Personal loan or personal finance comes to your aid when you need immediate financing for your personal needs. A personal loan works just like any other loan except for the fact that with personal loan, there is no restriction on what the loan amount can be utilized for.
Usually banks require the customer to have a salary transfer account with the bank in order to avail a personal loan from the bank. But some banks do offer personal loans for customers who don’t have a salary account with the bank. The personal loans without salary transfer are different from the personal loans with salary transfer in a lot of ways. A lot of banks offer personal loans without salary transfer in UAE.
Personal Loan Without Salary Transfer in UAE
Many banks in UAE has made borrowing even more easy for their customers by offering personal loans without salary transfer. The top banks in UAE provide similar loans to both expats residing in UAE and UAE nationals. The loans are easy to avail and have no restriction on what the loan amount can be used for. There is no need for the customer to go through the hassle of transferring their salary to the bank in order to avail the personal loan.
Top Personal Loans Without Salary Transfer in UAE
Listed below are some of the top banks in UAE that offer personal loans without salary transfer.
- Mashreq bank personal loan without salary transfer for expats:
There is no need for collateral or salary transfer with this personal loan offered by Mashreq Bank. The loan is specially designed for expats to make borrowing easier for the salaried expats living in UAE. The loan offers competitive rates of interest and high loan amounts. One can also choose the option of Islamic finance with the loan.
- Emirates NBD loan without salary transfer:
Emirates NBD helps its customers achieve their financial dream through their personal loans. UAE nationals and expats can avail the loan without transferring their salary account. The loan can be paid in flexible tenure periods that goes up to 48 months through Direct Debit System.
- Citibank personal installment loans:
Citibank offers personal loans known as ‘Personal Installment loans’ without salary transfer. The customer doesn’t have to transfer their salary account to citibank to avail the loan. The loan amount can go up to AED 175,000 depending on the eligibility of the borrower.
- Ajman Bank PDC for expats:
Ajman bank offers personal loans specially designed to suit the financial needs of expats. The expats can avail the personal loan without transferring their salary account to Ajman bank. The expat customer should earn a minimum amount of salary to be eligible for the personal loan.