People always choose personal loans to solve their financial issues. It is not a bad idea especially when you need a loan in an emergency situation. To consider people’s financial life, many banks and even now finance companies provide the best services for giving personal loans. Here, we will tell you about the amazing Finance companies in UAE for personal loan.
The purpose of providing information about these companies is that everyone can get a loan through excellent professional companies. You will know all the basic details of this loan type.
We have researched a lot and then finalize these finance companies in UAE for personal loans from the financial industry. When you will read the whole article, you will easily do comparison which one is a great finance company in UAE for personal loans for your financial needs. Take proper time in choosing a company because it will affect your finance also. Only select the loan amount according to your need, never exceed the amount if you do not need it. It will help in managing your financial status.
In the financial market, many companies are offering loan services of different kinds. One of the high-quality companies includes the Emirates Loan. All of their financial products are amazing. If you are staying in UAE and need urgent financial help, then immediately contact this company. Their professionals will make sure to solve your problem without taking much time. They will help as per your demand.
This company’s specialty is that it is working after getting the registration. In contrast to banks, it also considers the application of low age & low income of the applicant. So everyone can do something big in their lives.
Key features
The processing time is faster. It checks and verifies your application with all documents. Even, though all the documentations are easier, they are just basic ones. The repayment plan is also flexible, so you have the full right to choose it. This company also gives you the benefit of instantly getting a loan.
Interest Rate
Its interest rate starts from 2%. This interest ratio is much lower as compared to other banks. In addition, there is the option of both fixed and reducing kind of interest amounts. No other extra charges or initial processing fees will add to your payment.
The aim behind the working of the Financehouse is that every customer has different financial requirements. So, they work to ensure the fulfillment of the customer’s needs. The company made different financial instruments that are suitable for different conditions. No doubt, they gain customer satisfaction because of their continuous regular efforts. There are many benefits to the plans for installment.
Key features
At the time of applying for the loan, the one problem that clients face is to transfer the salary. Some have no problem with it but many do not like this extra step. So, for your convenience, it also does not require this transfer step. Further, there is also no requirement for a bank statement. This finance house provides you the chance to consolidate all your existing loans more easily.
The maximum amount is 320000 AED. The loan term can be short or long. But, the short term is with more interest amount and long term is with lower monthly.
Interest Rate
Basically, it depends on the amount required for the personal loan. For small debts, it starts from 2% monthly but for auto finance, it is a minimum 10%. So, basically, different types of loans are with different interest amounts.
All the residents of the UAE can get a personal loan with a lot of benefits through Deem Finance. This financial company gives preference to clients’ peace of mind. They will never get too tired after applying. Minimal paperwork is the most positive side of Deem. All of its products are widely popular in the UAE. In just two days, it will approve the application.
Key features
“Credit Life Plus” is like the insurance of your life. They will never burden you in case of your total/permanent disability. The repayment amount has a maximum tenure of four years. In all of these years, you can easily manage to repay. Its application submission process is so simpler that you can fill out the form in seconds and submit it online. You will get notice in both cases of approval or rejection. If you do not receive the approval, you can again apply but this time take guidance from their professional also.
Interest Rate
The good point of this financial company is that after repaying every installment the interest rates will reduce. The reducing type of interest starts from 19.99%. However, the fixed rate is around 11.01% per annum. With the help of a calculator, you can calculate the total interest amount till the end of repaying.
Policybazaar is a well-known company of finance. The most amazing fact is that they give equal priority to both residents and ex-pats of the UAE. Many financial companies only allow residents to avail the benefits of loans. But, Policybazaar also offers this opportunity to expatriates. Furthermore, it quickly transfers the amount to its clients’ accounts.
Key features
With many other features, it also provides life insurance on the personal loan. This company gives you little time for the payment of the first installment. There is a zero percent processing fee. So, when you apply for it, you do not need extra money to get the loan. The Policybazaar has both choices of salary transfer and not. Its debt consolidation is a prominent feature. You can decrease the stress of your existing debts by paying off your loan.
Interest Rate
In the flat interest, the interest will remain the same till the end. It will never change. Its range is from 3% to 7%. However, if you want to choose the reduced rate, the interest amount is a little higher. Its range starts from 5.50% to a maximum of 14%. Select an interest rate that will never cause any problems in your future finance budget.
Just like the above company, Mymoneysouq also offers personal loans to ex-pats as well. But, this company never compromises on not submitting the Emirates ID. It is a compulsory document because the company’s basic criteria are to ensure the identity of the person. It is a trusted one; it gives tough completion to other companies. That’s the reason it considers the best finance place to apply for any kind of personal loan.
Key features
The higher amount of debt is about 4500K. It is only possible to apply for good amounts if your salary is more than three to five thousand AED. If your monthly income is higher, you can confidently apply for higher loans. Its repayment duration is four years which is suitable for a person to easily repay with no tension. In general, another amazing feature is a free credit card. Without any extra charges, you can enjoy the benefits of its credit card.
Interest Rate
The loan type is a factor that decides the amount of interest. It is from 2% to 14%. This percentage is not higher than many other online lenders. With this quality, they also offer installment holidays that you can miss one or two repayments.
It is one of the Islamic finance companies that work accordingly to Shariah laws. It prefers to make an agreement that contains all the terms of the loan. So, borrowers will know every aspect and never forget about anything. Without any settlement fee, they start the process. The professionals assist in solving the major financial issues of clients. Relationship managers are best at their job because they communicate so well with their clients. One of Mawarid’s great loans type “Floosi” meets unexpected needs.
Key features
There is no mandatory need to transfer salary. The minimum salary should be one thousand AED. It enhances your chances of being approved for loans. The maximum loan amount is 100000 AED. No need to worry if your salary income is lower. It will give the loan at a lower salary of a person also. On the other hand, self-employed can also apply without much time taking process of applying. After receiving the loan, you will have complete 30 days to submit the first installment. In this way, you can set your finance budget.
Interest Rate
The Mawarid has a flat rate of 8% while the reducing rate is 14%. After the approval and when you will receive the debt amount, the arrangement fee is only 1%. Most probably, you will get an immediate amount after approval.
All the above finance companies in UAE for personal loans are doing their best job. Everyone has their own style to do operating. Some give preference to high debt amounts and some offer a lower interest rate. Moreover, the Emirates Loan offers low-interest rates and also allows the customer to choose the tenure period. Besides, all financial industry ensures that all customers get what they really need. Before selecting one company, check out all the details of their services of them.
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