ADCB Salam Personal Finance for Expats

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Salam Personal Finance for Expats

Minimum Salary

AED 5K

Flat Rate

3.45%

Reducing Rate

6.25%

Loan Amount

AED 1500K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 5K

Minimum Salary

3.45%

Flat Rate

6.25%

Reducing Rate

AED 1500K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Only UAE Nationals can apply for this scheme
  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 6.5%
  • Minimum salary of AED 5,000 is required
  • The reduction rate and the flat rate is 6.25% and 3.45%. This denotes that the computation done was a division of the reduction rate by 1.8115
  • It is mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 1,500,000
  • 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
  • Takaful insurance is provided free with the scheme
  • Free ADCB Credit Card is provided along with this scheme
  • Credit Life Insurance is provided along with this scheme

Frequently Asked Questions

Q. What can we do with TouchPoints that we win with ADCB personal finance?

A. TouchPoints can be used to pay your utility bills or can be exchanged for vouchers at some of UAE's most prestigious retailers.

Q. How long does it take to get loan amount from ADCB bank?

A. Once all the documents are submitted ADCB bank takes from 72 hours to a weeks time for disbursement of loan amount.

Q. Once the personal loan gets approved how does it get disbursed?

A. You will either receive an account payee cheque or the money will get deposited in your ADCB account automatically.

Q. Is my personal information protected in ADCB bank?

A. Yes, your personal information is secured by the bank's designated officials in the safe locker.

Q. Do I get insurance along with this scheme?

A. Yes, ADCB provides Takaful insurance coverage along with personal loan.

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.