QatarBusinessToday.com
No Result
View All Result
  • About Us
  • Contact Us
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
Submit a Press Release
  • Business
  • Energy
  • Finance
  • Healthcare
  • Real Estate
  • Travel
  • Tech
  • Middle East
  • Press Releases
No Result
View All Result
QatarBusinessToday.com
Submit PR
Home Middle East

What One Needs to Get a Personal Loan in UAE

Newsroom by Newsroom
June 14, 2022
What One Needs to Get a Personal Loan in UAE
Share on FacebookShare on Twitter


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

For Some Trump Voters, Coronavirus Was The Last Straw

Next Post

تم إطلاق VOYAH FREE في أوروبا وتم افتتاح معرض VOYAH.

Related Posts

Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East
Middle East

[Citibank] – Top Benefits and Services Provided by Citigold Premier Banking Account

September 30, 2023
Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East
Middle East

Compare Citibank Credit Cards to Find the Most Suitable One

September 30, 2023
Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East
Middle East

What Are Time Deposits? What Are Their Benefits?

September 30, 2023
Alla Taliji: DBInvesting will become the Key Player for Forex and Crypto Investments in the Middle East
Middle East

4 Reasons Why Credit Cards May Be a Better Choice Than Debit Cards

September 30, 2023
Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List
Middle East

Arab Newswire, a Press release Distribution Service to Middle East and North Africa, Adds GCC Weekly to its Media List

September 25, 2023
A Bold Step Forward for Türkiye’s Financial Future, PayFix Officially Acquires BankPozitif
Middle East

A Bold Step Forward for Türkiye’s Financial Future, PayFix Officially Acquires BankPozitif

September 16, 2023

Recommended Stories

How Does A Lateral Flow Device Work?

How Does A Lateral Flow Device Work?

July 7, 2022

Qatar’s capital market set to see healthy pipeline of listings this year

January 16, 2023

Food Hydrocolloids Market Increasing Demand For Food Additives As Well As Functional Foods

October 13, 2022

Popular Stories

  • ZainTech partners with LigaData to deliver data-driven digital services in MENA

    ZainTech partners with LigaData to deliver data-driven digital services in MENA

    0 shares
    Share 0 Tweet 0
  • Exchange goods, vehicles, or property for crypto on Bazaars

    0 shares
    Share 0 Tweet 0
  • Rastec Real Estate holds groundbreaking for mixed-use building project

    0 shares
    Share 0 Tweet 0
  • Qatari Ministry, Meta partnership seeks growth of digital innovation ecosystem

    0 shares
    Share 0 Tweet 0
  • Al Futtaim Group Real Estate partners with TIER Mobility for micro-mobility services at Dubai Festival City – MEConstructionNews.com

    0 shares
    Share 0 Tweet 0

Qatar Business Today™ publishes and aggregates business, socio-economic, Tech and industrial news on Qatar, Middle East and North Africa (MENA)..

Press release distribution services:

We provide press release distribution to media in Qatar, the Arab world and the GCC/MENA regions. Submit a press release today, contact us.

Recent News

.
  • Double Delivery: Qatar Airways Receives 2 Boeing 787-9 … – Simple Flying
  • ANOTHER NEW BEGINNING IN QATAR – Newsroom Pirelli
  • Qatar, Uzbekistan sign documents on strengthening multifaceted co … – Trend News Agency
  • Qatar Central Bank credits economic diversification for £2.17 billion … – Doha News

Categories

Business
Energy
Finance
Healthcare
Real Estate
Travel
Tech
Middle East
Press Releases

Subscribe to Our Newsletter

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC
    • About Us
    • Contact Us
    • Submit a Press Release
    No Result
    View All Result
    • Business
    • Energy
    • Finance
    • Healthcare
    • Real Estate
    • Tech
    • Travel
    • Middle East
    • Press Releases
    • About Us
      • Contact Us
      • Submit a Press Release

    Qatar Business Today™ is part of GroupWeb Media Network. © 2023 GroupWeb Media LLC