Top Banks for Personal Loan in UAE with 5000 Salary

A personal loan in UAE with 5000 salary is easy to apply. While eligibility criteria may differ from one bank to another, we’ve compiled a list of the top UAE banks offering personal loans with excellent features and benefits. Explore these options to find the loan that suits your needs and enjoy a smooth, hassle-free approval process.

Which Bank is Best for a Personal Loan in UAE with AED 5,000 Salary? 

Listed below are the top banks in the UAE, offering personal loan with AED 5,000 salary:

Top Banks	Interest/Profit Rate	Salary Transfer	Apply
Emirates NBD	Starting from 4.99% (fixed rate)	Mandatory	Apply Now
Deem Finance	Starting from 15.99%	Not mandatory	Apply Now
RAKBANK	Starting from 5.49% (reducing rate)	Mandatory	Apply Now
ADCB	Starting from 5.24% (UAE Nationals)	Mandatory	Apply Now
ADIB	Starting from 4.59% (reducing profit rate)	Mandatory	Apply Now
Al Hilal Bank	N/A	N/A	Apply Now
Sharjah Islamic Bank	Starting from 2.49% (updated financing rate)	Mandatory	Apply Now
United Arab Bank	Starting from 4.89%	Mandatory	Apply Now

Interest rates may vary over time, depending on the bank’s policies.

1. Emirates NBD

Emirates NBD is one of the top banks, offering personal loan options for Emiratis and expats. It offers a high loan amount at a competitive interest rate, providing you with financial flexibility. Furthermore, with this bank, you can experience a seamless loan application process with minimal documentation.

Key Features & Benefits of Emirates NBD Personal Loan

• Up to AED 4 million loan amount for Emiratis and AED 3 million for expats 
• First payment deferment of up to 120 days
• Extended loan tenure of 48 months 
• Loan top-up facility 
• Credit life insurance facility 
• 7-day loan return facility 

2. Deem Finance

Deem Finance provides a low-interest personal loan for individuals earning AED 5,000/month. Borrow higher amounts with flexible repayment options of up to 4 years. The complete online application process makes it quick, convenient, and hassle-free, letting you secure the funds you need without leaving your home.

Key Features & Benefits of Deem Finance Personal Loan 

• Easy loan application 
• Quick loan approval 
• Easy EMI payment in up to 4 years 
• No need to transfer your salary 
• Availability of the ‘Deem Credit Life Plus’ insurance plan 
• Basic documentation required 

3. RAKBANK 

If your monthly income is AED 5,000, RAKBANK is the best bank for a personal loan in the UAE. With this, you can secure a high finance amount at an attractive interest rate. It also comes with additional perks, such as an easy loan application and more. 

Key Features & Benefits of RAKBANK Personal Loan 

• Borrow a high amount, up to 20x of your salary (15x the salary for armed forces staff)
• Basic eligibility requirements 
• Flexible loan repayment tenure of 48 months
• Loan top-up facility 
• Switch another bank’s loan to RAKBANK

4. ADCB

Abu Dhabi Commercial Bank (ADCB) offers financial solutions to UAE nationals and expatriates. You can take up a high loan amount and use it for various purposes, such as education, travel, wedding, home renovation and more. It also allows you to settle your existing debts with no hassles. 

Key Features & Benefits of adcb personal loan

• Competitive interest rates, starting from 5.24% for nationals and 6.49% for expatriates
• High loan amount, up to AED 4 million for nationals & AED 1,500,000 for expats
• Earn up to 150 TouchPoints for every AED 1,000 loan amount
• Availability of the loan consolidation facility 
• Credit life insurance facility 
• Get a complimentary adcb credit card 
• Maximum loan tenure of 4 years 
• Personal loan top-up facility is available 

5. ADIB

Enjoy a high finance amount of up to AED 3 million with Abu Dhabi Islamic Bank (ADIB). It features Shariah-compliant finance solutions at a competitive profit rate. Along with this, the bank allows you to instantly apply for a personal loan in UAE with AED 5,000 salary from the comfort of your home. 

Key Features & Benefits of ADIB Personal Finance

• Access a high finance amount 
  • Up to AED 3 million for nationals 
  • Up to AED 2 million for expats 
• Repay the finance amount in easy instalments for up to 48 months 
• Up to 2 instalment postponements annually  
• Personal finance takaful coverage facility 
• Grace period for the first instalment for up to 210 days
• Pre-approval in 30 minutes 

6. Al Hilal Bank 

This is one of the top banks among the list of best banks for personal loans in UAE with an AED 5000 salary. With this bank, you can find an array of finance options, based on Islamic principles, to fulfil your dreams.

Key Features & Benefits of Al Hilal Personal Finance

• A variety of personal finance solutions – Cash Personal Finance, Settlement of Liabilities Financing, Travel Finance, Education Finance, Rent Finance, Medical Finance, and Wedding Finance
• Borrow a high amount 
• Enjoy competitive profit rates 
• Shariah-compliant finance solutions 
• Simple documentation 
• Flexible repayment tenure 

7. Sharjah Islamic Bank 

Sharjah Islamic Bank (SIB) offers personal finance solutions for various purposes, including travel, renting, weddings, and more. The finance solution is based on Islamic principles and offers you a high finance amount without any hassles.

Key Features & Benefits of SIB Personal Loan 

• High finance amount of AED 2,500,000
• Fast loan approval 
• Flexible repayment tenure of 48 months
• Low profit rate 
• Pay the first instalment after 150 days 

8. United Arab Bank 

When you are looking for a personal loan in UAE with AED 5000 salary, consider United Arab Bank. It’s one of the leading banks, offering finance solutions for both nationals and expats. Moreover, you can enjoy quick approval, simple documentation, and a flexible repayment facility. 

Key Features & Benefits of United Arab Bank Personal Loan

• Low interest rates, 4.89% for nationals and 5.24% for expats
• High finance amount, up to AED 3 million for nationals and AED 1.5 million for expats
• Flexible repayment period of 48 months 
• Loan deferment facility 
• Availability of the loan top-up facility 
• Complimentary credit card for the 1st year 
• Quick approvals and easy documentation
• Buy out the facility from other banks

How Much Loan Can I Get on AED 5000 Salary? 

In the UAE, the Central Bank allows banks to offer personal loans of up to 20 times your monthly salary. For example, if your salary is AED 5,000, the maximum loan you may qualify for is AED 100,000.

Note that it is an example of a loan amount limit; the actual finance amount may vary. Each lender has its own rules and approval process. They will look at factors like your credit Score, existing debts, employer profile, and repayment history before deciding the exact loan amount you can get.

The final approved loan amount may be lower than AED 100,000, depending on your financial profile.

Eligibility Criteria for Personal Loan in UAE with 5000 Salary 

As mentioned above, banks in the UAE approve personal loans based on several factors. To improve your chances of quick approval with a salary of AED 5,000, you need to meet the basic eligibility requirements. Below are some of the key criteria you should know:

• Age- You must be at least 21 years old to get a personal loan in UAE with AED 5000 salary. 
• Employment Status- Whether you are salaried or self-employed, you can secure personal loans in the UAE. 
• Nationality- Several banks offer personal finance solutions for UAE nationals and expatriates (must be a UAE resident in most cases). 
• Credit Score- You must have a good credit score, such as more than 650, to qualify for the loan. 

Documents Required for Personal Loan in UAE with 5000 Salary

Ensure you have all the required documents to get the loan approval quickly. Some of the key documents for a personal loan in UAE with 5000 salary are as follows:

• Emirates ID 
• Passport copy 
• UAE residence visa 
• Salary certificate (if required)
• Salary transfer letter (if required)
• Salary slip
• Last 3 months' bank statements
• Details of existing loan (if any)
• Trade licence (for self-employed)

✍️ The bank may ask for some additional documents, so keep them handy. 

How to Apply for a Personal Loan in UAE with 5000 Salary? 

Paisabazaar.ae offers a convenient option for applicants with a salary of AED 5,000 to get a personal loan in UAE. With this online platform, you can easily apply for a personal loan in the UAE without any effort. Here are the key steps you need to follow:

• Start your journey by clicking here 
• Fill out the lead form with the required details, such as your name, contact details, monthly income, and more
• Submit it and get the quote page  
• Compare the available options, including interest rate, tenure, and more 
• Apply for the best loan option, suiting your requirements

Summing Up

Getting a personal loan in UAE with 5000 salary is possible. However, meeting the salary limit alone doesn’t guarantee approval. Banks also check your eligibility, such as age, residency, employment status, credit score, and more, before determining the loan amount. To secure the best terms, ensure you meet these requirements and maintain a good financial record for smooth loan approval. 

Personal Loan in UAE with 5000 Salary- FAQs