What is a Personal Loan and What is Eligibility for Personal loan in Dubai (UAE).
Personal Loan , basic banking product of financial organisation all over the world and in GCC as well.Living in UAE as expat and earning a fixed income every month is the obvious situation with everyone in here,people are having different sort of unavoidable circumstances and verity of different needs that requires some extra cash amount.
Banks and financial institutes like similar in rest of the planet have this Loan facilities to full fill individual needs,requirements and expectations of cash money.Loan in UAE is available from various Bank in UAE each has certain lending criteria and formalities that if suits and matches with the clients profile and requirements.
Although the requirements and minimal criteria of banks of dubai and other emirates is escalated and large amount of people applying for loans are not entitled or being rejected from well known banks,whereas finance companies in UAE has better ratio of approval of loan applications as compared to any of the banks in UAE.
The clients of banks and other financial companies are have a large difference in their target customers and their mainstream clients because of their respective customer criteria ,this could be one of many reason that they service despite their comparatively small existence in UAE.
Less earning customers always curious to know about the minimum criteria for applying loan in UAE, despite their low wages and less tenure(which is a big concern of banks)they get their loan application approved with their desired applied amount,