Personal financing can help you cover an important expense without draining your savings: school or university fees, furnishing or renovating your home, a wedding, medical costs or consolidating smaller debts. The challenge is finding the right offer among many banks, each with its own rates, fees and conditions. We do that comparison for you and present your application where it fits best.
What you can expect
- Amount: from AED 10,000 to AED 500,000, subject to bank limits and your income.
- Maximum size: Central Bank rules cap personal loans at 20 times your monthly salary or income.
- Tenor: up to 48 months.
- Affordability: your total monthly debt repayments, including the new financing, cannot exceed 50% of your income.
- Options: conventional loans or Islamic personal finance, with or without salary transfer depending on the bank.
What banks look at
Each bank has its own criteria, which may be stricter than the Central Bank limits. In general, banks consider:
- Your salary or income, and whether your employer is on the bank's approved list.
- Your length of service and residence status in the UAE.
- Your credit report and score from Al Etihad Credit Bureau.
- Your existing loans and credit cards, which reduce the amount you can borrow.
Documents usually requested
- Passport, residence visa and Emirates ID.
- A recent salary certificate, or proof of income for the self-employed.
- Bank statements for the last 3 to 6 months.
- The completed application form.
Salary transfer or not?
Many banks offer better rates when your salary is transferred to them, but this ties your monthly income to that bank for the life of the financing. Non-salary-transfer options give more flexibility, often at a higher cost. We show you both side by side so the decision is yours.
Tips before you apply
- Check your credit report first, so there are no surprises.
- Compare the total cost of the financing, not just the monthly instalment.
- Avoid applying to many banks at once, because each enquiry is recorded in your credit file.
Who is it for
- UAE nationals and residents working in the government or private sector.
- Professionals and business owners with a documented, regular income.
- Clients who want to compare several banks quickly instead of applying one by one.
How it works with Lugain Global
- Request: you tell us the amount you need and the purpose.
- Eligibility review: we check your income, commitments and credit record against bank criteria.
- Comparison: we compare the rate, fees, insurance and total cost of each offer.
- Application: we prepare your file and submit it to the bank you choose.
- Follow-up: we stay in touch with the bank until the funds reach your account.
Important to know
The amount you receive depends on your income and the bank's assessment, and may be lower than the maximums shown here. Lugain Global is a financing broker, not a lender, and approval is always at the bank's discretion. Borrow only what you can comfortably repay.