Non-salary transfer personal loans are a popular source of borrowing among UAE residents. Although the salary-transfer variant is a much cheaper alternative, often times non-salary transfer loans are the only option borrowers have.
These unsecured personal loans are the go-to choice for applicants who cannot commit their only source of income to the lender. Reasons can range from already having an active personal loan with their primary bank, to not being eligible for a salary-transfer loan (working for an unlisted company, not meeting other basic eligibility criteria etc.).
Looking for such a loan? We’ve done the research for you. Below, we’ve rounded up five personal loan options in the UAE that don’t require a salary transfer.
Emirates NBD Personal Cash Loan
You can access a maximum loan amount of AED 800,000 with this loan product. Not only does the bank not require you to transfer your salary to them, you also don’t have to be on their approved employers list to qualify.
Other important features
There’s a minimum monthly salary requirement of AED 6,000 to apply for this loan. The maximum repayment period is a standard four years.
[Compare and choose from over 70 personal loans in the UAE]
Citibank Personal Installment Loan
You can get a maximum loan of AED 175,000 with this product. Maximum loan eligibility is set at 8 times your monthly salary. A speedy approval and disbursal process is a key USP of this loan. One day is all it takes to get your final loan approval and the actual funding.
Other important features
There’s a minimum monthly salary requirement of AED 8,000 to apply for this loan. The maximum repayment period is a standard four years.
Emirates Islamic Personal Finance for Expats
This loan is compliant with Sharia law and enables borrowers to access high finance amounts of up to AED 2 million (for expatriates) and AED 4 million (for UAE nationals). The bank also advertises the use of this loan for debt consolidation purposes. So if you’re looking to cut your overall interest payments towards other high-interest debts, this loan could be an option worth considering.
Other important features
There’s a minimum monthly salary requirement of AED 10,000 for non-salary transfer loan applications. The maximum repayment period is a standard four years.
SimplyLife Non Salary Transfer Loan
You can secure a maximum loan amount of AED 200,000 with this product, subject to meeting other eligibility criteria. As an added bonus, you’re not liable to pay any early settlement fees if you repay the entire loan mid-tenure with your own personal funds.
Other important features
There’s a minimum monthly salary requirement of AED 8,000 to apply for this loan. The maximum repayment period is a standard four years.
Dunia Finance Personal Loan
Dunia offers competitive interest rates on this non-salary transfer loan, easy documentation and a quick approval turnaround time. It takes 48 hours to get your loan approval sorted. The loan also comes with an embedded insurance cover to cover loan repayment in case of death or permanent total disability of the applicant.
Other important features
There’s a minimum monthly salary requirement of AED 5,000 to apply for this loan. The maximum repayment period is a standard four years.
Looking to apply for a new loan, credit card or bank account? We’ve got you covered! Compare hundreds of credit cards, accounts, personal loans, car loans and mortgage products in the UAE.