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Did you know that it is not mandatory to transfer your salary in the UAE to be approved for a personal loan. This article explains how.

Do I have to transfer my salary for a Personal Loan?

A common question we are often asked at is, “do I have to transfer my salary to be approved for a personal loan”?

Every bank in the UAE who lends money wants to minimise their risk.

It is a common requirement that for a loan to be approved the applicant must transfer their salary to the lending bank.

The good news is that not all UAE lenders request a salary transfer.

Within this article we look at why banks usually request a salary transfer and the advantages it can offer you as the borrower, we also review a number of the best personal loans on offer if you decide not to to transfer your salary.

Why does a bank ask for a salary transfer?

Lenders view customers who transfer their monthly salary as a reduced risk, this is because it creates a closer banking relationship between the borrower and the lender.

Girl thinking about a personal loan

With a salary transfer the bank has greater visibility of an individual’s income and outgoings. They have a greater control of stopping any end of service employment payments should the borrower lose their job.  If the loan has not been cleared or the borrower has defaulted on repayments the bank has protection to collect their owed funds.

A salary transfer can also work to the advantage of the borrower, with this increased assurance the lending bank tends to offer preferred rates and additional benefits to customers. 

In many cases and perhaps why no salary transfer is such a popular question, UAE banks will deny an application if an applicant is not prepared to transfer their monthly salary.

What options do you have if you do not want to transfer your salary?

Always start by applying to the bank with which you currently use, as there is already an existing relationship and this gives you a greater chance of loan approval.

In most cases many of us do not want the upheaval or hassle of changing bank, especially if we trust our current provider.  Unless your bank is really not able to provide a suitable product it may be worth staying put. 

If you decide to look for a loan elsewhere but do not want to leave your current bank you can apply for a no salary transfer loan. You need to beware that you will pay a higher rate of interest with any UAE lender for a no salary transfer loan. 

You are able to compare all personal loans that do not require a salary transfer on We have even saved you time and picked out our recommendations of the three best no salary transfer loans available.

Citibank Personal Installment Loan

Citibank offer a wider range of loans however their Personal Installment Loandoes not require a salary transfer.  You will need a minimum monthly salary of AED 8,000, you can potentially borrow up to AED 175,000 over a four year period. A focus point on this loan is Citibank’s fast approvals process.

ADCB Smart Loan

The ADCB Smart loan is one of the most popular no salary transfer loans viewed within You may apply for this loan with a minimum salary of AED 5,000 and borrow up to AED 150,000 over four years. You will earn ADCB touch points when you take out this loan.

ADIB Al Khair Personal Finance

ADIB are one of the few Islamic providers who offer no salary transfer finance. Their Al Khair finance allows you to finance up to AED 250,000 across four years. This finance also has no upfront processing fee.

The last thing to remember…

Unless there is a financial reason as to why you do not want to transfer your salary, consider doing it, you will save money on the interest of your loan and have a higher chance of loan approval.

All of the banks mentioned above do provide a number of personal loans at cheaper rates if you transfer your salary. For more information about applying for a personal loan in the UAE read our article choosing the right personal loan in the UAE

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