UAB Personal Loan

UAB personal loans are exceptionally designed for both UAE national and expats. UAB personal loan in UAE guarantees immediate funding for those who are eligible. United Arab Bank (UAB), formed in 1975, operates out of numerous branches in the UAE and offers astute commercial banking solutions. The loan application process is quite simple and quick, which makes taking loan in the UAE an easy victory. This bank offers up to AED 2 Million loan amount on reducing interest rate starting at 5.25% with repayment periods of up to 48 months for UAE Nationals and Expats. 

UAB Personal Loan Interest Rates

The UAB personal loan interest rates are one of the lowest in the market and are charged on the reducing balance amount. Details of the UAB personal loans interest rate in UAE are as follows: 

Consider the following table for the applicable FAB personal loan interest rates for UAE nationals and for expats:

United Arab Bank Personal Loan
Category	Max. Loan Amount	Tenor	UAB Personal Loan Interest Rate	Type of Interest
UAB Personal Loan For UAE Nationals	AED 2 Million	Up to 48 months	From 5.25% per annum	Reducing
UAB Personal Loan For Expats	AED 2 Million	Up to 48 months	From 5.25% per annum	Reducing

 *Disclaimer: Interest Rates are subject to change at any time.

 UAB Personal Loan Features & Benefits

Category	UAB personal loan (UAE nationals)	UAB personal loan  (For Expatriates )
Salary Transfer	Yes	Yes
Early Settlement	Yes, 1% of the settlement amount	Yes, 1% of the settlement amount
Cashback	No	No
Free credit card	Yes	Yes
Free Personalized Cheque Book	Yes	Yes
Free Insurance	No	No
Introductory Offers	No	No
Phone Banking	Yes	Yes

 Listed below are some of the best UAB personal loan features and benefits currently offered.

 Loan Amount

The United Arab Bank personal loan is offered in two categories. Both UAE nationals and expats may apply for a UAB personal loan of up to AED 2 million. Emiratis are offered personal loans for up to 20 times their salary.

Tenor

UAB personal loans offer repayment periods of up to 48 months and a revolving credit facility, which allows the loan holder to repay their outstanding loan amount in any number installments within the stipulated tenor.

Easy Apply

It is extremely easy to apply for a UAB loan via the online form. The process requires very little documentation and boasts of minimal time for approval as well.

Deferment

The United Arab Bank personal loan deferment option lets customers delay payment for an installment. This can be availed for a fixed number of times every year as set by UAB.

Top-Up Loans 

A top-up United Arab Bank allows loan holders to avail of additional financial support during their running loan. Top-up loans are usually offered to customers that have met a certain number of payments for their active personal loan.

Debt Consolidation

UAB allows loan holders to accumulate all their existing loans into the UAB personal loan in UAE.  It is easier for customers to manage and repay one loan rather than juggling multiple installments every month.

Benefits

Applicants that successfully apply for a UAB personal loan are rewarded with a free credit card for the first year. The UAB credit card offers an additional line of credit, which loan holders may utilize as short term capital. 

UAB Personal Loan Eligibility Criteria

Applicants can apply for a United Arab Bank personal loan if they fulfill following criteria: 

Employment

Applicants must have employment at an organization that is on the United Arab Bank loan list of approved companies.

Income

The minimum salary requirement for UAB personal loan should be AED 7,500 monthly. 

Salary Transfer

A UAB personal loan can only be availed of with salary transfers. Loan holders will be provided with a UAB account, in which the employee’s monthly salary amount is transferred. Salary transfers need to be approved by the employer. 

UAB Personal Loan Document Requirements

Applicants may apply for a United Arab Bank personal loan through an online form, and with the following documents: 

1. ID Proof - Emirates ID, Passport and UAE Residence Visa (for Expats).
2. Bank Statement - Latest 3 months or 6 months as
3. Salary Transfer

FAQs - UAB Personal Loan

Q.1.    Is the loan available for new UAE residents? 

Ans: UAB personal loans can be availed of by new UAE residents. UAB will require confirmation of employment from the applicant’s employer and a salary transfer certificate as well.

Q.2.    Are there any security deposits required? 

Ans: The UAB personal loan does not require any form of security deposit or collateral 

Q.3.    What type of account does the United Arab Bank personal loan offer? 

Ans: Loan holders receive a free current account with their UAB loan. Applicants will be required to transfer their salary into this account.

Q.4. Is there a restriction on the smallest United Arab Bank personal loan size?

Ans: Yes, the loans amount start from as little as AED 15,000.