan_in_Dubai\"><\/span>What is the minimum salary to get a personal loan in Dubai?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tAED 2,500 to AED 5,000 is the minimum salary required to get a personal loan in Dubai.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"sc_fs_faq sc_card \">\n\t\t\t<div>\n\t\t\t\t<h3><span class=\"ez-toc-section\" id=\"How_much_loan_can_I_get_in_Dubai\"><\/span>How much loan can I get in Dubai?<span class=\"ez-toc-section-end\"><\/span><\/h3>\t\t\t\t<div>\n\t\t\t\t\t\t\t\t\t\t<p>\n\t\t\t\t\t\tAn individual can get a loan amount which is twenty times their salary in Dubai.\t\t\t\t\t<\/p>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/section>\n\t\t\n<script type=\"application\/ld+json\">\n\t{\n\t\t\"@context\": \"https:\/\/schema.org\",\n\t\t\"@type\": \"FAQPage\",\n\t\t\"mainEntity\": [\n\t\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"Is it easy to get a personal loan in Dubai?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"Yes, it is easy to get a personal loan in Dubai if you are eligible and have all the required documents.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"What is the minimum salary to get a personal loan in Dubai?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"AED 2,500 to AED 5,000 is the minimum salary required to get a personal loan in Dubai.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t,\t\t\t\t{\n\t\t\t\t\"@type\": \"Question\",\n\t\t\t\t\"name\": \"How much loan can I get in Dubai?\",\n\t\t\t\t\"acceptedAnswer\": {\n\t\t\t\t\t\"@type\": \"Answer\",\n\t\t\t\t\t\"text\": \"An individual can get a loan amount which is twenty times their salary in Dubai.\"\n\t\t\t\t\t\t\t\t\t}\n\t\t\t}\n\t\t\t\t\t\t]\n\t}\n<\/script>\n\n","protected":false},"excerpt":{"rendered":"<p>Life is a roller-coaster ride. There are many ups and downs. A\u00a0 personal loan in the UAE can help you get out of bad a situation. A personal loan is a good way to deal with a financial crisis. It prevents the trouble of irregular interest rates demanded by the local moneylenders. Applying for a [&hellip;]<\/p>\n","protected":false},"author":11,"featured_media":3200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[57,59],"class_list":["post-3199","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-miscellaneous","category-uae"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/3199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/comments?post=3199"}],"version-history":[{"count":1,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/3199\/revisions"}],"predecessor-version":[{"id":5150,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/posts\/3199\/revisions\/5150"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/media\/3200"}],"wp:attachment":[{"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/media?parent=3199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.squareyards.ae\/blog\/wp-json\/wp\/v2\/categories?post=3199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}