Get a Personal Loan on AED 17000 Salary in UAE: A Step-by-Step Guide

If your salary is 17,000 AED and you are thinking of taking a personal loan in UAE, then you can get many good options. There are many banks that give loans up to 8 times your salary, which can be helpful in meeting your financial needs. 

Personal loans generally require a minimum salary of AED 5,000, and most banks offer loans with loan repayment periods of up to 48 months and low interest rates. 

In this article, we will discuss about the 7 best banks in UAE that offer the best personal loan with salary up to 17,000 AED so you have to read this article completely.

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List of 7 Banks to Get a Personal Loan on AED 17000 Salary in the UAE

If your salary is 17,000 dirhams and you want to take a personal loan, then it can be easy for you. 

Personal loan is a loan that the bank gives you to meet your needs and it does not require much paperwork. But every bank has some special rules which you need to fulfill so that your loan can be approved.

For this you will have to submit the correct documents and follow all the conditions of the bank. Only then will you be able to get the loan of your choice.

Best Personal Loans in UAE For AED 17000 Salary

If you want to take a personal loan in UAE and your salary is 17,000 dirhams and you want to take a personal loan in UAE, then you have many good bank options. Some banks in UAE also give personal loans on salary of 5,000 to 10,000 dirhams.

 These banks start loans at interest rates as low as 2.59% and offer different loan plans that can suit your salary and needs. 

Top Banks Offering Personal Loans in UAE 17,000 Salary, some major banks like Emirates Islamic Bank, Commercial Bank of Dubai, First Abu Dhabi Bank, and Emirates NBD offer you these loans. 

Bank Name	Plan Name	Minimum Salary (AED)	Interest Rate (Fixed)	Key Features
Emirates Islamic Bank	Personal Finance for UAE Nationals	10,000	2.59%	Islamic Finance, High Finance Amount, Simple Documentation
Emirates Islamic Bank	Personal Finance for Expats	10,000	2.85%	Islamic Finance, Flexible Repayment, Simple Documentation
First Abu Dhabi Bank	Personal Loan for Expats	7,000	2.82%	Fast Approval, Life Insurance Coverage, Flexible Payment Terms
Commercial Bank of Dubai	Quick Loan	8,000	Starting from 7.60%*	No Salary Transfer, Paperless Process, Loan up to AED 150,000
First Abu Dhabi Bank	Non-Salary Transfer Personal Loan for Expats	15,000	8.70%	No Salary Transfer, Life Insurance Coverage, Flexible Payment Terms

Interest rates and facilities of major banks for loan against salary up to 17,000 dirhams in UAE

What are the interest rates and facilities available from major banks for loan on salary up to 17,000 dirhams in UAE? Here I have given the details below about the banks which give loan at the lowest interest rate and the banks which give loan at the highest interest rate. The information given in the points is as follows: 

1. Lowest Interest Rate:

• Emirates Islamic Bank (2.59% and 2.85%) offers Islamic finance and facilitates simple documentation.
• First Abu Dhabi Bank: Offers loans with fast approval and life insurance coverage.
• Commercial Bank of Dubai: Loan is available at an interest rate of 7.60%, which does not require salary transfer.

2. Highest Interest Rate:

• First Abu Dhabi Bank (8.70%) : Applies to loans without salary transfer.

Personal loan available in UAE for salary up to 17,000 dirhams

If your salary is 17,000 dirhams, then FAB (First Abu Dhabi Bank), Emirates NBD, HSBC, Citibank, EIB (Emirates Islamic Bank), RAKBANK, and Mashreq Bank all these banks offer personal loans for salary up to 17,000 dirhams. 

Information about interest rates and loan tenure of various banks is given in the table given below.

Bank	Flat Interest Rate Starting From	Reducing Interest Rate Starting From	Minimum Salary Required	Salary Transfer
Emirates NBD	2.72%	5.24%	AED 10,000	NA
EIB (Emirates Islamic Bank)	2.25%	4.20%	AED 10,000	Mandatory
RAKBANK	2.75%	4.99%	AED 5,000	Mandatory
FAB (First Abu Dhabi Bank)	3.02%	5.70%	AED 7,000	Mandatory
Mashreq Bank	3.43%	5.99%	AED 7,000	Not Mandatory
Citibank	3.80% – 4.90%	6.99% – 8.99%	AED 8,000	Mandatory
HSBC	NA	6.99%	AED 10,000	Mandatory
CBD (Commercial Bank of Dubai)	NA	15.99% – 18.99%	AED 10,000	Not Mandatory

Summary: Emirates banks like NBD and EIB offer loans at low interest rates, while CBD interest rates are relatively higher. RAKBANK and FAB offer more loans, but they have salary transfer requirements. Citibank and HSBC also offer loans, but their interest rates are higher than other banks.

1. Emirates NBD Personal Loan

Emirates NBD Personal Loan is a convenient option for salaries up to Dh17,000 in UAE. This loan is available at attractive interest rates and the process to apply for the loan is simple. With this loan you get flexible repayment dates, high loan amount, and fast application approval. The minimum monthly salary should be AED 10,000. 

Key features and benefits of Emirates NBD Personal Loan:

• attractive interest rates: Starting from 2.72% on flat rate and 5.24% on decreasing rate.
• Free Dam Credit Life: This plan protects you in the event of death and total disability.
• Quick Approval: Loan application approval is usually received within 48 hours.
• Flexible Repayment Tenure: Repayment tenure up to 48 months available.
• Payment date as per salary: You can choose the payment date based on your monthly salary.

Why choose Emirates NBD Personal Loan?

Emirates NBD Personal Loan for Salary up to Dh17,000 in UAE is an excellent option that provides quick financial assistance. This loan is available without any hassle and the customer service is also very good, which helps you in solving any problem after repaying the loan.

2. Emirates Islamic Bank Personal Loan

Emirates Islamic Bank Personal Loan is an excellent option for residents in the UAE, available at high loan amounts and attractive interest rates. With this loan, you get the flexibility of longer repayment tenure, which helps you meet your financial needs. The minimum monthly salary should be AED 10,000. 

Key features and benefits of Emirates Islamic Bank Personal Loan:

• Higher Loan Amount: Loan amounts up to AED 4 million are available for UAE citizens.
• Flexible Repayment Tenure: Repayment tenure up to 4 years available. Flat profit rates start at 2.25% and declining rates start at 4.20%.
• No over-limit fees: No additional fees are charged.
• Debt Consolidation: Can be used to consolidate existing debts.
• Shariah based financing: According to the Murabaha structure.
• Simple and quick approval: Loan approval is simple and quick.

Why choose Emirates Islamic Bank Personal Loan?

Emirates Islamic Bank Personal Loan offers you high loan amounts for all your personal needs. Its low profit rates and minimal processing fees make it a convenient option. A personal finance calculator is also available on the bank’s website, which helps you calculate your monthly repayment amount and find the loan amount and repayment tenure as per your capabilities and budget.

3. RAK Bank Personal Loan

RAK Bank is a reliable option if you are looking for a high loan amount against AED 17,000 salary in UAE. This bank offers high loan amount, flexible repayment tenure, and low interest rates. The minimum monthly salary should be AED 5,000. 

Key Features and Benefits of RAK Bank Personal Loan:

• High loan amount: The loan amount can be up to 20 times the applicant’s salary.
• Flexible Repayment Tenure: Repayment tenure up to 48 months.
• Low Interest Rates: Interest rates start from 2.99%.
• Free Banking Services: Free debit card, credit card, checkbook, and bank account.
• Life Insurance Coverage: Life insurance coverage to borrowers at nominal rates.
• Simple Application Process: Simple application process with minimum documentation.

Why Choose RAK Bank Personal Loan?

RAK Bank personal loan is an attractive option with high loan amounts, low interest rates, and free banking services. Additionally, phone banking services and life insurance at nominal rates are also available, making it an excellent loan option in UAE.

4. First Abu Dhabi Bank (FAB) Personal Loan

First Abu Dhabi Bank (FAB) is an excellent option if your salary is AED 17,000 and you need a loan for immediate personal needs. Loans as high as AED 5 million for citizens in the UAE and AED 2 million for expatriates are offered by this bank. The application can be made online, thereby avoiding the complexity of documentation. The minimum monthly salary should be AED 7,000.

Key features and benefits of First Abu Dhabi Bank Personal Loan:

• Higher loan amounts: Loans up to AED 5 million for citizens and AED 2 million for expatriates.
• Long repayment tenure: Up to 48 months and up to 60 months for Ministry of Defense employees.
• Interest Rate: Flat interest rate starts from 3.02% and variable interest rate starts from 5.70%.
• Grace Period: Grace period of 150 days for first payment.
• Simple Documentation Process: No complex documentation required for the application.
• Available to government and reputed private sector employees.

Why Choose First Abu Dhabi Bank Personal Loan?

FAB’s Personal Loan with AED 17,000 Salary is flexible and has a relatively low interest rate. With quick approval and quick disbursement of funds, this loan is an easy option for many customers. FAB Personal Loan also includes free life insurance coverage, no processing fees and other benefits.

5. Mashreq Bank Personal Loan

Getting a personal loan in UAE with AED 17,000 salary can be challenging for many expats. But Mashreq Bank solves this problem, offering a variety of personal loans for both UAE citizens and expatriates. Whether you need to plan your next vacation, pay for overseas education, or renovate your home, Mashreq Bank personal loans are available to meet all your personal needs. The minimum monthly salary should be AED 7,000.

Key Features and Benefits of Mashreq Bank Personal Loan:

• High loan amount: The loan amount can be up to 20 times your income.
• Flexible Repayment Tenure: Repayment tenure up to 48 months.
• Competitive interest rates: Starting at 3.43%.
• No guarantor or asset required: No guarantor or asset is required for the loan.
• Top-up facility: Option to top-up the loan is available.
• 24/7 Phone Banking Services: Always available customer service.
• Credit cards and revolving overdrafts: To access.

Why Choose Mashreq Bank Personal Loan?

Mashreq Bank’s Personal Loan AED 17,000 with Salary offers multiple benefits such as top-up facility, simple documentation, quick processing, access to credit facility, flexible repayment tenure and high loan amount. These features ensure that you can access the loan efficiently and repay it with ease.

6. Citibank Personal Loan

Citibank offers personal loans with salary up to AED 17,000 in UAE and has been offering personal loan products since 1971. Citibank personal loans are available with high loan amounts and competitive interest rates, and can be processed with minimal documentation. Applicants can apply online from the official website and the loan amount can be disbursed within a week. The minimum monthly salary should be AED 8,000.

Key Features and Benefits of Citibank Personal Loan:

• Online Application: Easily apply from the comfort of home.
• Loan Top-up: The loan can be easily topped up as and when required.
• Interest Rate: The interest rate is fixed and is calculated on a compounding basis – rates range from 6.99% to 8.99%, which vary depending on the profile of the customer.
• Flexible Repayment Tenure: Repayment period from 6 to 48 months.
• High loan limit: Loans available up to AED 500,000 or 20 times your salary.
• Minimum Processing Fee: 1% of the total amount.
• Availability: Both UAE citizens and residents can apply.

Why Choose Citibank Personal Loan?

If you ever need extra money, Citibank can easily provide it to you. Citibank Personal Loan with AED 17,000 Salary offers multiple benefits such as quick approval, minimal documentation, and more. Additionally, Citibank Personal Loan can help in consolidating high interest debts or meeting financial needs like home renovation, wedding expenses etc.

7. HSBC Personal Loan

HSBC offers personal loan with salary up to AED 17,000 in UAE, which can help you meet your financial needs. Be it higher education fees or wedding expenses, HSBC provides its customers with quick funding at affordable interest rates, with rates starting from 6.99%. HSBC has a sliding interest rate, which means the interest is applied to the remaining loan amount each time. As you repay the monthly installments, the loan outstanding amount reduces and the interest amount also reduces. The minimum monthly salary should be AED 10,000.

Key Features and Benefits of HSBC Bank Personal Loan:

• Higher Loan Amount: Maximum loan amount up to AED 500,000.
• Online Application: Personal loans can be applied for online, which usually gets approved within a few minutes.
• Flexible repayment tenure: Tenure ranging from 6 months to 48 months, making loan repayment easy.
• Decreasing Interest Rates: Interest rates start from 6.99%.

Why Choose HSBC Bank Personal Loan?

HSBC Personal Loan with AED 17,000 salary is a great option for UAE residents due to its flexible repayment tenure and quick approval process. The bank also provides a personal loan calculator, through which you can find out how much loan you can get from the bank, what will be the interest rate, and what will be the repayment period of the loan.

8. CBD Personal Loan

Commercial Bank of Dubai (CBD) offers personal loans with salary up to AED 17,000 in UAE. This bank offers high loan amounts to both UAE nationals and expatriates to meet all their needs ranging from medical expenses to education abroad. With a CBD Personal Loan you can avail a flexible repayment tenure of up to 4 years. The minimum monthly salary should be AED 10,000.

Key Features and Benefits of CBD Personal Loan:

• Digital Application: No need to visit the physical branch, you can apply through the digital mobile application of the CBD.
• Apply with Emirates ID only: Use only your Emirates ID to avail the personal loan.
• Flexible Repayment Tenure: Repayment tenure up to 48 months.
• No salary transfer required: No salary transfer required to avail the loan.
• Maximum loan amount: Loan amount up to AED 150,000.

Why Choose CBD Personal Loan?

If you want to take a personal loan with a salary of AED 17,000, Commercial Bank of Dubai is a suitable option. You can apply for this personal loan online, without any paperwork, and can also use it to consolidate existing loans. Although CBD personal loan applicants are required to transfer salary, CBD makes an exception for bona fide employees of renowned organizations.

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How to apply for personal loan against salary of AED 17,000

With a salary of AED 17,000 in UAE, you can get a personal loan from Mashreq Bank, Citibank, HSBC, and Commercial Bank of Dubai (CBD). Here is the step-by-step process for all banks:

1. Visit the bank’s website or mobile app:

Use the official website or mobile app of Mashreq Bank, Citibank, HSBC, or Commercial Bank of Dubai (CBD).

2. Check Eligibility Criteria:

• Mashreq Bank: AED 7,000 monthly salary required.
• Citibank: AED 8,000 monthly salary required.
• HSBC: AED 10,000 monthly salary required.
• CBD: AED 10,000 monthly salary required.

3. Fill the Application Form:

• Submit the online application form by filling your information.

4. Upload Documents:

Upload the required documents for all banks, such as:

• Emirates ID
• Passport
• Residence Visa (for expatriates only)
• Bank statement of last three months
• Salary Certificate (only for salaried employees)
• Trade License (for self-employed individuals)

5. Use the loan top-up or calculator (if available):

• Use the loan calculator for HSBC.
• Select Top-up option for Mashreq Bank.

6. Process and Approval:

• The bank will scrutinize your application and documents.
• After approval, the loan amount will be deposited into your bank account.

By following these steps, you can easily get a personal loan from Mashreq Bank, Citibank, HSBC, or Commercial Bank of Dubai (CBD).

Eligibility Criteria for Personal Loan in UAE 17000 Salary

Getting a personal loan in UAE with a salary of AED 17,000 is quite easy, if you meet the general eligibility criteria. 

1. The applicant must be at least 21 years of age.
2. The applicant must be working in a government, semi-government, or a reputed private organization.
3. The applicant must have a good credit score.
4. For some banks, there may be a requirement of minimum employment period of the applicant.
5. A salary transfer account is made mandatory by some lenders.

Documents Required for Personal Loan in UAE 17000 Salary

To apply for a personal loan in UAE with a salary of AED 17,000, you need to be ready with some required documents. 

1. Completed application form.
2. emirates id
3.  Copy of passport and residence visa (for expatriates).
4. Bank account statements for the last three months.
5. Salary certificate letter for salaried employees.
6. Trade license for self-employed persons.

FAQs: Related to Personal Loan in UAE For AED 17000

Final Words

As a UAE resident, citizen, or expatriate with a salary of AED 17,000, there are many options available to avail a personal loan. Many major banks and financial institutions in the UAE offer personal loans with relatively low minimum salary requirements. Meeting the eligibility criteria and providing the required documents will ensure a smooth application process. To find out the best personal loan options, you can visit the Inewkhusi.com website and visit the ‘Personal Loan in UAE’ section where you can compare the top plans available at competitive rates.