How to Get Personal Loan in UAE with AED 4000 Salary

Financial Crisis can occur anytime in your life. You may need money for some personal things and you want to get a personal loan. But you do not know if you can get a personal loan in UAE with 4000 salary or not.

Each bank in UAE has its terms & conditions for personal loans. You must meet the eligibility criteria and agree to all T&C to get a personal loan from the bank. You should continue reading to know how to get a personal loan with 4000 salary in UAE and its procedure.

Can I Get a Personal Loan in UAE with AED 4000 Salary?

Yes, you can get a personal loan in UAE with 4000 salary. According to my research and knowledge, getting a personal loan with AED 3000 or more is now possible. The banks in UAE have become liberal to offer personal loans to people with low salaries of AED 3000, AED 4000, AED 5000 or more.

If your monthly salary is AED 4000 then you can get a personal loan in UAE. You must provide your salary certificate and all required documents to apply for a personal loan.

If you meet the minimum age, eligibility criteria and other conditions of the bank then you can get a personal loan within a week.

How to Get Personal Loan in UAE with AED 4000 Salary

There are two banks that offer personal loans in UAE with 4000 salary. These banks are Dubai Islamic Bank (DIB) and RAK Bank. Both the banks are reputed and well known for their attractive loan offers for their customers.

The Dubai Islamic Bank and RAK Bank offer a personal loan to every person who earns a salary of AED 3000 or more. If your monthly salary is AED 3000 or higher then you can get a personal loan from Dubai Islamic Bank.

You can also apply for a loan at RAK Bank if it is more convenient for you.

Eligibility Criteria for a Personal Loan in UAE with 4000 Salary

In order to get a personal loan in UAE, you must meet all the eligibility criteria set by the bank. The Dubai Islamic Bank and RAK Bank offers personal loans to UAE nationals and expats with minimum AED 3000 salary per month.

Here I provide all eligibility criteria for a personal loan with AED 4000 salary as under.

Dubai Islamic Bank: Eligibility Criteria for a Personal Loan in UAE

• At the time of applying, your age must be at least 21 years and not more than 60 years if you are a UAE national/citizen.
• Your age must be at least 21 years and not more than 65 years if you are an expat (expatriate UAE resident).
• You must be earning a monthly salary of minimum AED 3000 or more.
• You must be working in the current company/organization for six months or longer.

RAK Bank: Eligibility Criteria for a Personal Loan in UAE

• On the date of loan application, your age must be between 21 years and 60 years if you are a UAE national/citizen.
• Your age must be between 21 years and 65 years if you are an expat (expatriate UAE resident).
• You must be employed when applying and working in the same company/establishment for longer than six months.
• Your monthly salary must be minimum AED 3000 or more to get a personal loan from RAK Bank.

Documents Required for a Personal Loan with 4000 Salary in UAE

You must have all the documents asked by the bank to apply for a personal loan with AED 4000 salary in UAE. Here I provide the list of documents required for a personal loan as under.

1. A Copy of Valid Passport for UAE Nationals
2. A Copy of Valid Passport with Valid Residence Visa for Expats (Expatriate UAE Residents)
3. A Copy of Valid Emirates ID
4. Salary Certificate or Salary Transfer Letter
5. Statement of Account for Last 3 Months If Your Salary is Credited to Any Other Bank
6. A Copy of Valid Trade License If You Are Self-Employed
7. A Properly Filled up and Signed Loan Application Form

In addition to above documents, the bank may ask for more documents if it requires for your loan process. You have to submit your personal loan application form with valid documents to Dubai Islamic Bank or RAK Bank.

After application submission, the bank will check your application, documents, credit history, credit score and other things. Thereafter the bank will send an email to your registered email address to inform about your personal loan approval or rejection.

The loan process may take up to 7 days after you submit the application form.

Final Verdict

When you apply for a personal loan, you must check the minimum salary required for the loan. With AED 4000 salary per month, you are eligible to get a personal loan in UAE.

All you need to do is to apply for a personal loan with your salary certificate and other required documents. You can get a personal loan from Dubai Islamic Bank and RAK Bank if your monthly salary is AED 3000 or more.

The bank will check your credit history and then approve your personal loan in 1-2 days. Sometimes the bank may take up to 7 days to approve your personal loan and then you can repay it in monthly installments.

FAQs

You can apply for a personal loan and get it approved in 1-2 days if you have enough knowledge about it. Here I provide some important questions about personal loan with AED 4000 salary. You should read all FAQs and their answers given below.