Several banks in UAE offer personal loans but what about their interest rate, well… we list out 5 such banks which offer personal loans at a low-interest in UAE. Choose from the suggested options and compare them against one another to choose the one that works the best for your requirements.

Personal loans are one of the most popular modes of financing in UAE. A personal loan, in basic terms, is an unsecured loan that does not require any guarantor or collateral to avail it. It comes in handy when the borrower has personal needs that are urgent or immediate in nature. Even though personal loans are easily available in UAE, it is extremely important to opt for a lender that is trustworthy and offers you a great borrowing experience, because a loan can dwindle your everyday finances and mess-up your overall budgetary considerations at a go. Given below are the banks that offer the most attractive interest rates in UAE. They also have quite a low salary requirement offering other attractive features that can come in handy for a plethora of multipurpose usages. Explore them below…

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ADIB Personal Loan

ADIB Personal Loan offers a flat interest rate of 3.72% for UAE Nationals and 3.85% for Expatriates. Moreover, the minimum monthly salary required is only AED 8,000 for both UAE Nationals and Expats. If that is not enough to convince you, ADIB also offers quite a few additional features for its borrowers, some of which are as follows:

  • Free pre-approved ADIB VISA Cashback Card
  • First instalment holiday period of up to 90 days
  • Two free instalment postponements every year

Emirates Islamic Bank Personal Loan

Emirates Islamic Bank offers personal loans at an interest rate that is as low as 3.99%. The bank asks for a minimum salary of AED 10000 per month while providing the following features:

  • Flexible and extended repayment periods of up to 4 years
  • Simple and quick approval process
  • High finance amount of up to AED 4 million for UAE Nationals and AED 2 million for Expats

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FAB Personal Loan

The interest rates of FAB Personal Loans can go as low as 3.99%. It can even drop down to 2.09% if the borrower is new to employment loans. In addition to a minimum salary requirement of AED 10,000, here are the other attractive features of this personal loan:

  • Simple documentation and fast-track approvals
  • Comprehensive personal life insurance cover
  • Flexible repayment terms

Emirates NBD Personal Loan

The salary transfer personal loans for Expatriates in Emirates NBD are offered at a flat rate of 2.9% and reducing rate of 5.49%. Yes, you read that right. The minimum salary requirement stands at AED 5,000 only. Additional features include:

  • Maximum loan amount extended up to AED 2 million for Expatriates
  • Free bank account with no minimum balance requirement
  • The maximum term of 36 months

Read More:- A Beginner’s Guide To Personal Loans in UAE

Citibank Personal Loan

Citibank offers a salary transfer personal loan at a flat interest rate of 3.73%. If you are looking for a loan with no mandatory salary transfer, you can get one at reducing rates ranging from 14% to 30%. AED 8,000 is the minimum monthly salary requirement. Other features are as follows:

  • Loan amounts of up to 20 times of your salary
  • Monthly installments starting from as low as AED 220
  • Tenors ranging from 6 months and going all the way up to 48 months

This completes our list of the best personal loans in UAE with low interests. Keep in mind that it is essential that you compare the interest rate of a particular bank with its processing fee as well as other features offered by the bank. Weigh them all together to come to a decision to opt for an apt personal loan as per your needs as well as budget.