{"id":1895,"date":"2020-12-07T08:00:12","date_gmt":"2020-12-07T04:00:12","guid":{"rendered":"https:\/\/moneymall.ae\/credit-blog\/?p=1895"},"modified":"2020-12-07T08:25:40","modified_gmt":"2020-12-07T04:25:40","slug":"personal-loan-requirements","status":"publish","type":"post","link":"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/","title":{"rendered":"Personal loan requirements, eligibility criteria and documents needed in UAE"},"content":{"rendered":"<p><span style=\"font-weight: 400;\">A personal loan is basically every average human\u2019s requirement at some point-of-time and so personal loan requirements, it rules, and guidelines may vary from place-to-place and for person-to-person. Therefore, in this article, we shall let you <\/span><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_79 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2334ea3fbd5\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2334ea3fbd5\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Know_the_Personal_loan_requirements_Eligibility_criteria_and_documents_needed_in_UAE\" >Know the Personal loan requirements, Eligibility criteria and documents needed in UAE.<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#What_are_the_personal_loan_eligibility_criteria_in_UAE\" >What are the personal loan eligibility criteria in UAE?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Age_limit\" >Age limit:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Employment_history\" >Employment history:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#UAE_residency_or_Citizenship\" >UAE residency or Citizenship:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Minimum_salary_per_month\" >Minimum salary per month:<\/a><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#What_are_the_documents_required_for_a_personal_loan_in_UAE\" >What are the documents required for a personal loan in UAE?<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#ID_Proof\" >ID Proof:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Residency_Proof_valid_Resident_visa\" >Residency Proof\/ valid Resident visa:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Bank_Statement\" >Bank Statement:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Salary_Certificate_Pay_Slips\" >Salary Certificate &amp; Pay Slips:<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/moneymall.ae\/credit-blog\/personal-loan-requirements\/#Salary_Transfer_Letter\" >Salary Transfer Letter:<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"Know_the_Personal_loan_requirements_Eligibility_criteria_and_documents_needed_in_UAE\"><\/span><span style=\"font-weight: 400;\">Know the Personal loan requirements, Eligibility criteria and documents needed in UAE.<\/span><span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><span style=\"font-weight: 400;\">Continue reading\u2026<\/span><\/p>\n<figure id=\"attachment_1944\" aria-describedby=\"caption-attachment-1944\" style=\"width: 512px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-1944\" src=\"https:\/\/moneymall.ae\/credit-blog\/wp-content\/uploads\/2020\/11\/loan-4.png\" alt=\"personal loan requirements\" width=\"512\" height=\"512\" \/><figcaption id=\"caption-attachment-1944\" class=\"wp-caption-text\">[toc] personal loan requirements<\/figcaption><\/figure><span style=\"font-weight: 400;\">A personal loan is unsecured in nature and so you do not require any guarantor or collateral to avail it. Due to which personal loans are procured for various personal requirements, some of which may be weddings, trips, higher education or even starting a new business. If you have ever thought of availing a personal loan and wondered about the basic requirements and the procedure to get one, you are in the right place.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">Before you proceed with your application for a personal loan, the first and foremost thing to do is to check the eligibility criteria of the bank. Only when you, as an applicant, meet all the eligibility criteria, you can move to the next step and apply for the loan. So, let us know what the eligibility criteria are that you will have to fulfil if you wish to get a personal loan in UAE.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_are_the_personal_loan_eligibility_criteria_in_UAE\"><\/span><b>What are the personal loan eligibility criteria in UAE?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">The most commonly-asked requirements for personal loans in the UAE can be categorized as:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Age_limit\"><\/span><b>Age limit:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> The requirements for a personal loan in UAE usually include a minimum age of 21 years and a maximum of anywhere between 60-65 years at the time of loan maturity.<\/span><\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Employment_history\"><\/span><b>Employment history:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> To avail a personal loan, it is mandatory to be employed. For major banks, the requirement is to be employed under a UAE employer which is already there in their approved employer list, which is not the case with others. However, in either case, getting a personal loan without a company listing with a particular bank is difficult.<\/span><\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"UAE_residency_or_Citizenship\"><\/span><b>UAE residency or Citizenship:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> To apply for a personal loan in Dubai or any of the other Emirates of the UAE, the borrower must be a resident of the UAE.<\/span><\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Minimum_salary_per_month\"><\/span><b>Minimum salary per month:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> Applicants must also fulfil the requirement of a minimum salary to apply for a personal loan in the UAE. This criterion, however, changes from bank-to-bank and from lender-to-lender.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Once you meet the eligibility criteria required to avail a personal loan in UAE, you can go ahead and apply for the loan online. All you have to do is fill in your basic details in the online application form. After you have done this, the next step is to get all your documents ready and then submit them. To take your application ahead, you will have to submit the required documents along with the form. So, let us now know which are the documents that you will require in order to avail a personal loan for yourself in UAE.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_are_the_documents_required_for_a_personal_loan_in_UAE\"><\/span><b>What are the documents required for a personal loan in UAE?<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">To apply for a personal loan in Dubai or any of the other Emirates of the UAE, you would be required to submit the following documents:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"ID_Proof\"><\/span><b>ID Proof:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> It is mandatory for applicants to have valid ID proof, that is, a passport, visa, and an Emirates ID.<\/span><\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Residency_Proof_valid_Resident_visa\"><\/span><b>Residency Proof\/ valid Resident visa:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> To avail a personal loan in the UAE, you will also be required to present valid proof that you are a resident of the UAE with a valid UAE resident visa.<\/span><\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Bank_Statement\"><\/span><b>Bank Statement:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> Lenders usually ask for a bank statement of the last 3-6 months to track your earning potential and regular salary income credit every month<\/span><\/li>\n<li>\n<h3><span class=\"ez-toc-section\" id=\"Salary_Certificate_Pay_Slips\"><\/span><strong>Salary Certificate &amp; Pay Slips:<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p>Personal Loan applicants have to provide a salary certificate mentioning gross and net salary.<\/li>\n<li style=\"font-weight: 400;\">\n<h3><span class=\"ez-toc-section\" id=\"Salary_Transfer_Letter\"><\/span><b>Salary Transfer Letter:<\/b><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><span style=\"font-weight: 400;\"> A salary transfer letter is optional in some cases and it is only required by personal loans that mandate salary transfers that also after getting loan approval.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">So, these were the documents that you shall require in order to avail a personal loan in UAE. Make sure that you keep your documents ready while applying for your loan. Once you submit the required documents along with the application form, the loan provider will verify your loan application as well as the documents submitted. If your application gets successfully verified, your request for a loan shall be approved after which the loan will get sanctioned.<\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-weight: 400;\">We hope that this article clarified all your doubts regarding the process of availing a personal loan in UAE.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A personal loan is basically every average human\u2019s requirement at some point-of-time and so personal loan requirements, it rules, and 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