Being from another country you may find it hard to get your head around all the requirements for a loan. To avoid going through the pain of searching through thousands of websites and facing disappointment, here is a clear picture of the loans being offered for expats.
The “Top 10 Personal Loans for Expats in Bahrain” are listed below:
1. State Bank of India (Bahrain)- Personal Loans 
An easy solution to all your needs is being offered by the State Bank of India. SBI personal loans are easy and convenient hence one of the best financing solution.
Eligibility:
- Loans for all Nationalities
- Current confirmed employment contract
- Age Between 21-55 years
- Employed in Bahrain for over 1 Year
- Salaried Individuals only, with a minimum monthly salary of BHD 800/-
Features:
- No Prepayment penalties or charges
- Minimum loan amount- BHD 3000/-
- Maximum time period – 60 months
- Flat rate of 3.7% is charged.
Requirements:
- Passport and CPR with valid resident permit
- CRB Consent Form
- Salary Transfer mandatory
2. Bank of Bahrain and Kuwait- Personal finance 
To make all your wishes come true Bank of Bahrain and Kuwait has brought to you personal finances which are an easy solution to change dreams into reality.
Eligibility:
- Salaried Employees Only
- EMI should not be more than 40% of monthly salary
- Minimum employment period of 3 Years
- Minimum time period – 12 months
- Maximum time period – 60 Months (Special cases 84 Months)
- Minimum monthly salary- BHD 200/-
Features:
- Loan protection insurance
- Competitive Interest Rates
- Easy and simple application process
- Option to defer monthly payment as needed
Requirements:
- Third party Guaranty
3. HSBC Bank – Personal Loan 
HSBC Bank offers you the best competitive loans with low-interest rates, flexible payment options, and preferential banking.
Eligibility:
- Minimum salary of BHD 500/-
- Loans for all Nationalities
- Maximum time period- 7 years.
Features:
- Loan amount up to- BHD 60,000/-
- Minimum paperwork
- Flat rate of 6.6% and reducing rate of 11.99%
4. BiSB (Bahrain Islamic Bank) Tas’heel Personal Finance 
The solution to all your financial needs is here , in the form of Tas’heel personal finances provided by BiSB. This is strictly based on Sharia Islamic principles. One can take this loan for travel, marriage, purchase of non-manufactured items, etc. The financing is conducted through a Murabaha contract.
Eligibility:
- Age between 21 (when taking the loan)-60 (at the time of maturity)
- Minimum monthly income- BHD 500/-
- Minimum work experience of – 1 year
- Maximum time period- 7 years
Features:
- Flat rate of 3% and reducing rate of 5.4%
- Maximum amount of BHD 100,000/-
- Follows Murabaha Contract
Requirements:
- Salary transfer Mandatory
- Indemnity Letter
5. Mashreq – Personal Loans For Expatriates 
Mashreq loans are specially designed for expatriates and provide the choice to use the loan in whichever way it suits them.
Eligibility:
- Minimum salary- BHD 7000/- (approved companies)
- Minimum salary- BHD 10,000/- (unapproved companies)
- Loan amount up to 20 salary multiples.
Features:
- Flexible repayment methods
- Maximum time period 60 months
- Free cheque book and Debit Card
- Simple Documentation
- Loan disbursal within 24 hours
Requirements:
- Valid Emirates ID
6. Arab Bank – Personal Loan 
Arab Bank Personal loans will help you meet your personal needs.
Eligibility:
- Loans for all Nationalities
- Employed in Bahrain for over 1 Year
- Minimum monthly income- BHD 300/-
- Salaried individuals only
- Maximum time period- 7 Years
Features:
- Free credit card of Arab Bank is provided
- Repayment options are flexible
- Maximum loan amount- BHD 40,000/-
- Grace period up to 45 days
Requirements:
- Salary Transfer mandatory
- Recent utility bill like electricity, telephone etc
7. Al- Salam Bank – Personal Loan 
Al-Salam Bank through its subsidiary BMI Bank offers loans to expats in Bahrain.
Eligibility:
- Loans for all Nationalities
- Minimum Salary- BHD 300/- (for expats)
- Maximum time period- 7 Years
Features:
- Repayment choice in terms of installment size
- Low processing fees
- Salary Transfer is optional
- Interest rate – 3.5% for expats
- Maximum loan amount- BHD 10,000/-
8. Ahli United Bank – Personal Loans 
Ahli United Bank provides you a solution no matter what your requirement is you can apply for loans at low-interest rates, be it for vacations, marriage or home renovations.
Eligibility:
- Minimum salary of USD 100,000 required
Features:
- Variable and fixed interest available
- Low processing fees
- Low insurance fees
- An option of deferred installments is available
Requirement:
- Salary transfer to Ahli United Bank required.
9. National Bank of Bahrain- Expat loans 
National Bank of Bahrain offers you tailored made loans to meet all your personal needs- vacation, wedding or house renovation.
Eligibility:
- Working with NBB approved companies
- Minimum monthly salary- BHD 400/-
- Time period maximum- 60 months
- 6 months or more left on the current employment contract
- Working in Bahrain for 2 years or more
Features:
- Choice between the standard and special loan is offered
- Easy and hassle-free processing
Requirements:
- Salary Transfer to NBB mandatory
10. Future Bank 
You are just a step away from getting the loan you need. Future Bank gives you a loan which has easy documenting steps, hassle-free and speedy processing and the best of all u don’t need a guarantor.
Features:
- Available for both Bahrainis and Expats
- Available for salaried customers only.
- Maximum time period of 7 years.
- Interest rate of 6.5%
- Maximum loan amount of BHD 40,000/-
- Automatic payment deduction facility.
Requirements:
- Mandatory salary transfer to future bank.
To choose the best option available compare your loans at MyMoneySouq and get the best deals possible.