Navigating the loan landscape in the UAE as a foreigner might feel like exploring uncharted territory.

But don’t worry, we’re here to be your trusty guide, helping you make sense of it all, from the decision-making process to the variety of loan types available.

Before you dive in, remember this: understanding your repayment capacity and interest rates is just as important as picking out your dream house or car.

Now, let’s get cracking!

Can Foreigners get a loan in UAE

Yes, they can. Banks in the UAE allow foreigners and other expats to get loans with some documents so that they can get their desired property. However, these loans are often very flexible and allow for high loan amounts since property in the UAE is not cheap. 

There are some criteria for you to fit in if you want to get a mortgage.

You must have a valid passport and bank statements from the past six months. Along with this, you might be asked to produce Tax Returns and salary certificates as well.

Also, details of any existing loan and relationships with any banks would also need to be declared before securing a loan. These documents and proofs might vary with every bank; hence make sure to obtain a complete checklist from the bank before securing your documents. 

Types of Loans in the UAE

There are two types of banks in the UAE, Conventional and Islamic Banks.

Conventional banks offer loans through standard procedures and contracts you might have already seen.

However, Islamic Banks in the UAE offer loans which are based on the Islamic Sharia Law.

These Conventional loans are given after an interest rate is determined based on the amount and the time of return. 

Islamic banks offer loans differently; these banks do not charge interest from you on the amount but rather a profit. This means that these banks are based on Islamic Law and hence are preferred by the Emiratis. 

There are two other sub-types of loans, secured and unsecured loans. Secured loans mean that the lender will be given an asset.

This asset will be known as the collateral. If the person who borrowed the loan, cannot not or will not pay it back for any reason within the due time, then in most cases, the lender (often a bank) would liquidate the collateral asset, keep the money from the sale, and cover the loan amount.

Some of the secured loans offered in the UAE are car loans, mortgage loans, Loans against investments, Loans against rental income, and many more. 

Unsecured loans are loans in which the lender does not take any collateral asset from the person they are giving a loan to, and all the process is done based on the person’s word and good faith.

Some of the best examples of unsecured loans in the UAE are Credit Card loans, Personal loans, and Business Cash loans. 

How to get a loan in UAE

Getting a loan is very easy in the UAE, regardless of your resident status. You can apply to various banks both online and by visiting their offices. We will list down some of the requirements for some basic types of loans in the UAE. 

Essentially, all you need are your documents and other certificates, which are a staple in these transactions.

After you have secured these documents, you should visit your bank.

At this point, it should be clear to you if you are going for an Islamic bank with zero interest schemes or a conventional bank which will charge you anywhere from 1 to 4 % interest on the amount.

There are pros and cons to different types of banks. Hence make sure you read the terms and conditions thoroughly. 

There are essentially two or three main types of loans in the UAE.

You can get a car loan, a personal loan, or a mortgage for your property. The documents you need to get these loans are more or less similar. Make sure you have your:

  • Nonresident ID
  • Letter of employment
  • Tax certificates 
  • Bank account
  • Driving license 

After you have submitted your request with your banking officer along with these documents and provided that your application is approved, you should get your loan approved and transferred in a couple of working days. 

Some of the best banks to get a loan from in the UAE are Emirates NBD, which offers an upper limit of AED 4 million when financing.

However, those applying to this bank should have a salary of AED 10,000.

There are other banks like Mashreq, which is known to provide the best car loans; hence make sure to check their website out.

This bank provides quick loans with a tenure of around 48 months; moreover, the maximum finance amount is capped at AED 150,000.

However, the interest rates are pretty high in this bank.

Dubai Islamic Bank and Emirates Islamic banks are two other good options when you are looking for a reputable bank with flexible contracts for loans in the UAE. 

Tips for getting a good loan in the UAE

There are some of the things you can do if you want to get accepted for the loan you want. 

Employment History 

Employment history is significant when it comes to securing loans anywhere in the world and not just in the UAE. It would help to make sure that you do not constantly change jobs.

Employees who are fired from multiple jobs would not give the bank much confidence in your ability to pay back the loan, and there are high chances your application would be rejected. 

Maintain a good credit score 

A good credit score is what shows the bank that you are careful and sensible with your money. Therefore, make sure to look at your credit score when you fill in your loan application. 


Make sure that all of your payments are on time and not late since this might be a red flag when it comes to the bank, they will evaluate your payments and look at patterns before giving you that loan. 


Installments should be paid on time as well since this will surely leave a good impression on you with the bank and will go a long way toward accepting your loan request. 

Clear your dues

Applying for a loan in a bank while paying back another loan will not leave a good impression on you.

So, clear all your outstanding dues and loans before asking the bank for a loan.

Even if you requested a loan from an international bank, let your current bank know this as it will help to build confidence and trustworthiness. Both of these things are crucial in getting your loan request accepted. 


Securing a loan in the UAE, even as a foreigner, is more straightforward than you might think. The key lies in having your financial affairs in order and selecting the right bank and loan type that matches your needs.

One word of caution: the interest rates here can be higher than you’re used to, so plan your loan contract with a keen eye.

Best of luck in securing your loan!