GCCWIRE
  • Home
  • News
    • Press Releases
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • KSA
  • UAE
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
submit pr
No Result
View All Result
  • Home
  • News
    • Press Releases
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • KSA
  • UAE
  • About Us
    • Press Release Distribution Services
    • Submit Press Release
    • Contact Us
submit pr
No Result
View All Result
GCCWIRE
submit pr
Home News

What One Needs to Get a Personal Loan in UAE

admin by admin
June 14, 2022
in News
Short-term Investment Options to Choose from in UAE
Share on FacebookShare on Twitter


Arab Newswire Press Release Distribution to Media Arab World and MENA regions go to ArabNewswire.com

DUBAI, UAE — (ARAB NEWSWIRE) — A personal loan is an easy and convenient financial option while tackling situations that require large amount of funds that an individual may not be able to afford upfront. Whether it’s for a wedding, debt consolidation, home improvement, travel expenses or any medical emergencies, personal loans can be used flexibly. However, it is to be noted that personal loans cannot be used to make down payments on mortgages.

Several banks and financial institutions in UAE may offer personal loans to individuals who fulfil the specified requirements. Customers can avail a personal with or without a salary transfer. Some banks in UAE may require individuals to transfer their salary to the bank to avail a personal loan. So, it is important to check with the bank if they offer a loan with or without a salary transfer.

Requirements for a Personal Loan in UAE

There are multiple factors that a bank considers while providing a personal loan. An individual needs to fulfil these requirements to be eligible for a personal loan in UAE. Some of the requirements are mentioned below:

  1. Minimum Monthly Salary

Different banks in UAE have different minimum monthly salary requirements for a personal loan. While some banks offer personal loans to individuals who are new to the country, most banks require individuals to be employed for a few months and have a confirmed salary employment. Individuals need to check with their bank to know if they qualify for the loan accordingly.

  1. UAE Residency or Citizenship

To apply for a personal loan in UAE, an individual needs to be a UAE national or resident.

  1. Age Limit

The minimum age requirement set by most banks and financial institutes in UAE is 21 years.

  1. Good Credit Score and Repayment History

A good credit score and repayment history can play an important part in getting a personal loan in UAE.

Documents Required for Personal Loan in UAE

To avail a personal loan in UAE, individuals may need to submit the following documents:

  1. ID Proof of UAE

To apply for a personal loan, it is important for an individual to have a valid ID proof, such as passport copy or Emirates ID copy.

  1. Residency Proof

Some banks may require individuals to submit a valid residency proof while applying for a personal loan.

  1. Bank Statement of Minimum Three Months

To track regular salary credit and an individual’s earning potential, a bank may usually ask for a bank statement of minimum three months.

  1. Salary Slips and Income Certificates

Some banks may require individuals to submit their salary slips, salary transfer letters or income certificates to prove their employment.

Conclusion

Before applying for a personal loan in UAE, an individual needs to fulfil the above-mentioned personal loan requirements. It is advisable to plan the finances properly and calculate the equal monthly instalment (EMI) of the loan beforehand using a loan calculator. To enjoy a hassle-free loan application process, individuals can apply for a personal loan online.

About iQuanti
iQuanti ignites powerful and predictable digital marketing performance for global brands with an approach rooted in data science and deep vertical knowledge.

Notice:
Opinions, analyses, reviews, or recommendations expressed in this article are those of the select editorial staff’s alone, and have not been reviewed, approved, or otherwise endorsed by any third party.

###
This press release is issued through Arab Newswire (www.arabnewswire.com) – a newswire service for the Arab World, Middle East and North Africa (MENA), and it is distributed by EmailWire™ (www.emailwire.com) – the global newswire service that provides Press release distribution with guaranteed results™.

 





Source link

Tags: Bank StatementCitizenshipID Proof of UAEIncome CertificatesMinimum Monthly Salarypersonal loan in UAEResidency ProofSalary SlipsUAE Residency
Previous Post

Short-term Investment Options to Choose from in UAE

Next Post

IFAW works in cooperation with governments in the region to build their capacity against wildlife cybercrime

RelatedPosts

Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia
News

Wahyd Expands Tech-Enabled Logistics Platform to Saudi Arabia

Wahyd Group SAUDI ARABIA — (ARAB NEWSWIRE) — Wahyd Group Inc, the leading technology company has announced the...

by admin
February 1, 2023
تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين
News

NOWA outlines 16 major achievements of Hajiya Aisha Gambo in 2 Years

Hajiya Nana Aisha Gambo during Outreach at Hausa Quarters in Warri Delta State ABUJA, NIGERIA – (ARAB NEWSWIRE) –...

by admin
January 26, 2023
تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين
News

تحدد جمعية زوجات الضباط البحريين (NOWA) 16 من الإنجازات الرئيسية لحاجيه عائشة غامبو في عامين

Hajiya Nana Aisha Gambo during Outreach at Hausa Quarters in Warri Delta State ABUJA, NIGERIA – (ARAB NEWSWIRE) حاجيه...

by admin
January 26, 2023
The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023
News

The 8th edition of the GCC Regulatory Affairs Pharma Summit will take place in Dubai in 2023

GCC Regulatory Affairs Pharma Summit A Two-day summit with 350+ professionals as attendees including regional governmental officials &...

by admin
January 20, 2023
Load More

POPULAR POSTS

  • MarketsandMarkets™

    Aircraft Seat Upholstery Market worth $1.8 billion by 2025

    0 shares
    Share 0 Tweet 0
  • UHT Processing Market Statistics, Growth, Trends & Forecasts

    0 shares
    Share 0 Tweet 0
  • PallyCon unveils Robust Distributor Watermarking to Fortify Premium Content in the Distribution Phase

    0 shares
    Share 0 Tweet 0
  • KSA Weekly on Kingdom of Saudi Arabia adds to Arab Newswire Media List Press Release Distribution to MENA Region

    0 shares
    Share 0 Tweet 0
  • Oman cable unveils the Global Sustainability Academy

    0 shares
    Share 0 Tweet 0

GCCWIRE™ provides press release distribution services for businesses, organizations and other entities with the need to reach media outlets in member countries of Gulf Corporation Council (GCC) and Middle east and North Africa. Submit press release or contact us today.

Browse By Category

News
Bahrain
Kuwait
Omar
Qatar
KSA
UAE

Recent News

Recent Posts
  • Williams Racing unveils 2023 car and partnership – Race Tech Magazine
  • STC and Telefónica pool resources to develop new tech – Telecoms.com
  • Final Basel III in Saudi Arabia Favours Mortgages and Project Finance – Fitch Ratings
  • Saudi Arabia Says Tech Giants to Invest More Than $9 Billion in Kingdom – Latest Tweet by Reuters – LatestLY

Our Newsletter

    Gccwire is part of GroupWeb Media Network. @ 2023 GroupWeb Media LLC

    No Result
    View All Result
    • Home
    • News
      • Press Releases
    • Bahrain
    • Kuwait
    • Oman
    • Qatar
    • KSA
    • UAE
    • About Us
      • Press Release Distribution Services
      • Submit Press Release
      • Contact Us

    Gccwire is part of GroupWeb Media Network. @2023 GroupWeb Media LLC