Approved Company? AECB Score? The hidden Rules for Expat Loans in FAB, ADCB, and Mashreq

DUBAI – It was supposed to be a game-changer. When the Central Bank of the UAE removed the mandatory AED 5,000 minimum salary cap for personal loans, many low-income residents breathed a sigh of relief.

However, the reality on the ground is different.

Despite the regulatory green light, major UAE banks are holding firm. For many expats, the door to finance remains closed unless they hit that magic number-or higher.

If you are looking for extra cash to fund your rent, education, or emergencies, here is the definitive guide to who is lending, who is strict, and the "hidden" criteria you need to know.

The "Risk" Factor

Why haven't banks lowered the bar? According to AbdulAziz Abdullah Al-Ghurair, chairman of the UAE Banks Federation, it comes down to risk. Banks are hesitant to lend to very low-income categories to ensure loans can actually be repaid.

This means that while the law allows it, company policy might not.

Bank-by-Bank Breakdown: Where Can You Go?

Here is the latest snapshot of what major banks are offering to Expats right now:

1. Mashreq Bank: The "Approved Company" Rule

Salary Requirement: Dh5,000 (if your company is on their approved list).

The Catch: If your company is unapproved, you need a salary of Dh10,000.

Loan Amount: Up to Dh2 million (20x salary).

Perk: First EMI deferral up to 90 days (Great for settling in).

2. RAKBANK: The Credit Score Stickler

Salary Requirement: Dh5,000.

The Catch: You must have a minimum AECB Credit Score of 541.

Interest: Starts from 5.49%.

Tenure: Standard 48 months for expats.

3. First Abu Dhabi Bank (FAB): The Premium Choice

Salary Requirement: Dh7,000 (Higher than average).

Eligibility: Must be employed by a government, semi-gov, or "reputable" private firm.

Loan Amount: Up to Dh2 million for expats.

4. ADCB (Abu Dhabi Commercial Bank)

Interest: Starting from 6.49% for expats.

Perk: Offers loans up to 2x salary overdraft with flexible eligibility.

Fees: Processing fee is 1.05% of the loan amount.

5. Emirates NBD

Loan Amount: Up to Dh3 million for expatriates.

Key Feature: Known for competitive interest rates for long-standing customers.

6. Dubai Islamic Bank (DIB) & ADIB

DIB: Offers high Takaful coverage (up to Dh100k) and instalment deferment options.

ADIB: Allows up to Dh2 million financing for expats and offers 2 instalment postponements per year without fees (A lifesaver during vacation months).

What You Need Before Applying

Before you walk into a branch, ensure you have:

Salary Transfer Letter: Most banks require your salary to be credited to them.

Confirmed Employment: Usually 6 months of service is required.

End of Service Assignment: Banks will lock your gratuity as security.

Disclaimer: Terms and interest rates are subject to change by the banks. Always check the official website for the latest calculator.