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RAKBANK Non Salary Transfer Loan

RAKBANK Non Salary Transfer Loan





5.99 %


AED 5,000


10.86 %

Salary Transfer Required?


Minimum Monthly Salary

AED 5,000

Fixed Rate

5.99 %

Reducing Rate

10.86 %

Max Loan Amount


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.


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