Non-salary transfer loans, also known as personal loans or unsecured loans, are loans that are not tied to the borrower’s salary. Instead, they are based on the creditworthiness and financial history of the borrower.
Non-salary transfer loans, also known as personal loans or unsecured loans, are loans that are not tied to the borrower’s salary. Instead, they are based on the creditworthiness and financial history of the borrower.
The loan amount is typically disbursed to the borrower’s bank account and the repayment is done through monthly instalments. Non-salary transfer loans may have higher interest rates compared to salary transfer loans as the lender bears a higher risk. These loans may also require additional documentation and a good credit score for approval.
It is not mandatory to transfer your salary to a lending bank to apply for a Personal Loan in UAE. Now you can apply for a Personal Loan in UAE without Salary Transfer also. Might be the rate of interest is slightly higher as compared to Salary Transfer Loan as it’s considered as an unsecured loan in the UAE market. You can get approval within 24 hours if applying for a Personal Loan without Salary Transfer.
At Present numerous Banks and Financial Institutions are there to provide you Personal Loan without Salary Transfer. To name a few Citi Bank loans, ADCB Simply life Loan, Dunia Finance Loan, Finance House Loan, Fab, and lot more.
All listed and non listed company employees can apply for a Personal Loan without a Salary Transfer.
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All loans are not created equal, personal loan has become a great option for people to use.
Any salaried, self-employed, or professional is eligible for a salary transfer loan.
If you have a question that deals with clients, customers or the public in general, there is bound to be a need for the FAQ page.
Income proof is one of the mandatory document to apply for any loan in the UAE.
Minimum salary to apply for a loan in UAE is AED 5000, however eligibility differs bank to bank.
Yes, if your company is not listed still you can apply for a non-salary transfer loan in UAE, however you should meet all eligibility criteria.
Yes, any salaried or self-employed expat working in UAE can apply for non-salary transfer loan.
Now apply for a Loan online, All you need to do is provide your details below application form.
Disclosure Policy:
APR or Annual Percentage Rate of personal loan may range from 2.79% to 34% in the UAE.
The minimum loan repayment tenor is 6 months and the maximum loan repayment tenure is 48 months.
Processing Fee: 1% of the loan amount with a minimum of AED 500 and up to a maximum of AED 2,500
Maximum loan amount: AED 1000000
Representative Illustration
If a customer borrows a loan of AED 20,000 and earns an income of AED 10,000. With a repayment period of 48 months, the EMI would be AED 546 at an effective interest rate of 13.99% per annum.
The total repayment that would have been paid at the completion of the loan would be AED26,230, The borrower would be paying AED 6,230 as interest.
Processing Fee: 1% of Loan amount with min. AED 500 and up to a max. of AED 2,500