Best PERSONAL LOAN INTEREST IN UAE

Last Updated on November 30, 2019

You know what? The Banks of the UAE do not charge similar interests to the borrowers either personal or business loans. The different bank has a different interest rate, different requirement and different measurement to the recovery of the loan. Therefore you should know that the personal loan interest rate in UAE or state of Dubai depends on the bank.

Even in the same bank, the personal or insecure loan that does not require any collateral for the issuance has divided into several products. For example; personal loan for travel, personal loan for debt settlement, personal loan of house renovation, personal loan for education, etc.

Those above are the personal loan categories come with different interest, do you think it is fair? whatever you think it up to you, but this is the way the UAE bank lends the customer as the product of the personal loan.

The UAE bank interest rates also depend on nationality. If you are UAE national you are entitled to a subsidy on the personal loan or business loan interest, but the foreigners have no concession.

It is crystal clear that expatriates in the UAE have to pay more interest in the personal loan in Dubai or any other emirates to compare to the UAE national. The UAE national aslo takes advantage of the foreigners over the volume of a loan. For example; ex-pats can apply up to 2 million personal loans similar salary Emirati can eligible up to 5 million.

In this post, I have tried to give you the information regarding the best personal loan rate of interest in the UAE for both residence, UAE national and the Expats.

The method of interest calculation for a personal loan in Dubai.

Every bank has an interest calculation online calculator on their website you can use that tool for the interest estimation. Most of the bank offers two types of the interest rate.

1. Flat
2. Reducing

The banks of the UAE or Dubai offer two types of interest to the browsers, flat rate and another is reducing rates. The flat rate interest means the interest will not change how much installment you pay and how much principal you have reduced. For example, you have borrowed 20000 from the bank for 1yrs and the interest rates are 5% your first installment will

• 20000/12 = 1666.67 principal
• 20000 X 5%/12 = 83.34 interest

monthly installment = 1750.01

You have to make the above payment every month until the loan period expires. The principle and the interest will not change until you complete the loan repayment cycle.

The reducing rate of the interest calculates the base of outstanding principal. Every month the interest reduces along with the outstanding principal. Each month you have to pay the different installment amounts because of the reducing interest and the principal.

If you have only 3000 salaries per month and looking for a personal loan in the United Arab emirates click here.

Which bank offers the best personal loan in UAE?

Here is the complete information regarding the UAE bank personal loan interest based on a salary base on product categories and the nationalities.

Comparision of the Personal loan interest in UAE 

1. Emirates Islamic -personal loan

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,257
• Flat Rate interest: 3.99%
• Salary Transfer
• Apply Now 

2. RAKBANK – Personal Loan

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,251
• Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

3. FAB – Personal Loans for Expats

• Minimum Salary: AED 7,000
• Monthly Payment: AED 2,303
• Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

4. FAB – New to Employment Loans

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,147
• Flat Rate interest: 2.9%
• Salary Transfer
• Apply Now 

5. Emirates NBD – Personal Loans for Expats

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,203
• Flat Rate interest: 2.77%
• Salary Transfer
• Apply Now 

6. ADIB – Personal Finance for Expats

• Minimum Salary: AED 8000
• Monthly Payment: AED 2251
• Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

7. Citibank – Personal Loan

• Minimum Salary: AED 8000
• Monthly Payment: AED 2246
• Flat Rate interest: 3.73%
• Salary Transfer
• Apply Now 

8. Commercial Bank of Dubai – Personal Loan

• Minimum Salary: AED 8000
• Monthly Payment: AED 2220
• Flat Rate interest: 3.14%
• Salary Transfer
• Apply Now 

9. Noor Bank Personal Finance

• Minimum Salary: AED 8000
• Monthly Payment: AED 2228
• Flat Rate interest: 3.33%
• Salary Transfer
• Apply Now 

10. FAB – Personal Loans for UAE Nationals

• Minimum Salary: AED 7,000
• Monthly Payment: AED 2,203
• Flat Rate interest: 3.76%
• Salary Transfer
• Apply Now 

11. Emirates NBD – Personal Loan for UAE Nationals

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,209
• Flat Rate interest: 2.9%
• Salary Transfer
• Apply Now 

12. Emirates NBD –  Personal Loan Non-Salary Transfer

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,437
• Flat Rate interest: 7.9%
• Non-Salary Transfer
• Apply Now 

13. Emirates NBD – Self Employed Personal Loan 

• Minimum Salary: AED 20,000
• Monthly Payment: AED 2,537
• Flat Rate interest: 10.01%
• Non-Salary Transfer
• Apply Now

14. CBD Absher Personal Finance

• Minimum Salary: AED 8,000
• Monthly Payment: AED 2,189
• Flat Rate interest: 2.45%
• Salary Transfer
• Apply Time

15. Al Wifaq Personal Finance

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,200
• Non Flat Rate interest: 2.7%
• Non-Salary Transfer
• Apply Time

16. united Arab Bank – Personal Loans for Expatriates

• Minimum Salary: AED 7,500
• Monthly Payment: AED 2,214
• Flat Rate interest: 3.02%
• Salary Transfer
• Apply Time

17. United Arab Bank – Personal Loans for UAE Nationals

• Minimum Salary: AED 7,500
• Monthly Payment: AED 2,214
•  Flat Rate interest: 3.02%
• Salary Transfer
• Apply Time

18. United Arab Bank – Cash Flow Loans

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,177
• Flat Rate interest: 2.18%
• No-Salary Transfer
• Apply Now

19. Dubai Islamic Bank – Sukuk Finance Expats

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,303
•  Flat Rate interest: 4.99%
• Salary Transfer
• Apply Now

20. Mashreq New to UAE or New to Employer Personal Loan

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,303
• Flat Rate interest: 4.99%
• Salary Transfer
• Apply Now

21. Simply life – Salary Transfer Loans

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,274
• Non Flat Rate interest: 4.36%
• Salary Transfer
• Apply Now

22. ADIB – Debt Settlement personal loan

• Minimum Salary: AED 8000
• Monthly Payment: AED 2245
• Flat Rate interest: 3.72%
• Salary Transfer
• Apply Now 

23. Standard Chartered Bank – Personal Loan

• Minimum Salary: AED 30,000
• Monthly Payment: AED 2238
• Flat Rate interest: 3.55%
• Salary Transfer
• Apply Now

24. Commercial Bank International – Personal Loan

• Minimum Salary: AED 8,000
• Monthly Payment: AED 2209
• Flat Rate interest: 3.55%
• Salary Transfer
• Apply Now

25. NBF Personal Finance

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2240
• Flat Rate interest: 3.6%
• Salary Transfer
• Apply Now

26. NBF- Personal Loan 

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2229
• Non-Flat Rate interest: 3.36%
• Salary Transfer
• Apply Now

27. ADCB – Smart Loan

• Minimum Salary: AED 8,000
• Monthly Payment: AED 2,483
• Non-Flat Rate interest: 8.89%
• Salary Transfer
• Apply Now

28. Al Hilal Bank Personal Finance for Expats

• Minimum Salary: AED 7,000
• Monthly Payment: AED 2,225
• Non-Flat Rate interest: 3.25%
• Salary Transfer
• Apply Now

29. Al Hilal Bank Personal Finance for UAE Nationals

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,225
• Non-Flat Rate interest: 3.25%
• Salary Transfer
• Apply Now

30. Al khaliji France – Personal Loan

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,225
• Non-Flat Rate interest: 3.25%
• Salary Transfer
• Apply Now

31. ADIB – Personal Finance for UAE Nationals

• Minimum Salary: AED 8000
• Monthly Payment: AED 2245
• Flat Rate interest: 3.72%
• Salary Transfer
• Apply Now 

32. ADIB – Debt Settlement for UAE Nationals

• Minimum Salary: AED 8000
• Monthly Payment: AED 2233
• No Flat Rate interest: 3.45%
• Salary Transfer
• Apply Now 

33. ADIB – Education Finance for Expats

• Minimum Salary: AED 8000
• Monthly Payment: AED 2251
• No Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

34. ADIB – Education Finance for UAE Nationals

• Minimum Salary: AED 8000
• Monthly Payment: AED 2245
• No Flat Rate interest: 3.72%
• Salary Transfer
• Apply Now 

35. ADIB – Travel Finance for Expats

• Minimum Salary: AED 8000
• Monthly Payment: AED 2251
• No Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

36. ADIB – Travel Finance for UAE Nationals

• Minimum Salary: AED 8000
• Monthly Payment: AED 2245
• No Flat Rate interest: 3.72%
• Salary Transfer
• Apply Now 

37. ADIB – Boat Finance for Expats

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,251
• No Flat Rate interest: 3.85%
• Salary Transfer
• Apply Now 

38. ADIB – Boat Finance for UAE Nationals

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,245
• No Flat Rate interest: 3.72%
• Salary Transfer
• Apply Now

39. Commercial Bank International – Revolving Overdraft

• Minimum Salary: AED 80000
• Monthly Payment: AED 0
• Flat Rate interest: -%
• Salary Transfer
• Apply Now

40. Dubai Islamic Bank – Sukuk Finance Expats

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,298
• No Flat Rate interest: 4.9%
• Salary Transfer
• Apply Now

41. ADCB – Personal Loan for Expatriates

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,233
• No Flat Rate interest: 3.45%
• Salary Transfer
• Apply Now

42. Finance House – Executive Finance

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,323
• No Flat Rate interest: 3.45%
• Salary Transfer
• Apply Now

43. Dunia Finance – Personal Loan

• Minimum Salary: AED 5,000
• Monthly Payment: AED 3,163
• Non-Flat Rate interest: 22.22%
• Salary Transfer
• Apply Now

44. Mashreq Bank – Non-Salary Transfer Personal Loan For Expatriates

• Minimum Salary: AED 7,000
• Monthly Payment: AED 2,737
• No-Flat Rate interest: 14.12%
• Salary Transfer
• Apply Now

45. Arab Bank – Personal Loan

• Minimum Salary: AED 0
• Monthly Payment: AED 2,348
• No-Flat Rate interest: 5.99%
• Salary Transfer
• Apply Now

46. Commercial Bank of Dubai – Personal Loan

• Minimum Salary: AED 8,000
• Monthly Payment: AED 2,216
• No-Flat Rate interest: 3.06%
• Salary Transfer
• Apply Now

47. SIB – Murabaha Personal Finance for Expatriates

• Minimum Salary: AED 6,000
• Monthly Payment: AED 2,249
• No-Flat Rate interest: 3.79%
• Salary Transfer
• Apply Now

48. Emirates NBD – Debt Consolidation

• Minimum Salary: AED 8000
• Monthly Payment: AED 2,278
• No-Flat Rate interest: 4.44%
• Salary Transfer
• Apply Now

49. FAB Personal Debt Consolidation Loan for UAE Nationals

• Minimum Salary: AED 10,000
• Monthly Payment: AED 2,227
• Flat Rate interest: 3.31%
• Salary Transfer
• Apply Now 

50. NBF- Islamic Personal Finance

• Minimum Salary: AED 5,000
• Monthly Payment: AED 2,229
• Flat Rate interest: 3.36%
• Salary Transfer
• Apply Now