Either you need a loan for Financial emergencies such as car repair, Job loss, illness a funeral or you just feel like going on a vacation, giving a surprise to a loved one or you want to make a perfect deal for a phone you have been looking for, an instant loan would be the perfect choice in such circumstances.No matter what the case may be, instant cash always comes in handy. However, finding the right source and for loan, the source can be a stressful and daunting task especially in a place like Dubai. It’s usually difficult to get an instant cash loan from banks within a short period of 24-48 hours. This is because banks often need several weeks to process the loan. In such a situation, most people are forced to go to a local money lender or pawnbroker, or money lender who will loan out money at extremely high-interest rates of 3-4% per month. Not to mention having to provide collateral in the form of gold jewellery which can be quite humiliating.
However, looking for a loan in the right place in Dubai will not cost you so much time or energy. Whether you are a UAE national or an expatriate, you can get an urgent cash loan In Dubia in fewer steps and time.
Table of Contents
Before you apply for an Urgent Cash Loan in Dubai there are some criteria that have to be met starting with :
- Age limit: you should be 21 years old or above. However, It differs from bank to another.
- Employment : the applicant must own a job in a well reputed firm. If you are unemployed there are some banks that offer loans for unemployed people.
- Loan Amount : In the dubia loans offered are up to AED 5 million depending upon the eligibility and financial requirements of the borrower. The loans amount diffre from one bank to another in Dubia.
- Minimum Income: the minimum income criterion is crsusial when loaning. Some banks pay a special car to the minimum income of individuals. Mostly the applicant income has to be up to AED 25,000. On the other hand there are some banks that approve the loan application for individuals with a minimum salary of AED 5000.
Banks and Financial Lenders Offering Urgent Cash Loan in Dubai
Each individual can get a loan through the following three sources : from a bank, a private lender or a broker. Here is a well selected list of loan pproviders in Dubia.
- Dubai Islamic Bank
- United Arab Bank
- FIM Bank P.L.C
- Doha Bank
- DBS Bank
- Commercial Bank of Dubai
- Emirates National Bank of Dubai
- Abu Dhabi Commercial Bank (ADCB)
What are the document needed for getting a loan in Dubia :
- Emirates ID (for UAE nationals) – Original and a Copy
- A valid passport (for expats) – Original and a Copy
- A valid residency visa (for expats) – Original and a Copy
- Salary Certificate/Appointment Letter for employment verification of salaried applicants
- Bank statements (of the last three months) for income verification of self-employed applicants
- Salary Transfer Letter/Salary Slips (of the last three months) for income verification of salaried applicants.
After you have explored your options taking into consideration reasonable interest rates and whether or not the loan options fit your financial requirement, the eligibility criteria of cash loans, and get the required documents. You can go ahead and apply for a cash loan from your chosen bank, fill out the application form and submit the same with all the required documents. No, wait for the approval that will be approved in a very short span of time. Of course, if all your documents are in place and the bank finds you eligible for the loan.
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