Personal Loans in Dubai

Clean credit record

During the time I served in Banks in Dubai/UAE as a personal loan and credit card officer, I realised and learnt a lot from existing clients, prospective clients , co-workers, supervisors, management, competitors, and all other stakeholders involved in the UAE banking sector. One of the most interesting, tough frustrating experience, was dealing with the banking regulations and policy.


Policy is basically a set of rules and protocol set by a banks in Dubai , which they follow, adhere to, and use it as a source of guidance when conducting day to day credit analysis, loan acceptance/processing, credit cards disbursements amongst others. I should stress the point that a salesman is always super excited when he has closed a lucrative deal and is on cloud 9,same goes the client, and the sales team including their management. As the bankers in Dubai / UAE experience this glorious moment of an almost sealed deal, there is always one, two, three, ohhhh five issues which emerge before the personal loan is booked or approved.

Policy Violation

These issues may be a direct result of policy violation or a direct violation of Central bank of UAE policy. On the verge of sealing a deal, you find the updated statement coming on the last day, showing up with a DDA return, bounced cheque charges, or DDS return. This is a very frustrating period on the verge of signing up or sealing a credit card or personal loan deal in Dubai/UAE. Bank policy does not permit disbursement of whatsoever product to any client with any string of previous default in the past six months or so, the other scenario is the bank does its duty, approves the client, and when it comes to disbursal, or just before disbursal, a credit check is made with the credit bureau and murphy comes to town, “BLACKLISTED”

Deals in Dubai

This is so disheartening and crashes all hopes of sealing a deal, for there is no deviation that reverses or changes the regulatory rules and regulations at hand which are set by the central bank of UAE. So as prospective clients conduct their day to day business, it is key to maintain the following at all costs before applying for any financial product:

  • 1) Prompt payment of credit card amount due as per agreement
  • 2) Ensuring that the bank account is well balanced at least 3 days before a DDA is effected
  • 3) Ensuring that the bank account is well balanced at least 3 days before a DSR is effected
  • 4) Settling all penalties and charges before they escalate and get out of hand
  • 5) Managing and spending wisely especially when using credit cards
  • 6) Ensure that their salary slips mention all benefits associated
  • 7) Ensure that their salary certificate mention all benefits associated
  • 8) Ensure that their salary certificate is stamped and mentions the employment status, date of joining, benefits if any, such as accommodation, is signed and stamped among other issues
  • 9) Ensure that identification documents are clear and valid among other

For a good credit picture in the eyes of credit analysts, the bank statement should show a healthy and sound position, and the financial behaviour of a client in Dubai may be depicted not only but also by the manner in which they withdraw their salaries, so you find that a client earning AED10000 for instance , and withdraws all of it the next day, paints a picture of a very desperate client, in a hurry to withdraw all the funds and possibly settle liabilities.

As a result, the credit and sales department, upon receiving such are bank statement, is highly likely to be rejected, as compared to a client who gradually withdraws their salary of for instance AED1000 in batches of AED2000 on payday, ADE1000 after the first week and AED300 after the second week, then leaves the balance in his/her account as a saving for the next month.

It is key for clients to follow these simple but crucial steps, if they need the loans to be disbursed with no hassle in Dubai/UAE

Annual Percentage Rate

Implications of non-payment

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Personal Loans

Get a personal loan in UAE.


  • Documents required for loan application

    1-Passport copy

    2-Visa copy

    3-Emirates ID front and back copies

    4-Salary certificate/3 Months Payslips

    5-Three months bank statement/Salary slips/WPS Statement

    6-Credit card copy (face)

    7-Credit card statement

    8-Security Cheque

    Loan amount 10 000-300 000 (AED)

    Salary must be minimum 4000 (AED) +

    Do you have a credit card? If so, what is the limit?

    Do you have a loan from another bank ?

    Do you have benefits at work for example accommodation, insurance, commission, bonus, overtime, transport, air-ticket or uniform?

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  • Documents required for SME Partner-loan application

    1-Passport copy
    2-Visa copy
    3-Emirates ID front and back copies
    4-Six months bank statement
    5-Credit card copy (face)
    6-Credit card statement
    7-Memorandum of Agreement (MOA)
    8-Tenancy Contract
    9-Copies of invoices (optional,increases chance)
    Loan amount 10 000-300 000 (AED)

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