Expatriates in the UAE can now avail personal loans with utmost convenience thanks to an increasing number of banks opening their doors to people who arrive in the country and find it hard to keep up with the lifestyle requirements. The terms and conditions vary from those that apply to UAE nationals, but the deals are attractive nonetheless and customers now have it easier so far as meeting their financial requirements is concerned. Following are some of the best options for expatriates who are considering taking out a personal loan in the UAE.
ADCB Personal Loans for Expats
Abu Dhabi Commercial Bank caters to all sections of society, and has started offering exclusive offers for expatriates to help ease their financial burden. The bank has some flexible and low-cost loan offers of which expats residing in the UAE makes the most. The salary multiples are high, and the repayment period granted by this bank is higher than every other bank in comparison. The documentation process is also simple and the interest rates are low. Moreover, expatriates who avail a personal loan from ADCB can also get a free credit card.
Emirates Islamic Bank Personal Loan for Expats
Emirates Islamic Bank offers customers the opportunity to meet their personal financial requirements with the least bit of hassles. Financing is available to both self-employed and salaried expats and the rates of offer are highly competitive. Expats can take personal loans up to AED 1 million and the approval is granted as quickly as 24 hours. The annual fees during the first year get a 100% discount and a preapproved credit card is also handed to expats who take a personal loan from Emirates Islamic Bank. With nominal processing fees and exclusive policy terms with regards to buyout loans makes the bank one of the favourites so far as expats in the UAE are concerned.
Emirates NBD Personal Loans for Expats
Whether an expatriate has recently arrived in the UAE or is still looking for employment, they can meet their financial requirements with great convenience. Even if the expat cannot meet the bank’s minimum salary requirement to gain eligibility, Emirates NBD still makes provision for the loan in an attempt to help expats find it easier to settle down in the UAE. A variety of packages on offer means that customers will have a greater chance of finding the package that best suits their needs. The repayment periods are considerably long and the loan amounts vary depending upon the customer’s needs and financial status. The documentation process is also very simple and customers receive a free debit card and bank account upon availing a personal loan. Another great option provided by Emirates NBD is the exclusive loan return feature wherein customers who are not satisfied with the terms and conditions of the package can terminate the loan within a seven-day period.
Mashreq Bank Personal Services for Expatriates
Mashreq Bank has designed personal loans for expatriates to meet both unexpected and planned borrowing requirements. The loans will be sanctioned within 24 hours of application and the customers will be happy to know that the documentation process is also fairly simple. The loan amounts offered to expats can extend up to 20 times their salary.
Noor Bank Personal Loans for Expats
Noor Bank has made available personal finance to expats to help them meet their financial requirements. The profit rates on these loans start from 2.75% and customers receive a payment holiday of almost three months. The loan amounts offered are relatively high, with customers allowed a limit of AED 1 million. A top-up option and the choice to take a second finance is also available with the bank, and the maximum amount of time that the customer can take to repay the loan is four years. In addition, expats who take out a personal loan with Noor Bank are also granted a free credit card for the first year. With quick approvals and easy documentation, the personal loans offered by Noor Bank are continually increasing in popularity by the day. The minimum age to gain eligibility for a personal loan with Noor Bank is 21 years and the employer of the expat is required to be approved by the bank.