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 rate Flat Rate

3%

minimum salary Minimum Salary

BHD 350

reducing rate Reducing Rate

5.4%

max amount Max Loan Amount

BHD 100K

arrangement feeArrangement Fee

0.12%

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
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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

View details on bank page

flat rate Flat Rate

6.5%

minimum salary Minimum Salary

BHD 3K

reducing rate Reducing Rate

11.7%

early settlement fee Early Settlement Fee

1%

arrangement feeArrangement Fee

1.5%

Features

  • A minimum salary of BHD 3000 is required
  • Salary transfer is required
  • Maximum tenure of 7 yrs is provided
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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

View details on bank page

flat rate Flat Rate

9.69%

minimum salary Minimum Salary

BHD 300

reducing rate Reducing Rate

17.44%

max amount Max Loan Amount

BHD 40K

Features

  • Maximum finance of BHD 40,000 is provided
  • Maximum tenure of 7 years is provided
  • Can avail loan buy-out facility
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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

View details on bank page

flat rate Flat Rate

2.5%

minimum salary Minimum Salary

BHD 250

reducing rate Reducing Rate

4.5%

max amount Max Loan Amount

BHD 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
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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

View details on bank page

flat rate Flat Rate

6.5%

minimum salary Minimum Salary

BHD 400

reducing rate Reducing Rate

11.7%

max amount Max Loan Amount

BHD 40K

Features

  • Both expats and Bahrainis are eligible
  • Only salaried customers are eligible
  • Maximum tenure provided is 7 yrs
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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

View details on bank page

flat rate Flat Rate

6.66%

minimum salary Minimum Salary

BHD 500

reducing rate Reducing Rate

11.99%

max amount Max Loan Amount

BHD 25K

Features

  • Maximum tenure of 7 yrs is provided
  • Both expats and Bahrainis are eligible
  • Applicant must be between 21-60 yrs
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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

View details on bank page

flat rate Flat Rate

3%

minimum salary Minimum Salary

BHD 200

reducing rate Reducing Rate

5.3%

max amount Max Loan Amount

BHD 100K

early settlement fee Early Settlement Fee

1%

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
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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

View details on bank page

flat rate Flat Rate

3%

minimum salary Minimum Salary

BHD 500

reducing rate Reducing Rate

5.4%

max amount Max Loan Amount

BHD 10K

early settlement fee Early Settlement Fee

1%

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)
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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

View details on bank page

flat rate Flat Rate

3%

minimum salary Minimum Salary

BHD 300

reducing rate Reducing Rate

5.4%

Features

  • Flat rate of 3% and reducing rate of 5.4% is charged
  • Minimum salary of BHD 300 is required
View All Loans

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

View details on bank page

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