UAE: 7 banks that offer up to 90% of your salary in advance

[Editor's note: An earlier version of this story earlier mentioned 8 banks. However, in a new update one bank has now discontinued the service.]

Some banks in the UAE offer salaries in advance to cater to their customers' emergency needs. Be it a hospital bill, credit card payment, electricity bill or any other urgent cash need, this facility is a big relief for customers to meet their untoward expenses. And some residents find it a more viable option rather than borrowing money from people.

The bank customers who wish to avail this facility can get their salary credited into their account directly upon the approval of the application with just a click of a button through the bank’s portal, ATMs, customer service centre or by visiting the branch.

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However, banks have different conditions and eligibility criteria for getting a salary in advance, which employees should check before applying for it.

Some banks made it mandatory that customers must not transfer their salary to another bank when ‘salary in advance’ is active on the account. However, some banks allow customers who have a salary transfer account with other banks to obtain a salary in advance upon submitting certain documents.

Some banks also provide instant cash through salary overdraft facility to their customers. A salary overdraft is a form of revolving credit that they can avail of on their salary account.

Below is the list of banks that offer an advance salary to their customers:

1. Abu Dhabi Islamic Bank: ADIB allows its customers to access up to 50 per cent of their salary on a Murabaha basis before the salary payment day at a competitive profit rate and for zero process fees.

2. Abu Dhabi Commercial Bank: A salary advance facility is offered to customers against a one-time processing fee of Dh105. Through this facility, the bank’s customers will have instant access to cash when they need it. The customers are offered up to 2.5 times their salary. The customer is required to fill out an application form, salary transfer letter, liability letter (if required), three months' bank statements (if the account is with another bank), and a copy of passport and Emirates ID card. The UAE residents can apply through its call centre or by visiting one of its branches.

3. Ras Al Khaimah bank: It provides a salary advance facility to its customers at a cost of Dh200.

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