UAE National Personal Loans with Free Credit Card

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
UNITED ARAB BANK Personal Loans for UAE Nationals

UNITED ARAB BANK Personal Loans for UAE Nationals

United Arab Bank (UAB)

SALARY TRANSFER

Yes

FIXED RATE

3.03%

MONTHLY SALARY

AED 7,500

REDUCING RATE

5.49%

Salary Transfer Required?

Yes

Minimum Monthly Salary

AED 7,500

Fixed Rate

3.03%

Reducing Rate

5.49%

Max Loan Amount

2,500,000

Key Features

  • Loan amount up to 20 times of your salary
  • Repayment period up to 48 months
  • Interest rates as low as 5.49%
  • Loans available up to AED 2.5 million