Personal Loan in UAE for Expats - Explore Best Options & Benefits

Personal loans for expats are a useful financial option to help you meet various needs, such as medical emergencies, weddings, home renovations, travel, and more. These unsecured loans come with competitive interest rates and flexible repayment options, making them an ideal solution for managing both unexpected and planned expenses.

If you’re an expat exploring personal loan options, this guide provides all the essential information that you need to make an informed choice

What is a Personal Loan for Expats in UAE?

Personal loans for expats simply help expatriates meet their personal or urgent financial needs easily.

Expats, referring to individuals who live in the UAE but are not nationals, play a significant role in thriving the country’s economy. They live across the Emirates for work, business, and more. They often need urgent funds to meet their financial requirements. Personal loans in UAE for expats are specifically designed to assist in such situations.

Many banks offer expats the chance to access funds quickly, with minimal documentation and fast processing. However, it’s important to note that eligibility criteria for expats are often stricter compared to those for UAE nationals.

Best Personal Loans for Expats in UAE

With multiple options available, it can be difficult to find the right option. To help you out, we have listed some of the top personal loans for expatriates in UAE. Take a look at the table below for the best loans featuring attractive interest rates, flexible repayment options, and a convenient application process.

Name of the Personal Loan Product	Minimum Salary Requirement (per month)	Starting Interest or Profit Rate
FAB Personal Loan	AED 7,000	5.44% (Fixed rate)
ADCB Personal Loan	N/A	6.49%
Emirates NBD	AED 5,000	N/A
RAKBANK Personal Loan	AED 5,000	5.49% (Reducing rate)
ADIB Personal Finance	AED 5,000	N/A

FAB Personal Loan

FAB (First Abu Dhabi Bank) is a leading bank in the UAE. It offers personal loans with attractive features and benefits. Here are some of the key perks of this finance option -

High finance amount of up to AED 2 million for expats
Enjoy a grace period of 275 days
Minimal documentation
Quick loan processing
Easy repayment terms

ADCB Personal Loan for Expatriates

Abu Dhabi Commercial Bank (ADCB) provides a tailored loan specifically for expatriates, designed to meet diverse financial needs. Here are some standout features that make this loan an ideal choice -

Enjoy competitive interest rates
Low processing fees — 1.05% of the loan amount
Extended repayment term of up to 48 months
Credit life insurance facility
Option to consolidate loans available
Earn up to 150 TouchPoints for every AED 1,000 of loan amount

Emirates NBD Salary Transfer Loan for Expats

You can enjoy a flexible personal loan for expats in UAE with Emirates NBD. It features a high finance amount, a zero balance account for free, and a range of other benefits. Let’s take a look at some of the major features of this bank -

Get a high loan amount — up to AED 3 million
7-day loan return option
Repay the loan in a period of up to 48 months
Option to use the loan top-up facility
Co-applicant program available
Attractive interest rate

Eligibility	Criteria
Minimum Age	At least 21 years old
Maximum Age	Typically 60 years old
Minimum Income	Varies by bank
Employment Status	Both salaried and self-employed can apply
Salary Transfer	Often required (check with the specified bank)

RAKBANK Personal Loan

Applying for a personal loan in the UAE for expats is quite easy with RAKBANK. In just a few steps, you can easily get a high amount without any hassles. This loan features a wide range of benefits -

Instant and easy loan approval
Competitive interest rates
Easily switch your other bank loan to RAKBANK
Loan top-up facility
Requires a low AECB score (541)
Salary transfer is mandatory
Enjoy a long repayment period of up to 48 months

ADIB Personal Finance

Abu Dhabi Islamic Bank (ADIB) is an ideal choice if you are looking for a Shariah-compliant personal finance option. It offers Islamic finance solutions with excellent benefits tailored for expatriates. Here are the key aspects of ADIB personal finance -

Easy application process
Get a 7-month grace period for your first installment
Secure a high finance amount of up to AED 2 million as an expat
Enjoy flexible repayment terms of up to 48 months
Personal finance takaful coverage available
Pre-approval in 30 minutes
Simple documentation

What are the Benefits of Personal Loans for Expats in UAE?

Personal loans for expats in UAE offer significant benefits. Let’s explore the major ones -

You don’t need to provide any collateral documents or security. This is because it’s an unsecured loan type.
It is relatively easy to secure a high finance amount. You can get an amount of up to 20 times your salary.
Without any barriers, you can meet your urgent financial needs. So whether it’s a wedding or any urgent medical treatment, you can take a loan without any hassles.
Many banks offer a digital application process for personal loans for expats. This way, you can save time and effort.
With minimal documentation and dedicated assistance from customer support, you can enjoy peace of mind.
You can also use personal finance for debt consolidation. This lets you combine multiple high-interest loans into a single, more manageable monthly payment.
This loan facility can also help improve your credit Score in UAE, provided you borrow responsibly and make timely repayments.

Things to Know Before Applying for Personal Loans for Expats

Before you apply for personal loans for expats, here are a few important things to understand to avoid surprises and choose the right loan option:

Minimum Salary Requirements

There’s no single fixed salary rule across the UAE. However, most banks still require a certain minimum monthly income. This helps them assess how much you can comfortably borrow and repay. The exact salary requirement usually depends on the bank, your employer, and the loan amount you’re applying for.

Bank-Listed Employer

If your employer is already approved or listed with the bank you’re applying to, your loan application is usually processed faster and with fewer complications. Banks see listed companies as lower risk, which can improve your chances of approval. This can be especially helpful if you’re an expat who is new to the UAE and doesn’t yet have a long local credit history.

Credit Score Matters a Lot

Your credit history is tracked by al etihad credit bureau (AECB). With a good credit score, you can get approval quickly and secure lower interest rates. On the other hand, missed EMIs, cheque bounce records, or taking on too much debt can negatively impact your score.
Thus, it’s best to stay disciplined with repayments and borrowing.

Debt Burden Ratio (DBR) is Capped at 50%

As per UAE Central Bank regulations, your total monthly financial commitments, including personal loans, auto loans, credit card payments, and more, cannot exceed 50% of your monthly income. This rule is to ensure you don’t overborrow and can comfortably manage your repayments.

Interest Rate Type: Flat vs Reducing

As an expat, you should know that personal loans usually come with two interest options: flat and reducing rate. While flat rates may appear lower at first glance, they often end up costing more over the full loan tenure. To clearly understand the actual cost of the loan, always check the APR (Annual Percentage Rate) before making a decision.

Note: You can use a personal loan calculator UAE to see how the instalment amount looks for different interest rates.

Eligibility Criteria for a Personal Loan in UAE for Expats

Different banks have varying eligibility criteria for personal finance, especially for expatriates. However, most lenders follow a common set of requirements in most aspects. Here are the key criteria you need to fulfil to qualify for a personal loan for expats in UAE -

Eligibility Criteria	Requirements
Age	You must be at least 21 years old
Employment Status	Both a salaried and a self-employed individual
Minimum Income	Minimum monthly salary of AED 5,000

Note: Your respective bank may have other eligibility criteria. Make sure to confirm before applying.

✍️ It’s also a good idea to have a high credit score. This can simplify the approval and even qualify you for favourable terms.

Know all about Your Personal Loan Eligibility

Check loan eligibility and apply personal loan

How to Apply for Personal Loans for Expats in UAE?

With Paisabazaar.ae, it’s quite simple to apply for personal loans for expats in UAE. This online platform lets you compare multiple personal finance solutions from different banks. By entering just a few essential details, you can secure a high loan amount as per your salary and financial needs.

Discussed below are the simple steps to apply for this loan -

Visit the homepage of Paisabazaar.ae and click on the ‘All Loans’ option
Select ‘Personal Loan for Expats’
Fill out the lead form with the accurate details
Submit the form and wait for a call back from our representative for further instructions

Documents Required for Personal Loan in UAE for Expats

When applying for personal loans, you may need to submit a few documents. For a smooth process, it’s important to know the standard requirements. Here are some of the key documents required to secure a personal loan for expats in Dubai or any other Emirate -

Emirates ID
Valid passport and residence visa (if applicable)
Salary transfer (if required)
Salary certificate
Last 3 months' bank statements
Details of existing loan (if any)

✍️ If required, the chosen bank may ask for some additional documents

Summing Up

Applying for personal loans for expats is not complex if you know the correct procedure. By understanding the basic eligibility requirements and documentation, you can secure the right finance solution. Additionally, trusted platforms like Paisabazaar.ae also assist expats in choosing the right personal loan option in a quick time.

Frequently Asked Questions

Ans: Yes, many banks like FAB, RAKBANK, Emirates NBD, ADCB, and more offer personal loans for expatriates in the UAE. If you meet the criteria related to age, minimum income, and more, you can easily get these loans as an expat.

Ans: There isn’t a single fixed minimum salary to get a personal loan in the UAE for expats. However, most banks have their own eligibility criteria. You may require a minimum monthly income ranging from AED 3,000 to AED 5,000 or even higher, depending on the bank and employer category.

Ans: You can find many banks offering loans with low interest rates for expats. The list includes FAB, ADCB, Emirates NBD, and more. Note that the actual rate depends on your financial profile, loan amount, credit score, and other factors.

Ans: To get personal loans for expats, you typically need to provide the following documents -

Completed application form
Emirates ID
Residence visa
Latest salary certificate/salary transfer letter
Last 3 months’ bank statements

You can find the best personal loan for expats in the UAE by comparing multiple options and their interest rates, loan tenures, documentation, and more. You can use Paisabazaar.ae to compare multiple loan options and get the right one.