Top 7 Best Banks For Personal Loan in UAE with 17000 Salary

Personal loans are unsecured loans offered by lending institutions and banks to help you manage personal requirements quickly and without much documentation. However, while applying for a personal loan is easy, getting it sanctioned is altogether a different task. Different banks have different criteria to approve a personal loan application, and all these criteria have to be fulfilled to obtain the loan of your preference.

The income of the applicant is one such criterion set by all banks and loan providers. This factor is of key importance with respect to personal loan approval, as the salary of the applicant can indicate the applicant's ability (or a lack of it) to pay the monthly instalments on time. For individuals in the UAE with a salary of AED 17,000, the question arises as to whether one can find a personal loan on AED 17000 salary.

Several banks in UAE provide personal loans on AED 17000 salary. This article will discuss the top banks offering personal loans with AED 17000 salary and their key aspects.

Top Banks Offering Personal Loans in UAE 17,000 Salary

Note: The interest rates stated above can change at any time as per the discretion of the banks.

1. Citibank Personal Loan

Citibank is one of the top banks in the UAE, offering personal loans with AED 17000 salary. The bank has been offering personal loan products in UAE since 1971 and has become a leading choice among borrowers. Citibank personal loans are available at competitive rates with high loan amounts and can be processed with minimal documentation. Applicants can apply for a personal loan from the official website and have the loan amount disbursed within a week.

Minimum Monthly Salary Required: AED 8,000

 

Key Features and Benefits of Citibank Personal Loan

• Option to easily apply online from the comfort of your home
• You can easily top up the loan whenever required
• The interest rate is fixed, with the interest being calculated on a reducing basis – the rate varies between 6.99% and 8.99% depending on the customer profile
• Flexible repayment period between 6 and 48 months
• High personal loan amount limit of up to AED 500,000 or up to 20 times your salary.
• Minimal processing fee of 1% of the total amount
• Both UAE nationals and residents can apply for the loan

Why Choose Citibank Personal Loan?

If you require extra funds at any time, Citibank can easily provide you with them. Citibank personal loan with a salary requirement of AED 17000 has numerous benefits such as quick approvals, minimal documentation, and so forth. Moreover, Citibank personal loans can consolidate the high-interest debt or fulfil monetary needs such as home renovation, wedding expenses, and so on.

Click here to Apply for this Personal Loan

2. First Abu Dhabi Bank (FAB) Personal Loan

First Abu Dhabi Bank is an excellent option if you need a personal loan with AED 17000 salary and fulfil personal requirements urgently. The bank offers a high loan amount of up to AED 5 million to UAE nationals and up to AED 2 million to expatriates at a low-interest rate. Moreover, an applicant can apply for a personal loan through an online form available on the official website and avoid the hassle of tedious paperwork.

Minimum Monthly Salary Required: AED 7,000

Features and Benefits of First Abu Dhabi Islamic Bank Personal Loan

• The maximum personal loan amount offered to Emiratis is AED 5 million
• The maximum loan repayment period for borrowers is up to 48 months and 60 months for the employees of the Ministry of Defense
• Flat interest rate starting from 3.02% and variable interest rate starting from 5.70% 
• Grace period of 150 days for the first repayment
• Hassle-free documentation process
• Individuals working in the government or semi-government sector or a reputable private organisation can apply for the loan

Why Choose First Abu Dhabi Bank Personal Loan?

First Abu Dhabi Bank personal loans with AED 17000 salary are flexible and have comparatively low-interest rates. With instant approval and quick disbursement of funds, FAB personal loans make for an easy go-to choice for numerous customers. Moreover, several other benefits are associated with FAB personal loans, with the prime examples for the same being free comprehensive personal life insurance coverage, zero processing fees, and so forth.

Click here to Apply for this Personal Loan

3. HSBC Personal Loan

HSBC offers personal loans with AED 17000 salary that can help UAE residents fulfil their monetary needs. From sponsoring higher education to wedding expenses, HSBC permits loan borrowers to avail of instant funding at reasonable interest rates starting from 6.99%. HSBC interest rates are reducing in nature, meaning that the interest is calculated on the remaining loan amount each time. With the latter amount reducing each time the borrower pays the monthly payment, the applicable interest amount also keeps reducing. 

Minimum Monthly Salary Required: AED 10,000

Features and Benefits of HSBC Bank Personal Loan

• Maximum loan amount of up to AED 500,000
• Personal loans can be applied through the online application form, which generally takes minutes to approve
• Adequate repayment tenure ranging from 6 months to 48 months – ensuring easy repayment of the loan without stressing your finances
• Reducing interest rate starting from 6.99% 

Why Opt for HSBC Bank Personal Loan?

HSBC is an excellent choice for a personal loan with AED 17000 salary for UAE residents due to its flexible repayment tenure and rapid approval process. The bank also offers a personal loan calculator to determine the amount you can procure from the bank, the rate of interest charged, and the loan repayment tenure. 

Click here to Apply for this Personal Loan

4. CBD Personal Loan

Commercial Bank of Dubai (CBD) offers personal loans in the UAE with AED 17000 salary at competitive interest rates and offers high loan amounts to both UAE nationals and ex-pats. From medical expenses to overseas education and more – all such requirements can be fulfilled with Commercial Bank of Dubai personal loans that have a flexible repayment tenure of up to four years. 

Minimum Monthly Salary Required: AED 10,000

Key features and Benefits of Commercial Bank of Dubai Personal Loan

• No need to visit a physical branch as you can apply through CBD digital mobile application
• Easy option to avail of personal loans using only your Emirates ID
• Flexible repayment period of up to 48 months
• No salary transfer required
• Maximum loan amount of up to AED 150,000

Why Go for Commercial Bank of Dubai Personal Loan?

Commercial Bank of Dubai is an apt choice if you plan to take out a personal loan with AED 17000 salary. You can apply for this personal loan online without any paperwork and even use it to consolidate existing debts. While CBD personal loan applicants are required to make a salary transfer, CBD makes an exception for confirmed employees of renowned organisations.

Click here to Apply for this Personal Loan

5. Emirates Islamic Bank Personal Loan

Emirates Islamic Bank offers a mix of banking products that implement all the salient features of modern finance while adhering to the traditional values of Islamic Banking. With Emirates Islamic personal loan, UAE residents can avail of high loan amounts at attractive profit rates and a long repayment tenure.

Minimum Monthly Salary Required: AED 10,000

Key Features and Benefits of Emirates Islamic Bank Personal Loan

• Emirates Islamic Bank offers a high personal loan amount of up to AED 4 million to UAE nationals
• You can avail of the personal loan with flexible, extended repayment periods of up to 4 years with flat profit rates starting from 2.25% and reducing rates from 4.20%.
• No over-limit fees are charged
• With a manageable monthly payment instalment plan, this personal loan can be used to consolidate existing debts
• Sharia-based financing following the Murabaha structure
• Simple and quick approval

Why Go with Emirates Islamic Bank Personal Loan?

Emirates Islamic Bank personal loan allows you to borrow high loan sums for all your personal requirements. On top of all, its low-profit rates and nominal processing fees make it a highly convenient option for customers. Notably, the bank also provides a personal finance calculator on its website for calculating the monthly repayment amount and helps you find the loan amount and the repayment period that matches your capabilities and budget. 

Click here to Apply for this Personal Loan

6. RAKBANK Personal Loan

When it comes to applying for a personal loan in UAE with AED 17000 salary, Rakbank is a reliable option if you need a high loan amount to fulfil your requirements. RAKBANK offers a high loan amount of up to 20 times of applicant's salary, a flexible loan repayment tenure, and a low flat rate starting from 2.99%. Both UAE Nationals and ex-pats are eligible to apply for a personal loan. 

Minimum Monthly Salary Required: AED 5,000

Features and Benefits of RAKBANK Personal Loan

• Free debit cards, credit cards, chequebooks, and bank accounts are offered
• RAKBANK offers the maximum loan amount of up to 20 times your applicant's salary with a loan repayment tenure of up to 48 months
• The interest rate for this personal loan in UAE starts from 2.99%
• Borrowers get life insurance coverage at a nominal rate
• The loan application process is hassle-free with minimal documentation

Why Choose RAKBANK Personal Loan?

Besides the high loan amounts and other notable features of the personal loan, a borrower can also avail of a debit and credit card with no annual fees and at low-interest rates that can be personalised with a personal loan with AED 17000 salary from RAKBANK. Moreover, the phone banking services, the low-interest rate, and the life insurance (available at nominal rates) make the personal loan by RAKBANK an excellent choice in the UAE.

Click here to Apply for this Personal Loan

7. Mashreq Bank Personal Loan

Getting a personal loan in UAE with AED 17000 salary can often prove difficult for numerous ex-pats. However, this is resolved by the Mashreq Bank, which provides different types of personal loans for all UAE nationals as well as expatriates. So whether you need to plan your next holiday, pay for overseas education, or renovate your home, you can avail of Mashreq Bank personal loans to fulfil all personal requirements. 

Minimum Monthly Salary Required: AED 7,000

Key Features and Benefits of Mashreq Bank Personal Loan

• Users can avail of a high loan amount that can go up to 20 times the income
• Convenient loan repayment tenure of up to 48 months.
• Competitive interest rates starting from 3.43% 
• No guarantor or collateral required
• Option to top up the Mashreq Bank personal loan 
• Round-the-clock phone banking services
• Access to credit cards and a revolving overdraft

Why Choose Mashreq Bank Personal Loan?

Mashreq bank offers personal loans in UAE with 17000 salary that have numerous benefits like top-up facility, simple documentation, quick processing, access to the credit facility, convenient repayment period, and a high loan amount. These features, combined with a convenient repayment tenure, ensure that you can utilise the loan for your requirements and repay it easily. 

Click here to Apply for this Personal Loan

8. Emirates NBD Personal Loan

Emirates NBD is another bank providing a personal loan in UAE with 17000 salary requirements to ensure easy access to financial support for UAE residents. These loans are designed at attractive interest rates and come with benefits like flexible repayment date (based on when you receive your salary), high loan amount, hassle-free documentation, free deem credit life, and quick application approval (usually within 48 hours). 

Minimum Monthly Salary Required: AED 10,000

Key Features and Benefits of Emirates NBD Bank Personal Loan

• Attractive interest rates starting from a 2.72% flat rate and a 5.24% reducing rate
• Free deem credit life plus offered, which is an embedded program that benefits customers in case of death and permanent total disability 
• Loan application approval within 48 hours
• Easy repayment due to flexible repayment tenures of up to 48 months
• Option to choose the repayment date based on the date of receiving salary each month

Why Opt for Emirates NBD Personal Loan?

Emirates NBD personal loan in UAE with AED 17000 salary is an excellent option for UAE residents wishing to meet their urgent fund requirements without much hassle. Moreover, one can also go with this personal loan owing to its excellent customer service that proves helpful in case you have any difficulty once the repayment of the loan is initiated.

Click here to Apply for this Personal Loan

Eligibility Criteria for Personal Loan in UAE 17000 Salary

Other than the crucial aspects of minimum income requirement (different for each bank), here are the general eligibility criteria for personal loans in UAE with 17000 salary: 

• The applicant must be at least 21 years old 
• The applicant must be a government or semi-government employee or employed in a reputable private organisation 
• A good credit Score is required on the applicant’s part 
• Some banks specify the minimum period of employment to qualify for the eligibility criteria
• Salary transfer account is a mandatory parameter defined by some lenders

Documents Required for Personal Loan in UAE 17000 Salary

An applicant must be ready with the following general documents to get a personal loan in UAE with 17000 salary:

• Filled out application form
• Copy of Emirates ID, passport, and resident visa (ex-pats only) 
• Bank account statement of three months
• Salaried employees must submit a salary certificate letter to the lending institution
• Trade licence for self-employed individuals 

Key Takeaways

As a UAE resident, national, or expatriate, you can find numerous options for getting a personal loan in UAE with 17000 salary. As discussed in the article above, several leading banks and financial institutions provide loans that require a minimum monthly salary of less than AED 17,000. Availing of such loan plans is fairly easy, as you would need to qualify the eligibility criteria defined by the financial institution and follow all the instructions of the loan provider to complete the application process easily.

You can visit Policybazaar UAE and head to the ‘Personal Loans in UAE’ section on policybazaar.ae. On our website, you can find the top personal loan plans that would be relevant for you and can be obtained at the best rates in the country.

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