Money is the biggest and the most required aspect of human life. However, there are times when you may not have enough money and need the help from money lenders to meet your requirements. You can opt for a personal loan in UAE and take care of your requirements and return the amount at a regular interval.
What Does Personal Loan Mean?
A personal loan can be provided and processed instantly as compared to another kind of loans, it is given to a person based on its repayment eligibility and also its account statement. A personal loan is an unsecured loan then repayment of this loan is in the form of EMI (Equated Monthly Instalment).
So, personal loan by the name its meaning is clear that you can use this loan for your personal need, the bank is never going to ask that for what purpose you are taking a loan.
There Are Many Reasons to Take Personal Loan, Some of Them Are:
• For Vacation Expenses
• For Paying Educational fees
• For Marriage Expenses
• Annual Rent of any property
• Home Renovation
A personal loan helps you instantly, reduce your stress and provide you quick relief. We all have the requirement of personal loans in our life for various reasons.
Nowadays due to the rise in the standard of living and people willing to purchase and spend, with expenses increasing, Dubai has become a place of several international and local banks to cater to people living there.
So, a personal loan has become more popular in Dubai due to its unique feature to provide short-term credit, make sure you only take a personal loan is you can repay it on time.
Eligibility Condition for taking a Personal Loan
You can apply for a personal loan only if you fulfill the following terms and condition:
• You must be a UAE national or resident of the UAE.
• You must be in the age group of 21 to 65 years.
• You must have month earning of at least AED 7,500.
• Having a current account is also a must.
Document Required for Personal Loan
• UAE National ID Card or a valid Passport
• Salary transfer is needed if the bank asks for a salary transfer or a letter.
• Letter of liability.
• Past 6-month bank statement.
Within the banking sector, there is also huge compaction and every second bank is willing to provide several financial products. However, you need to ensure that you go to a reliable institution such as MoneyDila to avail of your personal loan in Dubai.
2509, Burlington Tower, Al Abraj Street, Opposite Oberoi Hotel, Business Bay
Post Box number - 28173,
Dubai, United Arab Emirates
Contact : +971-4 332 0030
Email: [email protected]