Approval within 24 hours
Nominal interest rates
No guarantors
Minimum documentation
Salary Transfer Loan in Dubai is much easier to apply as compared to Loan without a salary transfer. It is also considered as a secured loan in UAE market. In this scenario, you need to transfer your monthly salary to the lending bank, to avail any loan facility. There are numerous Banks in UAE who are providing this type of loan at very competitive Interest rates. To name a few ADCB Personal Loan, ADIB Personal Loan, Rak Bank Personal Loan, Emirates NBD Personal Loan, Emirates Islamic Personal Loan, Noor Bank Personal Loan, and lot more. Also cheeck Top Credit Cards in UAE.
As it is considered a secured loan, the interest rates are much lower as compared to Loan without a salary transfer.
You can apply for a loan amount of upto 20 Multiples of your salary.
All loans are not created equal, salary transfer loan has become a great option for people to use.
Any salaried, self-employed, or professional is eligible for a salary transfer loan.
To apply for a Salary Transfer Loan in UAE, the minimum fixed monthly income should be AED 5000 or above.
A minimum credit score of 650 has become the most important factor in applying for a loan or any financial product in UAE.
Min. age of the applicant should be 21 Years & max age at loan maturity should be 60 years for expats & 65 years for Emiratis
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Yes, the maximum repayment tenure is 48 months for a personal loan in UAE but you can pre-close it anytime by paying the outstanding amount and pre-closing charges of the lending bank.
Though it is not mandatory to transfer your salary to the bank for applying for a loan but salary transfer loan offers more options and lowers interest rates.
Most Banks in UAE provides salary transfer loan to there list of approved company employees only.
Tentatively it should take a weeks time if all documents are complete however it may vary in bank to bank loan application process.
