Personal Loans in Abu Dhabi
Understanding personal loans
Before we decide to seek a personal loan from a financial institution in Abu Dhabi, it is necessary for us to understand what personal loans are. A personal loan a.k.a. unsecured personal loan is a facility extended by banks/other lenders to enable you to meet pressing financial demands. These may range from personal goals and dreams to critical emergencies in life such as sickness or some unique investment opportunities among other needs that are beyond one’s financial capabilities at that point in time.
Personal loans in Abu Dhabi
Having access to personal loans in Abu Dhabi is a hassle-free procedure because we live in different times where things that used to be a preserve of a few are now a common day to day experience. Processes that used to take months are now being executed instantly, thanks to advancement in technology.
Just like in other major cities in the United Arab Emirates, Abu Dhabi personal loans are available to all qualified borrowers within a few days, with a slight variation based on individual banks and lenders. Repayment periods also vary from bank to bank, though most of them will cap it at 48 months.
Eligibility and qualifications for personal finance
- As a global standard practice, all borrowers need to be qualified in order to access personal loans in Abu Dhabi. Below is a list of who qualifies:
- All borrowers with a clean credit history
- All borrowers with the capacity to repay regardless of whether they are employees or self-employed
- All borrowers from any country but limited to those with a valid Abu Dhabi residence permit
- Employees on government pay roll or those of firms approved by the lending bank
- The applicants (if employed) should have been in their current employment for at least 6 months
- The applying employees should have a working contract that will outlast the repayment period of the loan
Requirements for Personal loans in Abu Dhabi
- To access personal loans in Abu Dhabi, one needs to meet the following simple and standard requirements:
- Proof of identity: a national ID card for locals and a resident visa for foreigners
- Proof of income: for both employees and self-employed
Even if you have been living in Abu Dhabi for a long time, you would feel helpless when it comes to deciding on the best financial institution to approach for a personal loan. Assessing the different terms and conditions put forth by the lenders would take you all the time in the world to come to a valid conclusion about the best personal loan in Abu Dhabi.
On the other hand, if you approach MoneyGulf with your plan to seek a personal loan, all you need to do is to give your details so that we could check if you qualify for a loan. You could then sit back and relax while we do a thorough evaluation and come back to you with the relevant details and let you make the final decision of seeking the most advantageous personal loan in Abu Dhabi.