ADCB Rental Loan

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adcb Bank

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Rental Loan

Minimum Salary

AED 6K

Flat Rate

7.71%

Reducing Rate

14%

Loan Amount

AED 150K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 6K

Minimum Salary

7.71%

Flat Rate

14%

Reducing Rate

AED 150K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Only UAE Nationals can apply for this scheme
  • Repayment period is up to 12 months
  • The loan is provided for a interest rate of 14%
  • Minimum salary of AED 6,000 is required
  • The reduction rate and the flat rate is 14% and 7.71%. This denotes that the computation done was a division of the reduction rate by 1.815
  • Finance up to AED 150,000
  • Early settlement fee is 1% of the loan amount
  • Takaful fee is 1% of the finance amount
  • Arrangement fee is 1% of the finance amount

Benefits

  • For every AED 1000 of your insurance amount can earn ADCB TouchPoints
  • Documentation is simple
  • High finance amount is offered
  • Properties that are managed by Abu Dhabi Commercial Properties get special profit rates
  • Rent can be repaid in easy valued monthly installments
  • It is not mandatory to transfer your salary to apply for this scheme

Frequently Asked Questions

Q. How do I receive loan amount once the loan is approved by ADCB bank?

A. Personal loan will directly get credited to your nominated account once approved.

Q. How long will the bank take to approve the loan?

A. The approval of loan depends on the loan amount you applied for. Mostly it takes around a weeks time to get approved by ADCB bank.

Q. If I default on a loan does the co-applicant gets affected?

A. Yes, if you default on a loan then it affects your co-applicants credit history also.

Q. Can the bank change interest rates whenever they wish to?

A. Yes, the bank can change interest rates when it deems appropriate.

Q. Can we get loan on properties that are not managed?

A. Yes, ADCB provides loan on properties that are not managed. However, minimum salary required in this case is AED 10,000.

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.