# Personal Loan - Unlisted Company



## thenewguyindubai (Jan 2, 2017)

Hi,
I have noticed that it's not easy to get a personal Loan in the UAE if the (Freezone) Company you work for is Non Listed with the Banks.

Do you know of any financial institution that gives out a loan to non listed company employees, with 55k monthly salary and no other loans taken?

I have found the comparing sites online to provide outdated/wrong information. Most of the banks listed there dont really provide a loan to a non listed employee.


thanks


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## Stevesolar (Dec 21, 2012)

Hi,
How long have you been with the company?
Will your company provide a salary certificate that states you have completed your probation period and that you are a confirmed employee?
The above is normally sufficient for banks like UNB or Emirates NBD to give a loan.
The bank may also insist that your salary is paid into a current account with that bank and that your company sends them a letter that confirms it will not pay into a different account - without informing them.
The loan interest rate is normally a bit higher for employees of unlisted companies.
Cheers
Steve


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## thenewguyindubai (Jan 2, 2017)

Hi Steve,

its 2 years now and salary certificate plus 3-4 months bank statement are not a problem at all.
However Emirates NDB want you to have a salary account with them 6 months before they give you a loan. Will try UNB now.


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## Racing_Goats (Sep 5, 2015)

If you need a loan with 55k salary I assume the amount you want is pretty significant, would expect banks to be wary of lending bigger sums of money when there's no existing relationship or other connection.


Sent from my iPhone using Tapatalk


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## The Rascal (Aug 6, 2014)

RAK bank are pretty good, they lend to the person at that level.


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## ThunderCat (Oct 28, 2015)

FGB is known for giving high risk loans, but they charge somewhere above 20% in interest, and you won't need to transfer the salary. There is also the infamous Dunia with their very high interest rates as well.

If you want a decent interest rate (Less than 3.5% flat) you would need to definitely transfer the salary to the bank.


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