Buy Out Personal Loans

ADCB Personal Finance

ADCB Personal Finance

Abu Dhabi Commercial Bank (ADCB)

SALARY TRANSFER

Yes

FIXED RATE

3.33%

MONTHLY SALARY

AED 8,000

REDUCING RATE

0.00%

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 8,000

Fixed Rate

3.33%

Reducing Rate

0.00%

Max Loan Amount

1,250,000

Key Features

Profit rates starting from 3.33% p.a. High finance amount of up to AED 1.25 million for expatriates, and AED 2 million for UAE nationals Finance tenure up to 4 years Takaful coverage (including optional family and job loss cover) First year free credit card Simple documentation and quick approvals

Things To Be Aware Of

  • Maximum Loan Amount
  • AED 1,250,000 (Expats)
  • AED 2,000,000 (UAE nationals)
ADIB Debt Settlement

ADIB Debt Settlement

Abu Dhabi Islamic Bank (ADIB)

SALARY TRANSFER

Yes

FIXED RATE

3.58 %

MONTHLY SALARY

AED 8,000

REDUCING RATE

6.50 %

  • 100% Processing Fee Waiver

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 8,000

Fixed Rate

3.58 %

Reducing Rate

6.50 %

Max Loan Amount

1,000,000

Key Features

  • A special profit rate starting from 6.5% p.a.
  • First installment payment grace period up to 90 days
  • 100% processing fee waiver

Things To Be Aware Of

ADIB Personal Finance

ADIB Personal Finance

Abu Dhabi Islamic Bank (ADIB)

SALARY TRANSFER

Yes

FIXED RATE

3.72%

MONTHLY SALARY

AED 8,000

REDUCING RATE

6.75%

  • Free pre-approved ADIB VISA Cashback Card for the first year
  • First installment payment grace period up to 90 days

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 8,000

Fixed Rate

3.72%

Reducing Rate

6.75%

Max Loan Amount

1,000,000

Key Features

  • Free pre-approved ADIB VISA Cashback Card for the first year
  • First installment payment grace period up to 90 days
  • Two free installments postponements every year
  • Takaful cover protection with competitive rates

Things To Be Aware Of

  • Required Length of service 6 Months
Al Hilal Bank Personal Finance

Al Hilal Bank Personal Finance

Al Hilal Bank

SALARY TRANSFER

Yes

FIXED RATE

3.25 %

MONTHLY SALARY

AED 10,000

REDUCING RATE

5.90 %

  • Competitive Profit Rate

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 10,000

Fixed Rate

3.25 %

Reducing Rate

5.90 %

Key Features

  • A wide range of Shariah compliant products
  • Fast and simple approval process
  • Competitive Profit Rates
  • High Finance Amount and Flexible Tenures
  • Low minimum salary requirement
CBD Personal Loan

CBD Personal Loan

Commercial Bank of Dubai (CBD)

SALARY TRANSFER

Yes

FIXED RATE

3.03 %

MONTHLY SALARY

AED 8,000

REDUCING RATE

5.50 %

  • Competitive Interest Rates
  • Loan upto 20X of your monthly salary

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 8,000

Fixed Rate

3.03 %

Reducing Rate

5.50 %

Max Loan Amount

750,000

Key Features

  • High loan amounts for UAE nationals and residents
  • Competitive interest rates starting from 5.50% reducing per annum
  • Flexible repayment period up to 48 months
  • Current account with minimum balance requirement waived
  • Interest rates are subject to individual profile and CBD credit analysis

Things To Be Aware Of

  • Employer should be listed with CBD
Dubai Islamic Liabilities Settlement Finance

Dubai Islamic Liabilities Settlement Finance

Dubai Islamic Bank (DIB)

SALARY TRANSFER

Yes

FIXED RATE

0.00%

MONTHLY SALARY

AED 5,000

REDUCING RATE

0.00%

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 5,000

Fixed Rate

0.00%

Reducing Rate

0.00%

FAB Buyout Loans

FAB Buyout Loans

First Abu Dhabi Bank (FAB)

SALARY TRANSFER

Yes

FIXED RATE

4.08%

MONTHLY SALARY

AED 5,000

REDUCING RATE

7.40%

  • Competitive interest rates
  • High loan amounts

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 5,000

Fixed Rate

4.08%

Reducing Rate

7.40%

Max Loan Amount

5,000,000

Key Features

  • Competitive interest rates starting from as low as 7.40% p.a.
  • High loan amounts of up to AED 5 million for UAE nationals
  • Flexible repayment terms of up to 48 months (60 months for Ministry of Defense employees)
FAB Personal Loans for UAE Expats

FAB Personal Loans for UAE Expats

First Abu Dhabi Bank (FAB)

SALARY TRANSFER

Yes

FIXED RATE

4.99%

MONTHLY SALARY

AED 7,000

REDUCING RATE

9.30%

  • Attractive loan amounts up to AED 2 Million
  • Competitive interest rates
  • Minimum documentation
  • Fleximble repayment terms
  • Quick and seamless processing

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 7,000

Fixed Rate

4.99%

Reducing Rate

9.30%

Max Loan Amount

4,000,000

Key Features

Attractive loan amounts up to AED 2 Million Competitive interest rates Flexible repayment terms Fast track approvals Comprehensive Personal Life Insurance coverage

Product Overview

Personal Loans in UAE are offered to customers for a variety of reasons including education, travel, medical and many more.  There are two types of personal loans, one which requires a salary transfer and one which doesn’t.

Loans are offered for a minimum period of 6 to a maximum of 48 months expats and 60 months for UAE Nationals.

Most of the banks assign Loan APR (Annual Percentage Rate) based on the profile of the customer and his/her employer. A few banks use bureau score to assign interest rates.  

UAE loan APR rates range between from 5% to 35% in general.

Illustration: 

If a customer borrows a loan of AED 20,000 and earns an income of AED 10,000. With a repayment period of 48 months, the EMI would be AED 452 at an effective interest rate of 4.99% per annum.           

Total repayment that would have been paid at the completion of the loan would be AED22,104. The borrower would be paying AED 2104 as interest.  

Please use Soulwallet’s Loans EMI Calculator for further simulations.

Processing Fee: 1.05% of the finance amount. A minimum of AED 525 to a max of AED 2625.

MASHREQ Debt Consolidation Loans

MASHREQ Debt Consolidation Loans

Mashreq Bank

SALARY TRANSFER

Yes

FIXED RATE

0.00%

MONTHLY SALARY

AED 5,000

REDUCING RATE

0.00%

  • Lower collective payments on debt consolidation

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 5,000

Fixed Rate

0.00%

Reducing Rate

0.00%

Key Features

  • Lower monthly payments
  • Increased disposable income
  • Reduced interest payments over lifecycle
  • Higher Loan amount:
    – AED 1 Million for Expats and AED 3 Million for UAE Nationals
RAKBANK Non Salary Transfer Loan

RAKBANK Non Salary Transfer Loan

RAKBANK

SALARY TRANSFER

Yes

FIXED RATE

5.99 %

MONTHLY SALARY

AED 5,000

REDUCING RATE

10.86 %

  • Quick Approvals
  • Competitive Interest Rates
  • Easy does it ! Hassle-free loan takeovers from other banks
  • Simple and Easy documentation

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 5,000

Fixed Rate

5.99 %

Reducing Rate

10.86 %

Max Loan Amount

1,250,000

Key Features

  • High Personal Loan amounts at low interest rates
  • Quick approvals
  • Competitive interest rates
  • Flexible repayment periods of up to 48 months for expatriates and UAE nationals (60 months for Armed Forces Staff)

Product Overview

Personal Loans in UAE are offered to customers for a variety of reasons including education, travel, medical and many more.  There are two types of personal loans, one which requires a salary transfer and one which doesn’t.

Loans are offered for a minimum period of 6 to a maximum of 48 months expats and 60 months for UAE Nationals.

Most of the banks assign Loan APR (Annual Percentage Rate) based on the profile of the customer and his/her employer. A few banks use bureau score to assign interest rates.  

UAE loan APR rates range between from 5% to 35% in general.

Illustration: 

If a customer borrows a loan of AED 20,000 and earns an income of AED 10,000. With a repayment period of 48 months, the EMI would be AED 470 at an effective interest rate of 13.99% per annum.           

Total repayment that would have been paid at the completion of the loan would be AED22,540, The borrower would be paying AED 2,540 as interest.  

Please use Soulwallet’s Loans EMI Calculator for further simulations.

Arrangement Fee: 1% of the finance amount

Things To Be Aware Of

  • Loan and Interest will be basis the salary & company listing
UNION NATIONAL BANK UAE Nationals Loan

UNION NATIONAL BANK UAE Nationals Loan

Union National Bank (UNB)

SALARY TRANSFER

Yes

FIXED RATE

2.48%

MONTHLY SALARY

AED 10,000

REDUCING RATE

4.50%

  • Competitive interest rates
  • Free UNB Credit card

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 10,000

Fixed Rate

2.48%

Reducing Rate

4.50%

Max Loan Amount

500,000

Key Features

  • Competitive interest rates starting at 4.50% per annum
  • High loan amount
  • Flexible repayment period based on loan type
  • Consolidate all your debts in one payment