We will tell you how you can obtain a low-salary personal loan in UAE. You can read more about the best places to get a loan, how to apply for a loan, and what you need to do to get the best rate.
A personal loan refers to such loan that is available almost in every kind of bank with many other facilities attached to it. Such a loan is not only useful for the common man but businessmen and job holders are also interested to take this loan. Because they all know very well how valuable and beneficial is this loan. By taking personal loan they can resolve many problems without facing many difficulties. The method of applying loan is not difficult nowadays, everybody can avail this loan by visiting the branch of the bank near their hometown.
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They can obtain the information first related to the method and you will be glad to know that it is now available on the internet as well. There are a few banks here in UAE that are ready to give you a low salary personal loan in UAE. So, if you are a common man and your monthly earnings are not so high. So still you can apply for this personal loan with specific terms and conditions. This article will indicate the personal loan qualities of the banks that offer consumers to take a personal loans on their low salaries.
What is the minimum salary range in UAE for a personal loan?
The salary range usually depends on the specific bank through which a candidate will get a personal loan. Because in UAE, there are lots of banks with existing branches that are scattered here and there. So nobody knows the exact amount of minimum salary that various banks are offering right now but if we talk about the previous days. So that old data tell us the minimum salary that was charged by banks is about 3000 AED. It is considered the lowest range salary in UAE. when a person takes a personal loan against this limit so that loan is called the low salary personal loan in UAE.
Different banks are offering different ranges of salary. some will offer you 3000 AED, some will offer you 4000, similarly, the starting range is 3000 and it ends up at 8000 AED. All these salary ranges from 3000 – 8000 will depend upon the bank and on the total amount of loan that you applied. For getting more information related to your specific bank, you should contact the branch of that bank. It is better to get info first before applying for the finest loan hub.
Can we get a personal loan in UAE on a 2500 salary?
This question is mostly asked by those persons who are small job holders and they want to get a personal loan due to their private reasons. So the answer is, there are very rare banks you will find in UAE that will appreciate this idea. Because the lowest amount of salary normally is 3000 AED and below this range, nobody will give you a loan easily. But if you find any bank that is allowing you on this salary range so, that bank will also impose some high rate of interest on it. So, you have to be careful in finding such banks throughout the UAE, because it is normally considered a bad idea.
Reasons behind taking a personal loan
- Some crucial reasons exist behind this loan taking attention. Most people try to settle their lives through such loan so that they can improve their lifestyle and provide a comfort zone to their families.
- Sometimes, a business owner needs to tackle some important cases related to financial matters. This procedure needs a huge amount therefore, taking the finest loan hub will be a mandatory thing for that owner.
- When someone needs to do some sort of study courses inside or outside the UAE. So, he/she like to prefer to take a personal loan for the fee submission process.
- Any kind of ceremony at home or any other working place needs to be done through urgent cash availability. Especially when it comes to the matter of weddings at home and the dowry purchasing issue related to marriage ceremonies. If you do not have enough money to resolve that issues So, this low salary personal loan in UAE will help you out in this wedding case.
Requirements for a Low salary personal loan in UAE
- You will have to fill out the personal loan form with all the essential details in it. Like, your name, address, email ID details, recent location in UAE, amount of loan, the purpose of the loan, work experience, etc.
- Your bank statements will be required by the bank to confirm your old debt history and present record.
- Work experience letter of working place or company.
- Emirate valid ID for the finest loan hub.
- Expats should attach their visa and passport copies also.
- The Salary certificate will be required
- Bring your Business or trading license with your driving license.