Personal Loans Without Salary Transfer with Free Bank Account

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
FAB Islamic Personal Finance

FAB Islamic Personal Finance

First Abu Dhabi Bank (FAB)

SALARY TRANSFER

Yes

FIXED RATE

2.64%

MONTHLY SALARY

AED 6,000

REDUCING RATE

4.78%

  • High Finance Amounts
  • Competitive Profit Rates
  • Flexible Payment Period up to 48 months

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 6,000

Fixed Rate

2.64%

Reducing Rate

4.78%

Max Loan Amount

5,000,000

Key Features

  • Generous loan amounts for UAE nationals and expats
  • Flexible repayment terms of up to 48 months to repay through your FAB account
  • Attractive Profit rates 2.64% p.a.
ADCB Personal Finance

ADCB Personal Finance

Abu Dhabi Commercial Bank (ADCB)

SALARY TRANSFER

Yes

FIXED RATE

3.25%

MONTHLY SALARY

AED 10,000

REDUCING RATE

5.90%

  • Competitive Profit Rates

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
Flexible Tenures
Low minimum salary requirement

FAB Landlord Loans

FAB Landlord Loans

First Abu Dhabi Bank (FAB)

SALARY TRANSFER

Yes

FIXED RATE

5.10%

MONTHLY SALARY

AED 5,000

REDUCING RATE

9.25%

  • Competitive Interest Rates

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 5,000

Fixed Rate

5.10%

Reducing Rate

9.25%

Max Loan Amount

2,000,000

Key Features

  • Variable interest rate starting from 9.25% p.a.
  • Generous loan amounts of up to AED 2 million
  • Flexible repayment terms of up to 48 months
  • Repayment from rental income received on properties managed by select banks

Things To Be Aware Of

  • Repayment from rental income managed by select banks
MASHREQ Non Salary Transfer Personal Loan for Expatriates

MASHREQ Non Salary Transfer Personal Loan for Expatriates

Mashreq Bank

SALARY TRANSFER

Yes

FIXED RATE

14.10%

MONTHLY SALARY

AED 7,000

REDUCING RATE

25.60%

  • No salary transfer or collateral required

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 7,000

Fixed Rate

14.10%

Reducing Rate

25.60%

Max Loan Amount

150,000

Key Features

  • Loan Amounts of up to AED 150,000
  • Competitive rates of interest
  • Comfortable repayment loan tenure of up to 48 months
  • No Salary Transfer or collateral required
  • Simple documentation and quick processing
  • Islamic finance option is available

Things To Be Aware Of

  • Loan Amounts of up to AED 150,000
UNION NATIONAL BANK Non-Salary Transfer Loan

UNION NATIONAL BANK Non-Salary Transfer Loan

Union National Bank (UNB)

SALARY TRANSFER

Yes

FIXED RATE

7.72%

MONTHLY SALARY

AED 10,000

REDUCING RATE

14.00%

  • Free bank account
  • No salary transfer required

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 10,000

Fixed Rate

7.72%

Reducing Rate

14.00%

Key Features

  • Competitive interest rate starting at 14% per annum
  • No salary transfer required

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