The UAE’s economy is improving, and new businesses are coming up daily. As a result, the financial institutions’ list of companies gradually becomes outdated. For this reason, many personal loan applicants have been turned down. However, there is reason to be hopeful, as financial institutions have begun to offer personal loans in the UAE without requiring a company listing. Let’s enlist some Personal Loan For Non-Listed Companies in the UAE.
List of Personal Loan for Non-Listed Companies
1. ADCB Personal Loan for UAE Nationals
2. Emirates NBD Personal Cash Loan
3. Emirates NBD Self-Employed Personal Loan for Professionals
4. FAB Islamic Personal Finance
5. Mashreq Bank Personal Loan for Expats
6. Mashreq Bank Employer/New to UAE Loan
ADCB Personal Loan for UAE Nationals
UAE nationals seek this loan; ADCB Personal Loan, a non-listed firm, offers favorable interest rates, larger multiples of wage as loan amount, flexible loan tenure, and simple eligibility standards. With features including membership in the ADCB rewards program, the ADCB Personal loan is one of the most profitable loans in the region. Applicants can apply for a loan amount up to 20 times their wage, available to both UAE nationals and Emirates.
Characteristics of ABCD Personal Program
- Life insurance with a credit rating.
- Documentation and approval are essential.
- ADCB credit card is offered as a courtesy.
- Attractive rates of interest.
- A considerable loan amount of up to 20 times the salary is provided.
Emirates NBD Personal Cash Loan
The purpose of Emirates NBD Personal Loan is to provide financial assistance to everyone who needs it. Applicants who work for a personal loan for non-listed companies can also pursue the bank’s cash loan.
Characteristics of Emirates NBD Personal Loan
- Over 560 ATMs are available in the UAE.
- Flexible loan conditions and extended payment duration.
- The possibility of a 7- day loan return is accessible.
- A maximum loan amount of AED 500,000 is acceptable.
- Both UAE nationals and expats can use it.
Emirates NBD Self-Employed Personal Loan
These customized loans are available to qualified professionals. Since Emirates NBD recognizes its role in society, securing this personal loan will be pretty simple.
Characteristics of Emirates NBD Self-Employed Personal Loan
- It is not essential to transfer the salary. Debit cards and bank accounts are offered for free.
- The loan is available to self-employed professionals such as accountants, architects, doctors, engineers, and many others.
- Borrowers are only allowed to skip two installments in a year.
- Option for seven-day debt repayment.
FAB Islamic Personal Finance
The goal of Emirates NBD is to provide economic help to everyone who needs it. Applicants who work for non-listed companies are also eligible to apply for the bank’s cash loan.
Characteristics of FAB Islamic Personal Finance
- 90-day grace period until the first installment is paid.
- Paperwork is essential and minimal.
- Personal life insurance coverage that is comprehensive.
- For UAE nationals, a loan of up to AED 5,000,000 is available, while for expats, a loan of up to AED 2,000,000.
Mashreq Bank Personal Loan for Expats
This Mashreq bank loan for non-listed enterprises meets the borrowing requirements of salaried expats working in the UAE. Mashreq Bank intends to provide personal loans to its customers in as little as one day.
Characteristics of Mashreq Bank Loan
- High loan amount of up to AED 1,000,000 (20 times salary).
- Competitive interest rates.
- Mashreq bank credit card is provided free of charge.
- For loans over AED 25,000, a current account with no balance, a debit card, and a cheque book is required.
- Flexible repayment policy of up to 4 years (5 years/60 months for Ministry of Defense personnel)
Mashreq Bank Employer/New to UAE Loan
This personal loan for non-listed companies is available to individuals who have recently migrated to the UAE or changed their jobs to assist them in settling in and meeting their immediate personal finance needs. Mashreq Bank intends to provide personal loans to its customers in as little as one day.
Characteristics of Mashreq Bank Loan
- An excessive loan amount of AED 150,000 is available.
- Islamic finance choice is also provided.
- Available bundled offers with additional benefits.
- Quick acceptance and concise documentation.
Frequently Asked Questions
Q1: Is it possible to acquire a personal loan if my business isn’t listed?
Ans: If your company is not listed with banks, the best option to get a loan is to approach non-bank financial companies (NBFCs). Bank loans are often smaller and are subject to various requirements.
Q2: Is it possible to receive a personal loan in the UAE without a wage slip?
Ans: You’ll need a salary certificate to get a personal loan in the UAE without a salary transfer.
Q3: What is the primary wage for a personal loan in the United Arab Emirates?
Ans: Minimum monthly pay requirements for permitted enterprises start at AED 7,000 and AED 10,000 for disapproved companies.
Q4: Who is eligible for economic assistance in the United Arab Emirates?
Ans: Individuals may apply for a personal loan secured by their salary and end-of-service reward or any other regular income they receive from a well-defined source, according to the Central Bank of the UAE. Personal loans should not be more than 20 times the borrower’s wage or total income value.