Personal Loans in Bahrain
Personal loan Interest Rates in Bahrain
Minimum Salary
Interest Rate
Loan Amount
Reducing Rate
Check Personal loans offered for your salary
Flat Rate3.75%
Minimum SalaryBHD 800
Reducing Rate7%
Max Loan AmountBHD 2K
Features
- Maximum Loan amount provided is BHD 2000
- Processing fees of BHD 50 - BHD 150 is charged
- Maximum tenure of 60 months is provided
Features
- Maximum Loan amount provided is BHD 2000
- Processing fees of BHD 50 - BHD 150 is charged
- Maximum tenure of 60 months is provided
- Flat rate of 3.75% and reducing rate of 7.0% is charged
- The loan applicant must be of 21yrs-55yrs old
- Only salaried individuals are eligible
- Minimum income of BHD 800 is required
- Salary transfer is required
Minimum 1 yr of employment in Bahrain with current confirmed employment contract is required
Benefits
- No pre-payment fees are charged
- High finance is offered
- Long repayment period is provided
Flat Rate3%
Minimum SalaryBHD 350
Reducing Rate5.4%
Max Loan AmountBHD 100K
Features
- Both Bahraini and non-Bahraini nationals are eligible
- Maximum tenure of 7 years is provided
- Maximum loan amount of BHD 100,000 is offered
Features
- Both Bahraini and non-Bahraini nationals are eligible
- Maximum tenure of 7 years is provided
- Maximum loan amount of BHD 100,000 is offered
- Flat rate of 3% is charged and reducing rate of 5.4% is charged
- Applicant must be 21-70 yrs old
- Minimum work experience of 4 months(Bahraini nationals) and 1 yr(non-Bahraini nationals) is required
- Minimum income of BHD 500 is required for non-Bahraini nationals
Minimum income of BHD 350 is required for Bahraini nationals if the company is listed with the bank - Salary transfer is mandatory
Benefits
- High finance is provided
- Repayment period is 7 yrs
- Simple documentation
Flat Rate6.5%
Minimum SalaryBHD 3K
Reducing Rate11.7%
Features
- A minimum salary of BHD 3000 is required
- Salary transfer is required
- Maximum tenure of 7 yrs is provided
Features
- A minimum salary of BHD 3000 is required
- Salary transfer is required
- Maximum tenure of 7 yrs is provided
- Interest rates of 6.5(flat rate) and 11.7%(reducing rate) is charged
- Both expats and Bahraini nationals are eligible
Benefits
- Free Rahal express card is provided
- Complimentary MasterCard is provided
- Can skip monthly installments 6 months once
Flat Rate9.69%
Minimum SalaryBHD 300
Reducing Rate17.44%
Max Loan AmountBHD 40K
Features
- Maximum finance of BHD 40,000 is provided
- Maximum tenure of 7 years is provided
- Can avail loan buy-out facility
Features
- Maximum finance of BHD 40,000 is provided
- Maximum tenure of 7 years is provided
- Can avail loan buy-out facility
- Interest rates of 9.69(flat rate) and 17.44%(reducing rate) is charged
- Both expats and Bahrainis are eligible
- A minimum salary of BHD 300 is required
- Only salaried customers are eligible
Benefits
- Flexible repayment options
- Free credit card
- Quick processing of loan
- Grace period up to 45 days is provided
Flat Rate2.5%
Minimum SalaryBHD 250
Reducing Rate4.5%
Max Loan AmountBHD 100K
Features
- Interest rates of 2.5(flat rate) and 4.5%(reducing rate) is charged
- Minimum salary of BHD 250(for Bahrainis) and BHD 300(For expats) is required
- Maximum finance of BHD 100,000 is provided
Features
- Maximum tenure of 48 months is provided
- Both Bahrainis and expats are eligible
- Interest rates of 2.5(flat rate) and 4.5%(reducing rate) is charged
- Minimum salary of BHD 250(for Bahrainis) and BHD 300(For expats) is required
- Maximum finance of BHD 100,000 is provided
Benefits
- Hassle free processing
- Low processing fees
- Takaful coverage on competitive rates is provided
- Salary transfer is not mandatory
Flat Rate6.5%
Minimum SalaryBHD 400
Reducing Rate11.7%
Max Loan AmountBHD 40K
Features
- Both expats and Bahrainis are eligible
- Only salaried customers are eligible
- Maximum tenure provided is 7 yrs
Features
- Both expats and Bahrainis are eligible
- Only salaried customers are eligible
- Maximum tenure provided is 7 yrs
- Bahrainis can avail personal overdraft facility
- Interest rates of 6.5(flat rate) and 11.7%(reducing rate) is charged
- A minimum salary of BHD 400 is required
- Salary transfer is required
- Maximum finance of BHD 40,000 can be availed
Benefits
- High finance is provided
- Bahrainis can avail personal overdraft facility
- Loan installment will be deducted automatically from your account
Flat Rate6.66%
Minimum SalaryBHD 500
Reducing Rate11.99%
Max Loan AmountBHD 25K
Features
- Maximum tenure of 7 yrs is provided
- Both expats and Bahrainis are eligible
- Applicant must be between 21-60 yrs
Features
- Maximum tenure of 7 yrs is provided
- Both expats and Bahrainis are eligible
- Applicant must be between 21-60 yrs
- Interest rates start at 6.66%
- A minimum salary of BHD 500 is required
- Maximum finance of BHD 25,000 is provided
Benefits
- Provides HSBC current account
- No minimum balance requirement on the current account provided
- Less paperwork
Flat Rate3%
Minimum SalaryBHD 200
Reducing Rate5.3%
Max Loan AmountBHD 100K
Features
- Interest rates charged are flat rate 3% and reducing rate 5.3%
- Minimum salary required is BHD 200
- Salary transfer to NBB is required
Features
- Maximum repayment period provided is 7 years
- Interest rates charged are flat rate 3% and reducing rate 5.3%
- Minimum salary required is BHD 200
- Salary transfer to NBB is required
- Maximum finance of BHD 100,000 is provided
Benefits
- Hassle free documentation
- Longer tenure
- Quick approval
- Loan insurance is provided
Flat Rate3%
Minimum SalaryBHD 500
Reducing Rate5.4%
Max Loan AmountBHD 10K
Features
- Flat rate of 3% and reducing rate of 5.4% is charged
- Minimum salary of BHD 500 is required
- Maximum loan amount provided is BHD 10,000 or 10 times the monthly salary(whichever is lower)
Features
- Maximum tenure provided is 1 year
- Only Bahraini nationals are eligible
- Flat rate of 3% and reducing rate of 5.4% is charged
- Minimum salary of BHD 500 is required
- Maximum loan amount provided is BHD 10,000 or 10 times the monthly salary(whichever is lower)
Benefits
- Can avail loan renewal facility
- Can get insurance for the loan
Flat Rate3%
Minimum SalaryBHD 300
Reducing Rate5.4%
Features
- Flat rate of 3% and reducing rate of 5.4% is charged
- Minimum salary of BHD 300 is required
Features
- Salaried, self-employed and retirees are eligible
- Flat rate of 3% and reducing rate of 5.4% is charged
- Minimum salary of BHD 300 is required
Benefits
- Quick approval
- A grace period of 4 months is provided
What is a Personal Loan
Personal loans are the unsecured type of loans. There is no collateral required for it. These loans are provided on the basis of your credit history which checks the ability to repay the loan. The repayment of the loan is done by paying monthly installments where tenure is fixed. Banks in Bahrain provides personal loans on the basis of flat and reducing interest rates. They offer loans that follow Islamic principles also.
Benefits of Personal Loan
Bahrain banks provide several benefits for people opting for a personal loan. Like:
- Various options are provided for self-employed individuals adn salaried individuals respectively.
- Many banks provide a wide range of offers like free credit cards to the loan holders.
- Some banks offer a grace period on the first few months of the loan approval.
- Banks also offer repayment holidays where the loan holders can skip the installment payments for 1-2 months.
- Can get an insurance cover for the loan
- Personal loans compliant with the sharia principles are provided at most of the banks in Bahrain.
- Can top-up loan.
Features of a Personal Loan
- Both Bahrain Nationals and Expats are eligible for the finance in Bahrain.
- The maximum loan provided is BHD 100K.
- The interest rate varies with each individual. Mostly it depends on the applicant’s income and the loan amount. It can start at 2.5% p.a.(fixed) or 4.5% p.a.(reducing).
- The minimum monthly salary required to get a Personal Loan in Bahrain is BHD 200.
- The loan amount approved will be based on the applicant’s income.
- The maximum tenure that can be availed is 7 years
- 0.12%-2.5% of the loan amount approved is charged as processing fees on the loan
- Early settlement fees charged is 1% of the outstanding loan amount
- Can clear the loan by making partial payments where affordable charges are levied
Use our EMI Calculator to Calculate your Personal Loan Installments.
Eligibility for a Personal Loan in Bahrain
The eligibility criteria on a personal loan differ from bank to bank. Some common factors that are considered are:
- Must be a Bahraini resident of at least 21years
- Self-employed and salaried individuals are allowed
- Salaried individuals who have confirmed employment or work length of 1yr at least
- BHD 200 is the minimum monthly income required
- Salary transfer to the bank accounts depends on the bank
Documents required for Personal Loan in Bahrain
Basic documents that are needed are:
- Identity proofs driving license etc. for validation.
- For Expatriates – valid passport and a CPR with valid Bahrain residence permit
- Salary/employment proof
- Latest 3-6 months bank statement where the salary is getting transferred.
- Employment contract
- 3-6 months payslips
- For self-employed individuals – The commercial registration
Other documents may be requested by the bank depending on the applicant’s profile.
Personal Loan application rejection
There can be various reasons behind a personal loan rejection. Most of the banks don’t reveal the reason. But some of the usual mistake banks consider are:
- Salary criterion
- Working in a company that is not listed with the bank
- Personal information provided is not correct or valid
- No proper documents
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