Filipino Money Lender in Dubai [Where Can you Find]

If you are looking for a “Filipino money lender in Dubai”, the Overseas Filipino Bank is the best option. You can also find some private Filipino money lenders that are authentic and you can prefer to take a loan from such a money lender.

I strongly recommend to check if the money lender is authentic before you decide to take a loan from him. Stay away from unregistered money lenders that are not only illegal but also dangerous.

Is Personal Money Lending Illegal in Dubai, UAE?

Yes, personal money lending without a valid license is illegal in Dubai, UAE. A person must apply for a license to lend money to other people in Dubai or other Emirates.

If a person or a group of people lends money without a valid license, it is illegal and unlawful in Dubai, UAE. The UAE government considers such people as criminals and they can get arrested & punished according to the law.

Is Taking a Loan from Private Lenders Illegal in Dubai, UAE?

Yes, taking a loan from private lenders who do not have a valid license is illegal in Dubai, UAE. According to UAE law, both the private money lenders and borrowers are equally responsible for the illegal money lending activity.

Before you take a loan, you should ask the lender to show a valid license. If the lender refuses to show the license, you must not take any loan from that lender.

I strongly recommend not to take money from an unregistered lender in Dubai, UAE. Because both the lender and you will face legal consequences including the arrest, legal fines and imprisonment.

Filipino Money Lender in Dubai

Getting a loan in Dubai is very easy in present time. You can apply for a personal loan to any bank, finance institute or private lender.

It is obvious to look for a Filipino money lender in Dubai if you are a citizen of Philippines working in Dubai, UAE. Because you have more trust on a person or bank that belongs to your home country.

Where Do I Find Filipino Money Lenders in Dubai?

It is a bit tough to find Filipino money lenders in Dubai for an overseas Filipino worker. But you must not give up without trying, you should do online research to find out authentic Filipino money lenders in Dubai, UAE.

When you search it online, you should include Filipino banks, finance institutes and private lenders who are present in Dubai or other Emirates of UAE.

Along with online research, you should talk to your friends,, coworkers/colleagues and relatives in Dubai. You should ask everyone you know about authentic Filipino money lenders available nearby you.

After doing all your research, you can find some authentic Filipino money lenders or Kabayan money lenders in Dubai. If the money lenders are 100% authentic, you can trust them to get a loan to fulfill your urgent need of funds.

Is There a Filipino Bank in Dubai?

Yes, there is a Filipino Bank in Dubai named Overseas Filipino Bank (OFB). It provides easy and improved banking services to Filipino workers in UAE so that they can send money to their families in Philippines.

Overseas Filipino Bank [OFB] Dubai

Overseas Filipino Bank (OFB) is a well known and reliable bank in Philippines. The OFB bank has opened a branch in Dubai to provide all banking services to Filipino workers in UAE.

The banking services of Overseas Filipino Bank have become digital to allow all customers to access these services online.

The Overseas Filipino Bank is a legal and authentic money lender in Dubai, UAE. You can trust OFB to get a loan from it without any risk of fraud or illegality in future.

You just need to repay the loan to OFB bank in installments on time otherwise the bank will take legal action against you.

Eligibility Criteria to Get a Loan from Overseas Filipino Bank

You can trust Overseas Filipino Bank to get a loan from it in Dubai, UAE. But the OFB bank will approve your loan only if you are eligible for it. To make it clearer for you, here I provide eligibility criteria for a loan from Overseas Filipino Bank in Dubai, UAE.

• Minimum Age Must be 21 Years or Above.
• Maximum Age Must be Under 65 Years.
• Must Have a Regular Income with a Valid Proof.
• Monthly Income Must be More than the Loan Installment.
• Must be Actively Working in UAE for Last 2 Years or Longer.

If you meet all eligibility criteria mentioned above, you can apply for a loan to the Overseas Filipino Bank.

Required Documents to Get a Loan from Overseas Filipino Bank

You must meet the eligibility criteria to apply for a loan to Overseas Filipino Bank. With your loan application form, you have to submit some important documents. Here I provide the list of documents required when you apply for a loan to Overseas Filipino Bank as follows.

1. An Identity Proof: A valid passport or voter ID or driving license or postal ID or SSS ID or PRC ID or NBI Clearance or OFW ID or OWWA ID
2. A Valid Income Proof: Salary Certificate or Equivalent Document
3. Loan Application Form: A properly filled and signed loan application form

You should fill up and submit your application with above mentioned documents to Overseas Filipino Bank. It is completely safe to get a loan from OFB bank in Dubai compared to an unknown Filipino lender.

The approval of your loan from Overseas Filipino Bank is completely in the hands of the bank. The OFB bank can approve or reject your loan application after reviewing and verifying your form, documents, credit score and credit history.

Safety Tips When You Take a Loan from a Filipino Lender in Dubai

When you take a loan from a Filipino lender in Dubai, you need to be very careful. If it is a bank then it is safe but it is not safe to take a loan from a private lender without checking his authenticity.

Here I provide important safety tips that you must keep in mind when you decide to take a loan from a Filipino lender in Dubai, UAE.

• Do a thorough research about a money lender before you contact him personally.
• Check and Verify that the money lender is authentic and possesses a valid license for lending money in UAE.
• Do not share any confidential information with the money lender.
• Do not give your passport as a collateral or guarantee for the loan.
• Do not trust what the money lender says, do check the loan agreement before you sign it.
• Check the interest rate and calculate it before you agree to take the loan.
• Do not let the private lender know about your family and its address.
• Repay the loan installments on time to avoid unwanted problems with the money lender.

Some private money lenders in Dubai are dangerous. They give you a loan then harass you with threatening calls if you cannot repay it on time. If the harassment is too much, you can file a police complaint against such lenders.

What Should I Do If I cannot Find an Authentic Filipino Money Lender in Dubai?

You should apply for a loan to a bank if you cannot find an authentic Filipino money lender in Dubai. If you meet the eligibility criteria and have necessary documents, the bank will approve your loan shortly.

If the bank refuses to give you a loan, then you should go for an alternative.

You can ask a friend or a relative for the money you need. Borrowing money from a friend is much safer than a stranger money lender whom you cannot trust.

You can offer some interest to your friend so that your friend can consider it as an investment and agree to give you the money.

Final Advice

There are many banks and finance institutes in Dubai. They are registered to lend money through a legal process of loan to individuals and organizations. In addition, there are authentic private money lenders available in Dubai, UAE.

I have explained all important information about Filipino money lenders in Dubai to help you find an authentic money lender to take a loan legally and safely. You should repay your loan installments on time to save yourself from legal consequences.

FAQs

Here I provide some questions about the Filipino Money Lender in Dubai and their answers as well. Kindly check all the FAQs given below.