Personal Loans With Easy And Fast Approval

Citibank Salary Transfer Loan

Citibank Salary Transfer Loan

Citibank

SALARY TRANSFER

Yes

FIXED RATE

3.85%

MONTHLY SALARY

AED 8,000

REDUCING RATE

8.00%

  • Approvals in 1 day
  • Instant loan funding on final approval

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 8,000

Fixed Rate

3.85%

Reducing Rate

8.00%

Max Loan Amount

250,000

Key Features

  • Loans of up to AED 250,000 (Salary transfer to Citibank required)
  • Loan amounts of up to 20 times of your salary
  • Competitive interest rates
  • Fast Approvals - in 1 day
  • Instant loan funding upon final approval
  • Tenors from 6 months up to 48 month

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.  

Citi Salarty Transfer loans APR rates range between from 6.99% - 14.99%.

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 479 at an effective interest rate of 6.99% per annum.           

Total repayment that would have been paid at the completion of the loan would be AED22,987. The borrower would be paying AED 2,987 as interest.  

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

Arrangement Fee: 1% of Loan amount with min. AED 500 and up to a max. of AED 2,500

HSBC Personal Loan

HSBC Personal Loan

HSBC

SALARY TRANSFER

Yes

FIXED RATE

4.13%

MONTHLY SALARY

AED 7,500

REDUCING RATE

7.49%

  • Quick approvals and processing
  • No need for credit insurance
  • Apply for a payment holiday or a top-up

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 7,500

Fixed Rate

4.13%

Reducing Rate

7.49%

Max Loan Amount

750,000

Key Features

  • Quick approvals and processing
  • High Loan amounts
  • UAE Nationals may be eligible for a maximum loan amount of AED 1,000,000
  • For Expats, the eligibility is a maximum of AED 750,000
  • No credit life insurance required
  • Renewal options for 12 month loans
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

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