Quick Cash Loan in UAE

Quick Cash Loan in UAE

All of us are always in a desperate need of cash. No matter how much amount we have in our bank account, without any cash in our hand we will always be considered poor. Banks in UAE have made it very easy for us, to avail a cash loan from them, as and when we require. Banks have also made the process of applying for loans exceptionally easy for their customers. Friendly norms of various banking institutes and advancement of technology have helped banks to raise their standards, and provide easy cash loans to their customers.

Rising popularity of Cash Loans

Cash loans have seen a rising popularity in UAE and the countries in Middle East, for both expatriates and nationals. Minimum requirements for cash loans is less compared to personal loans that we take from the bank.

Types of Cash Loans

Payday Loan: One type of cash loan that you can avail is a Payday loan. Payday loans are known as ‘dangerous emergency cash loans’, which can be availed upon the degree of emergency that you are facing. They can be availed when you don’t meet the requirement of minimum credit or income to avail a loan. Payday loans are generally considered to be the last resort when you are in an emergency. Payday loans are generally considered to be a bit expensive than any other loan you can take and can cost you a lot of APRs.

Title Loan: There is another type of cash loan called a Title loan, which is also considered to be another type of emergency cash loan. In this type of a loan, you can get cash but by risking important assets that you own.

How Quick Cash Loan works?

Quick Cash Loan is provided by the bank when you need funds the more urgent. A simple application process where there is a good technology quick approvals and easy disbursement. 

The following is the process of getting quick cash into your account.

• Application - You can apply for a quick cash loan through the bank app or by visiting the branch. Your application will be reviewed by the team along with the salary certificate, emirates id and other documents. 
• Checking the Eligibility - In the verification process your background check such as checking employment status, residence verification, credit score, salary income and other details will be checked to qualify for the eligibility.
• Cash Loan Offer - Once you are qualified and verified, the team will provide you with a loan offer with the details of repayment structure and associated fees. You can review and accept the offer.
• Funds disbursed - Funds will be available in your account in 24 hours after you accept the offer. 
• Repayment - The repayment of loan may be monthly or weekly. Repayment can be done through online payment, cheque deposit, auto pay and other options as provided by  the lender.

How to select the right Quick Cash Loan offer?

Every one has different financial requirements and urgency, some banks have higher interest rates and some banks offer higher loan amounts. Based on your requirements you can select the right type of loan that you want. 

• Check for Loan interest rates - Selecting the best interest rate which is competitive is good to match with your financial need. 
• Check for quick disbursement - Fast approval, less paper work, reduced interest rates should  be the points to look out for.
• Check for repayment ways - Look out for length of grace period to make payment, early repayment benefits, penalty less payment and check other requirements. 
• Easy to apply - Check if you have access to funds 24/7, any money available in your account is a good idea for cash liquidity. 

Different banks that provide Quick Cash Loans

Emirates NBD Short Term Cash Loan

• A minimum salary of AED 5000 is required
• It comes with a reducing rate of 4.99% and flat rate of 2.3% 
• Maximum tenure provided is 24 months
• Regular payments are mandatory
• This loan covers all the shortfalls like credit card debt, rent, school fees and medical charges

HSBC 12 Month Personal Loan

• Loan applicants earning more than AED 10000 are eligible
• UAE Residents 21-65 years
• Should have a current account with HSBC
• Salary transfer is required
• The rates on this loan depend upon the applicant's profile
• Loan tenure provided is 12 - 48 months
• Quick approval 

FAB Quick Cash from Credit Card

• Can get instant cash
• Can transfer cash to your bank account
• Up to 90% of the credit limit is provided as loan
• Loan is provided on competitive rates

RAKBank Quick Cash Loan

• Get an instant cash loan 
• Maximum loan amount of AED 5,00,000 for UAE Nationals & AED 2,00,000 for Expats
• Monthly Salary should be AED 5,000
• Minimum Al Etihad Credit Bureau (AECB) score of 541
• Maximum tenure of 48 months is provided 
• Only expats salaried customers are eligible 
• Salary transfer is not required 
• Minimum 6 months of length of service is required 

Najm Quick Cash Loan on Credit Card 

• Get up to 80% of the credit limit as cash loan 
• Can easily get loan on phone 
• No documentation 
• Can directly get the cash credited to your account 
• Tenure provided is 3 to 36 months 

Sharjah Islamic Bank - Easy Cash 

• You can get quick Loan
• Pay tuition fee, rent, insurance premium and much more in span of 24 months
• Get AED 1,000 or more fast cash
• Get 80 percent of card limit of loan amount
• Installments payments up to 24 months

Arab Bank - Instant Loan

• Just use Arabi Mobile app and get access to quick loan
• It is provided to salaried customers 
• Should be bank customer at least 6 months
• Loan tenure maximum is up to 48 months
• Loan amount of Maximum up to AED 3,00,000
• Applicants should meet the requirements of Arab Bank credit policy 

CBD Quick Loan

• Get instant loan in minutes
• Emirates ID is only document required
• Non Salary transfer loan up to AED 150,000 
• You can process with Quick loan with CBD App
• No Salary transfer is required
• It is a 100% Digital process
• Repayment period up to 48 months

Citi Ready Credit

• Citi Ready Credit offers highest credit limit 
• You can get up to 6 times of your salary and this is up to AED 175,000 whichever is less
• Once bank provides an approval your bank account will be credited instantly
• Minimum monthly income should be AED 8,000 
• Age limit 21 or more
• If Salary is lesser than AED 8,000 then you are not eligible

NEO Credit by Mashreq

• Get instant loan up to AED 35,000 
• Repayment term range between 2 to 18 months
• Minimum monthly Salary is AED 5,000
• Interest rates range between 19.49% to 29.49%

Mashreq Flash Cash

• Mashreq Flash Cash provides quick loan for medication, tuition fee, travel
• Emirates ID & Salary account is required
• Minimum salary is AED 5,000
• Only UAE residents are allowed
• Age limit is 21 years 
• If you are earning less than AED 5000 you cannot get this loan