ADCB Islamic Banking Personal Finance For UAE Nationals

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Islamic Banking Personal Finance For UAE Nationals

Minimum Salary

AED 10K

Flat Rate

2.75%

Reducing Rate

4.99%

Loan Amount

AED 4000K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 10K

Minimum Salary

2.75%

Flat Rate

4.99%

Reducing Rate

AED 4000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • Only UAE Nationals can apply for this scheme
  • The loan is provided for a interest rate of 4.99%
  • Minimum salary of AED 10,000 is required
  • The reduction rate and the flat rate is 4.99% and 2.75%. This denotes that the computation done was a division of the reduction rate by 1.814
  • It is mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 4,000,000
  • Early settlement fee is 1% of the finance amount
  • Takaful fee is 1% of the finance amount
  • Arrangement fee is 1% of loan amount

Benefits

  • For every AED 1000 of your insurance amount can earn ADCB TouchPoints
  • Documentation is simple
  • High finance amount is offered
  • Takaful insurance coverage is provided
  • They finance amount of up to 20 salary multiples

Frequently Asked Questions

Q. What is the minimum and maximum tenure for ADCB personal loan?

A. Minimum tenure is 12 months and maximum is 60 months for ADCB personal loan.

Q. Whar will happen if I miss one or two EMI's of ADCB personal loan?

A. If you miss one or two EMI's you will have bad credit history which will affect your future loan application.

Q. Can I apply for ADCB personal loan with bad credit history?

A. Yes, you can but interest rates will be high as risk of default is high.

Q. If my loan application is once declined by the bank will I be able to apply again?

A. Yes, you can apply again but in due course. Also you need to make sure that your circumstances have changed since your last application.

Q. Do I need to be an existing ADCB account holder to apply for this finance?

A. No, you can apply for this finance even if you are not an existing account holder in ADCB.

ADCB

Abu Dhabi Commercial Bank (ADCB), features in the Forbes list of top 1000 biggest public companies. It provides retail, commercial, Islamic banking and other financial services to people. Founded in 1985 and headquartered in Abu Dhabi, UAE, the bank operates on five strategic pillars:

  • UAE-centric approach with controlled internationalization
  • Sustainability through growth of liabilities
  • Culture of efficiency and service excellence
  • Follow a pre-defined risk strategy
  • Focuses on staff

ADCB offers three categories of services:

  • Aspire
  • Privilege Club
  • Excellency

The services and charges vary depending on the category in which you choose to bank with them.