Top 10 Banks Offering Personal Loans in UAE for 20,000 AED Salary

If your salary is 20,000 dirhams, then you can take a personal loan up to 8 times your salary in UAE. The EMI repayment period of this loan can be up to 48 months, which is quite convenient. The interest rates for this loan are very low, due to which you do not have to face much financial burden.

This loan is available to all individuals whose minimum salary is 5000 dirhams. You can use this loan to meet your personal needs, such as home renovation, marriage, education or travel expenses.

In this article, you will get information about the 10 best banks in UAE that offer personal loan for salary above 20,000 dirhams, interest rates, EMI options and conditions to apply explained in detail. You have to read this information with us till the end.

Top 10 Best Banks For Personal Loan in UAE with 20000 Salary

If your salary is 20,000 dirhams and you want to take a personal loan in UAE, then many big banks and financial institutions can provide you loan. These banks include Commercial Bank of Dubai, Emirates Islamic Bank, Emirates NBD, Deem Finance, First Abu Dhabi Bank, HSBC, Dubai Islamic Bank, RAKBANK, and Abu Dhabi Islamic Bank. 

You can take a loan from these banks as per your needs, such as for higher education, home decoration, wedding planning, or business expansion. To apply for a personal loan, you must be at least 21 years of age and have a minimum salary of Dh20,000. 

Some banks require salary transfer, while other banks provide loans even without salary transfer. Interest rates and loan terms may vary across banks, so it is important to compare plans across banks to make the right choice.

Best Personal Loans in UAE

If your salary is 20,000 dirhams and you want to take a personal loan in UAE, there are great options available from many banks. These banks include low interest rates, easy loan application process, and flexible repayment options. Some banks require salary transfer, while some banks provide loans even without salary transfer. 

Below we have given information about some of the top banks in UAE that provide personal loan for salary up to 20,000 dirhams. You can use this information to select the most suitable bank and plan for you.

Bank Name	Name of the Scheme	Fixed Interest Rate
Emirates NBD	Loans for Expatriates	0
Emirates NBD	Loans for UAE Nationals	0
Deem Finance	Personal Loan	0
HSBC	Personal Loan	N/A
First Abu Dhabi Bank	Personal Loan for Expats	2.82%
First Abu Dhabi Bank	Personal Loan for UAE Nationals	4.74%
First Abu Dhabi Bank	New to Country Loans / New to Employment Loans	3.24%
Dubai Islamic Bank	Personal Loan	4.90%
Commercial Bank of Dubai	Quick Loan	7.60%
Abu Dhabi Islamic Bank	Personal Finance	N/A
Emirates Islamic Bank	Personal Finance for Expats	2.85%
Emirates Islamic Bank	Personal Finance for UAE Nationals	2.59%
RAKBANK	Personal Loan	2.85%
First Abu Dhabi Bank	Non salary transfer Personal Loan for Expats	8.70%
First Abu Dhabi Bank	Non salary transfer Personal Loan for UAE Nationals	5.72%

Here Choose Your Salary Related Personal Loan:
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Best 10 Banks Providing Personal Loan for AED 20,000 Salary in UAE

There are many great banking options available to avail personal loan for salary above 20,000 AED in UAE. These banks include reputed names like Citibank, FAB, and HSBC that offer personal loans with attractive interest rates and simple loan application processes. 

Citibank personal loan comes with a flat rate of 3.8% to 4.9% and reducing rate of 6.99% to 8.99%, making it a great option. 

FAB’s Personal Loan also offers strong competition with a flat rate of 3.02% and reducing rate of 5.70%, exclusively available to UAE citizens.

HSBC, EIB, and Mashreq Bank are also good options for salary transfers and offer satisfactory interest rates.

RAKBANK and Finance House fall in the average category with their low minimum salary requirements and attractive rates. 

ADCB’s Personal Loan offers a unique option with no salary transfer required, although the interest rate may be slightly higher. Information about which bank can be best for you is given in the table below. 

Bank Name	Flat Rate	Reducing Rate	Minimum Salary (AED)
Citibank Personal Loan	3.8 – 4.9%	6.99 – 8.99%	AED 8,000
FAB Personal Loan for UAE Nationals	3.02%	5.70%	AED 7,000
HSBC Personal Loan	N/A	Starting from 6.99%	AED 10,000
EIB Personal Finance for UAE Nationals	2.25%	4.20%	AED 10,000
Mashreq Personal Loan for UAE Nationals	3.43%	5.99%	AED 10,000
Emirates NBD Loan for UAE Nationals	4.86%	5.49%	AED 5,000
Sharjah Islamic Bank Personal Loan	3.79%	6.87%	AED 8,000
RAKBANK Personal Loan	2.75%	4.99%	AED 5,000
Finance House Personal Loan	N/A	20%	AED 5,000
ADCB Personal Loan	3.45%	6.25%	N/A

Note: Citibank and FAB may be the best option as they come with low interest rates and the minimum salary requirement is also moderate. HSBC and Mashreq Bank are also good options, while ADCB loan without salary transfer stands out as a special option.

1. ADCB Bank Personal Loan

ADCB’s personal loan, available for salaries up to AED 20,000 in the UAE, is an attractive option. This loan is available to both UAE citizens and expatriates at competitive interest rates, with loans available up to 20 times the salary. The maximum loan amount is 750,000 AED for UAE citizens and 600,000 AED for expatriates. The repayment period of this loan is up to 4 years and there is no need for salary transfer.

Benefits of Abu Dhabi Commercial Bank Personal Loan

• The maximum loan amount that can be taken for UAE citizens is up to AED 750,000
• The maximum loan amount that can be availed for expatriates is AED 600,000
• Loan repayment period is up to 4 years
• Flat interest rate is 3.45% and reducing rate is 6.25%
• Top-up option available after 6 months
• Credit life insurance is not required
• Online loan approval in 10 minutes
• Credit card and complimentary debit card
• No salary transfer required
• Phone banking service facility is also available.

2. Finance House Personal Loan Finance

Finance House offers personal loans in the UAE for individuals with a salary of up to AED 20,000, available at competitive interest rates. The reducing interest rate on this loan starts from 20%, and also includes a flexible repayment tenure, giving you flexibility in repaying your loan. Additionally, this loan also comes with the facility of grace period on the first installment. If you want to transfer a loan from any other bank to Finance House, this process is also very simple.

Benefits of Finance House Personal Loan

• Minimum Salary Requirement: AED 5,000 only 
• Loan Repayment Tenure: Maximum 48 months, allowing you to easily pay the monthly installments.
• Top-up Loan: Top-up loan option is available after 1 year.
• Loan Transfer: Loans from other banks can be easily transferred to Finance House.
• Interest Rate: Reducing interest rates starting from 20%, which gives you relief in repaying the loan.
• Other benefits: Free RAKBANK Debit Card and customized checkbook, RAKBANK Credit Card with no annual fee, 24/7 phone banking service, and salary transfer requirement with insurance facility.

3. RAKBANK Personal Loan

RAKBANK’s Personal Loan is an attractive option for individuals with a salary of AED 20,000, where you can avail a loan up to 20 times your salary. This loan is available at competitive interest rates and is preferred by many due to its flexible repayment tenure. Additionally, this loan has a reducing interest rate of up to 4.99% and a flat rate of 2.75%, making it quite affordable. 

Benefits of RAKBANK Personal Loan

• Flexible Repayment Tenure: Maximum repayment tenure of up to 4 years is available.
• Minimum salary requirement: AED 5,000.
• Loan amount: You can get a loan up to 20 times your salary.
• Interest Rate: Flat Rate 2.75% and Reducing Rate 4.99%.
• Other benefits: Free credit card, check book, insurance, phone banking, free bank account, and salary transfer facility with free debit card.

4. Sharjah Islamic Bank Personal Loan

Sharjah Islamic Bank’s personal loan is a profitable option for individuals with a salary of AED 20,000 which is based on the Murabaha structure under Shariah law. There is no interest or riba, making it a Shariah-compliant financial product. This loan can help you pay education fees, make personal investments, or furnish your home. The maximum amount of this loan can be up to AED 2.5 million and its repayment tenure is up to 4 years. 

Benefits of Sharjah Islamic Bank Personal Loan

• Loan amount: Up to AED 2.5 million
• Loan Repayment Tenure: Deposit can be made in monthly installments up to 4 years.
• Minimum salary: Should be up to AED 8,000.
• Profit Rates: Flat rate available at 3.79% and reducing rate at 6.87%.
• Early Settlement Fee: Up to 1.05%
• Documentation Fee: 1.05% is applicable.
• Cashback: Cashback facility of AED 2,500 will be available on online application of loan.
• Other benefits: Features like free credit card, free debit card, free bank account, salary transfer, insurance, and phone banking services can be availed

5. Emirates NBD Loan for UAE Nationals

Emirates NBD Personal Loan is a great financial product for UAE citizens. This loan is available to individuals who have a minimum salary of AED 5,000 and are at least 21 years of age. The maximum loan amount can be up to AED 800,000 and is available with a repayment tenure of up to 4 years.

 Following are the features and benefits of this loan:

• loan amount: Under this loan you can get finance up to AED 800,000, which can be enough for your big expenses or investments.
• Loan Repayment Tenure: This loan can be repaid over a tenure of up to 4 years, allowing you to adjust your monthly installments as per your budget.
• minimum salary: To avail the loan, your minimum salary should be AED 5,000, which is suitable for most salaried individuals.
• interest rates: Flat rate 2.90% and reducing rate 5.49% options are available on this loan, ensuring a profitable interest rate for your loan.
• Fast Loan Approval: The loan application process is completed quickly, due to which you get the loan quickly.
• Documentation Process:This loan requires minimal documentation, making it easy to apply.
• Early Settlement Fee: If you want to repay the loan early, you will have to pay 1% of the total finance amount as early settlement fee.
• arrangement fee: To initiate the loan, you will have to pay 1% of the total loan amount as arrangement fee.
• ATM access: You can access around 560 ATMs of the bank in UAE, giving you easy access to your financial services.

Other Benefits:

Some other benefits of Emirates NBD Personal Loan are as follows: 

• Free bank account: With the loan you get a free bank account, simplifying your financial arrangements.
• Insurance: The loan comes with the facility of insurance, which ensures your financial security.
• Free Debit Card: You get a free debit card, which you can use for bank transactions.
• Phone Banking Service: You can avail 24/7 phone banking service, allowing you to access your banking services at any time.

6. Mashreq Bank Personal Loan for UAE Nationals

Mashreq Bank’s Personal Loan is an attractive option for UAE citizens and expats, available at competitive interest rates. The maximum amount of this loan can be up to AED 150,000 and requires a salary transfer.

 Following are the key benefits and features of this loan:

• minimum salary: To avail the loan, your minimum salary should be AED 10,000, which ensures a stable financial position.
• Interest Rates: Flat rate 3.43% and reducing rate 5.99% options are available on the loan, allowing you to avail lower interest rates on your loan.
• Loan Repayment Tenure: The loan can be repaid over a tenure of up to 48 months, offering flexible repayment options as per your budget.
• Maximum Loan Amount: Under this loan you can get finance up to AED 150,000, which is suitable for large expenses or investments.
• Quick Loan Processing: The loan application process is fast, so you can get the loan quickly.
• Islamic Finance Option: If you are looking for Shariah compliant products, Islamic finance option is also available for this loan.
• Easy Documentation: The documentation process for the loan is simple and straightforward.

Other Benefits:

Some other benefits of Mashreq Bank Personal Loan are as follows: 

• Free bank account: The loan comes with a free bank account, making your financial arrangements easier.
• Free Debit Card: A free debit card is provided, which you can use for bank related transactions.
• Free Check Book: A free check book comes with the loan, which is helpful for check transactions.
• Salary Transfer: The loan requires salary transfer, which helps in availing the services of the bank.
• Phone Banking Service: 24/7 phone banking service is available, so you can access your banking services anytime.
• Insurance: Insurance facility is also available with the loan, which ensures your financial security.

7. Emirates Islamic Bank Personal Finance for UAE Nationals

Emirates Islamic Bank’s Personal Loan is a Shariah compliant financial product for individuals with a salary up to AED 20,000 in the UAE. This interest-free personal loan provides financial assistance up to AED 4 million. This loan operates in accordance with Sharia laws and has no additional charges or over-limit fees. 

Benefits and Features of Emirates Islamic Bank Personal Finance Loan:

• Shariah-compliant Islamic finance products: This loan is completely as per Sharia laws, allowing you to focus on profit rather than interest.
• No additional charges: There are no over limit fees or additional charges applicable on the loan, keeping the overall cost low.
• Low Profit Rates: The profit rates of this loan are quite competitive, which helps in reducing the financing costs.
• Profit Rates: Flat rate 2.25% per annum and reducing rate 4.20% per annum options available.
• Loan Repayment Tenure: The loan can be repaid over a tenure of up to 4 years, providing flexible repayment options.
• Quick Loan Approval: The loan application process is fast, allowing you to get the loan quickly.
• Maximum Loan Amount: Under this loan you can avail finance up to AED 4 million, which caters to larger financial needs.
• Loan combining facility: The loan can be used to repay credit card bills of other banks, thereby reducing the monthly payment.
• Salary Transfer Facility: The loan requires salary transfer, which simplifies the loan process.
• Minimum Salary: To avail the loan, your minimum salary should be AED 10,000, which ensures financial stability.

8. Noor Bank Personal Finance

Noor Bank’s Personal Loan in UAE is an attractive option for individuals with a salary of AED 20,000, offering loans up to 20 times your salary. This loan comes with flexible repayment tenure and competitive interest rates, making it one of the best personal loans in UAE. 

Noor Bank Personal Finance Loan Benefits and Features:

• Loan amount:
  •  For UAE citizens: Up to AED 3 million
  • For Expats: Up to AED 1 million
• minimum salary requirement:
  • For UAE citizens: AED 8,000
  • For expats: AED 6,50
• Loan Repayment Tenure: Loan can be repaid over a tenure of up to 48 months, making the monthly installments affordable.
• interest rates: Flat rate at 3.49% and reducing rate at 6.33% are available, making the loan affordable.
• simple documentation: Minimum documentation is required to avail the loan, making the process simple and quick.
• quick loan approval: Loan applications are approved quickly, giving you access to funds as quickly as possible.
• Pre-Approved Credit Card: The loan comes with a pre-approved credit card that comes with additional lifestyle benefits.
• cash out option: Facility to get cash in the form of personal finance is also available.
• other benefits: Features like insurance, flexible loan repayments and minimum documentation are also included.

9. Citibank Personal Loan

Citibank’s Personal Loan is an excellent option for individuals with a salary of AED 20,000, where you can get a loan up to AED 500,000 at competitive interest rates. There is no processing fee on this loan, which makes it even more attractive.

Benefits and Features of Citibank Personal Loan:

• loan amount: The maximum amount that can be availed is AED 500,000, which can be up to 20 times the salary.
• processing fee: There are no processing fees, making the process of taking a loan simple and affordable.
• Early Settlement Fee: There is a 1% charge on the remaining principal if you wish to pay off early.
• Minimum Salary: Should be AED 8,000.
• Interest Rates: Reducing rates are available from 6.99% to 8.99% and flat rates from 3.8% to 4.9%.
• Loan Top-up: The option to top up the loan is available if needed.
• Quick Loan Approval: The loan application process is available online, and in-principal approval is available within 10 minutes.
• Loan Repayment Tenure: The loan repayment tenure is flexible between 6 to 48 months.
• Salary Transfer: Salary transfer is required.

10. HSBC Personal Loan

HSBC Personal Loan is a beneficial option for individuals with a salary of AED 20,000, where you can get a loan up to AED 500,000. This loan is available for a tenure of 12 to 48 months and has a sliding interest rate, allowing you to reduce your monthly installments as well as the interest amount.

HSBC Personal Loan Benefits and Features:

• Interest Rate: The reducing rate starts at 6.99%, which decreases over time.
• Loan amount: The maximum amount that can be availed is AED 500,000.
• Loan Repayment Tenure: Flexible repayment tenures available between 12 to 48 months.
• Minimum Salary: Should be AED 10,000.
• Credit Life Insurance: Credit life insurance is not required for this loan.
• Customized Interest Rate: The interest rate is determined based on your profile and creditworthiness.
• Quick Approval: In-principal approval comes within 10 minutes.
• HSBC Account: You must have a current account with HSBC and transfer your salary to that account.
• Loan Top-up: The option to top up the loan is available as per your financial needs.
• other benefits: Here you also get the facility of insurance, minimum documents, salary transfer, flexible repayment period.

FAB Personal Loan for UAE Nationals

FAB Personal Loan is an attractive option for individuals with a salary of AED 20,000 in UAE. This loan is available for UAE nationals up to a maximum of AED 5 million and includes a number of additional benefits. 

Benefits and Features of FAB Personal Loan:

• Grace period: Grace period of up to 150 days before payment of the first installment.
• Interest Rate: Reducing rate 5.70% and flat rate 3.02%.
• Quick and easy approval: The loan approval process is fast and simple.
• Comprehensive Insurance Coverage: Includes comprehensive coverage of personal life insurance.
• Maximum Loan Amount: Loans up to AED 5 million for UAE nationals.
• Processing Fee: 0% processing fee on loans up to AED 500,000.
• Minimum Salary: Should be AED 7,000.
• Qualifications for 3.79% interest rate: Working in a FAB approved company and having a salary transfer account with FAB.
• Minimum Salary – AED 15,000.
• Special offer on Variable Interest Rate Loan: Introductory discount available on variable rate for first 9 months

Top 5  Banks Providing Personal Loan for AED 20,000 Salary in UAE

A comparison of personal loans from major banks in UAE for individuals with a salary of AED 20,000 shows that the best options include Citibank, HSBC, FAB, Emirates NBD, and Mashreq Bank. These banks offer loans with different interest rates, loan amounts and additional benefits. Depending on your needs and preferences, one of these banks may be the best fit for you.

Bank Name	Loan Amount	Other Benefits
Citibank	Up to AED 500,000	Top-up Loan, Flexible Tenure
HSBC	Up to AED 500,000	Customized rates, salary transfer required
FAB	Up to AED 5 million	Grace period, insurance coverage
Emirates NBD	Up to AED 800,000	Free Bank Account, Phone Banking
Mashreq Bank	Up to AED 150,000	Free Bank Account, Debit Card

How to Apply for Personal Loan for AED 20,000 Salary in UAE

To apply for a personal loan against AED 20,000 salary in UAE, first you need to select the appropriate bank, such as Emirates NBD, ADCB, Mashreq Bank, RAKBANK, or HSBC. Next, prepare the required documents such as Emirates ID, Resident Visa, Salary Transfer Certificate, and Bank Statement. You can apply online on the bank’s website or by visiting the offline branch. After review of the application, if approved, the loan amount will be released to you.

The step by step process to apply for a personal loan for AED 20,000 salary in UAE is as follows: 

1. Select Bank : Choose from Emirates NBD, ADCB, Mashreq Bank, RAKBANK, HSBC etc.

2. Prepare the necessary documents:

• Emirates ID
• resident visa or passport
• Salary Transfer Certificate (not older than 30 days)
• Bank statement of 3 to 6 months
• Business license (if you are self-employed)

3. Apply:

• Online: Visit the bank’s website, fill the application form and upload the documents.
• Offline: Visit the nearest bank branch, fill the application form and submit the documents.

4. Review of Application: The Bank will review your documents and application. In some banks, online application may get quick approval.

5. Loan Approval and Disbursement: Once the application is approved, the bank will release the loan amount and provide you with all the details.

Eligibility Criteria for Personal Loan for AED 20,000 Salary in UAE

To avail personal loan for AED 20,000 salary in UAE, minimum age should be 21 years and maximum age should be 60 to 65 years. Monthly salary should be between AED 2,500 to AED 4,000 and a good credit score is required. Applicants must be either salaried or self-employed individuals.

The eligibility criteria for Personal Loan for AED 20,000 Salary in UAE are as follows: 

Criteria	Description
Minimum Age	21 years
Maximum Age	60 to 65 years
Monthly Salary	AED 2,500 to AED 4,000
Credit Score	It should be good.
State of Freedom	Salaried or self-employed individuals.
Student	Not eligible

Documents Required for Personal Loan for AED 20,000 Salary in UAE

When applying for the loan, you will need to submit the following documents: Emirates ID, resident visa or passport, salary transfer certificate, 3 to 6 months’ bank statements, and business license (for traders). Documents may vary depending on the bank and some banks may also ask for additional documents.

The required documents for personal loan for AED 20,000 salary in UAE are as follows: 

Document	Description
Emirates ID	For residents and citizens.
Resident Visa/Passport	For foreigners
Salary Transfer Certificate	Not older than 30 days from the date of loan application.
Bank Statement	3 to 6 months old
Business License	For traders

Conclusion

Many banks in UAE offer personal loans for AED 20,000 salary. However, for the loan to be approved and to meet your financial needs, you need to meet the eligibility criteria, which may vary depending on the loan provider. When applying, make sure you bring all the necessary documents, such as proof of income and identity, to make the process smoother.

Frequently Asked Questions: Offering 20000 Loan on Salary

Final Words

If your monthly salary is AED 25,000 and you are looking for a personal loan in UAE, many banks and financial institutions offer a variety of loan options for you. For more information and assistance, visit Inewkhusi.com where you will get detailed information on loan options from various banks and guidance on the application process. Use our website to help you make the right decision for your personal loan and get information today! If you want to ask us any kind of question, you can comment below and you will get a reply within 2 hours.