How to Get Personal Loan in UAE with AED 2000 Salary | Loan Offers

Getting a personal loan in UAE with AED 2000 salary is quite challenging. Because most banks provide a personal loan with the minimum salary of AED 5000 or higher.

Your salary is AED 2000 per month and it is not going to increase overnight. So, you have to find a way to get a personal loan in UAE with 2000 salary and I am here to guide you on that.

Can I Get a Personal Loan with AED 2000 Salary in UAE?

No, you cannot get a personal loan with AED 2000 salary in UAE because the required minimum salary for a personal loan is AED 3000 in Dubai Islamic Bank and AED 5000 in other banks of the United Arab Emirates.

The banks provide personal loans to Emirati Nationals, GCC Citizens and Expats living in the UAE. But the applicant must meet all required eligibility criteria including minimum salary to get a personal loan. After getting the loan, the applicant needs to pay it in easy monthly installments.

Why Does the Personal Loan is in Demand?

A personal loan is available without any mortgage or collateral. Moreover, the banks in UAE approve personal loans in through a fast-track process. Therefore the personal loan is in demand as it can be the best finance support whenever you need it.

A personal loan is useful to meet your personal expenses such as your marriage, a holiday trip or buying your favorite clothes, jewellery or mobile/TV. But the question is how to get a personal loan with 2000 AED salary in UAE, so let us discuss it thoroughly.

FAB Lifeline Revolving Overdraft

The FAB Lifeline Revolving Overdraft is the best alternative to a personal loan for UAE residents. Although it is an overdraft service and not a personal loan still it is a good option if you are looking for an alternative to the personal loan.

People with a low salary cannot get a personal loan as they do not meet the minimum salary threshold required to apply for a personal loan in UAE. But such people can get the FAB Lifeline Overdraft even if their salary is AED 2000 only.

FAB Lifeline Overdraft Features:

• Overdraft available for all FAB Salary Account Holders and Current Account Holders.
• Overdraft Limit is up to 2 times of the monthly salary.
• Competitive interest rate.
• Interest is charged on utilized amount only.
• Cash Withdrawal of Overdraft through ATMs.
• Spend Overdraft Funds through the Debit Card.
• Can Issue Cheques Up to Overdraft Limit.
• Maximum Overdraft Limit is AED 50,000/-.

Eligibility Criteria for FAB Lifeline Overdraft:

• Applicant Must be at least 21 year old.
• Must be an Emirati Citizen or UAE Resident.
• Must have a Salary Account with FAB Bank.
• Must have a minimum salary of AED 2000 per month.

FAB Lifeline Overdraft Limit:

Required Documents:

• Duly Filled Application Form
• Salary Certificate or Salary Transfer Letter
• Original Emirates ID
• A Valid Passport Copy
• A Valid UAE Residence Visa Copy

To know more about FAB Lifeline Overdraft Service;

• Visit Your Nearest FAB Bank Branch
• Apply Online for FAB Lifeline Overdraft @www.bankfab.com

When your monthly salary is below 3000, you cannot get a personal loan in UAE. But you can avail the FAB Lifeline Revolving Overdraft Service by using the valuable information that I have shared above.

In case you still want to know about eligibility criteria and minimum salary required for a personal loan in UAE, you can check it right here.

Eligibility Criteria for a Personal Loan in UAE

The applicant…

• Must be at least 21 year old.
• Must not be older than 60/65 years.
• Must be a UAE resident (i.e. Emirati National or UAE Citizen or GCC Citizen or Expatriate.
• Must be earning a salary as required by the bank.
• Must be working with the current employer for longer than six months.
• Must have a High Credit Score.
• Must have a positive credit history/record.

Bank Wise Minimum Salary for Personal Loan in UAE

Conclusion:

Getting a personal loan helps you meet your urgent finance needs. If you have a salary of 2000 AED, you cannot get a personal loan. However, the FAB bank offers an overdraft facility for its customers with minimum salary of AED 2000.

You can get advantage of FAB Lifeline Overdraft Facility of up to 2 times of monthly salary, maximum limit is AED 50,000. You can visit your nearest FAB bank branch to apply for the Lifeline OD Service.

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