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ADIB Boat Finance for UAE Nationals

ADIB Bank

Boat Finance for UAE Nationals

Minimum Salary

AED 8K

Flat Rate

3.72%

Reducing Rate

7.25%

Loan Amount

AED 3000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • Free ADIB Visa Cashback card
  • High finance amount
  • No collateral required for finance up to AED 200K
minimum salary

AED 8K

Minimum Salary

flat rate

3.72%

Flat Rate

reducing rate

7.25%

Reducing Rate

max finance

AED 3000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

Advantages

  • Free ADIB Visa Cashback card
  • High finance amount
  • No collateral required for finance up to AED 200K

View details on bank page

Features

  • Required to submit bank account details of last 3 months
  • Loan applicant must be 21 years old to apply for this scheme
  • Length of service should be confirmed or should have worked 6 months before applying for this scheme
  • Finance repayment period is up to 48 months
  • Minimum salary of AED 8,000 is required
  • The reduction rate and the flat rates are 7.25% and 3.72%. This denotes that the computation done was a division of the reduction rate by 1.814
  • It is a requirement to transfer your salary to apply
  • Finance up to AED 3000000
  • The early settlement fee is 1% of the outstanding amount to date
  • Takaful cover is up to 1.25% of the finance amount
  • The arrangement fee is 1% of the loan amount

Benefits

  • Provides high loan amount
  • For finance up to AED 200,000 collateral is not necessary
  • ADIB VISA Cashback Card will be provided free for the first year
  • You are allowed to postpone two payments per year (without any additional charges)

Overview

  • Free ADIB VISA Cashback Card will be provided
  • Can postpone up to 2 installments per year
  • Can avail high finance
  • Low minimum salary requirement
  • Competitive interest rates
  • Salary transfer is required
  • Only UAE nationals are eligible

Frequently Asked Questions

⭐ What all does the ADIB boat insurance cover?

A. ADIB boat finance covers several factors including the boat’s location, size of boat, age of boat, your ownership and operating experience.

⭐ Is it mandatory to have insurance on my boat?

A. Yes, in some states it is mandatory to get boat insurance. ADIB offers you insurance cover at 1.25% of finance amount for your boat.

⭐ What are my chances of getting approval for ADIB boat loan?

A. If you have a good credit history, work history and fulfilling minimum salary requirement then you can easily get your loan approved.

⭐ Who can apply for an ADIB Boat loan?

A. The applicant must be aged 21 and above to apply for ADIB Boat loan.

⭐ Do I need to have exact boat picked out before I apply for ADIB boat finance?

A. No, not for pre-qualification of boat finance.

ADIB

ADIB is a Public Joint Stock company and is one of the largest banks in the UAE region. Its values include transparency in services, an atmosphere of hospitality and tolerance followed by nature of simplicity and sensibility.

ADIB stands as one of the best banks of UAE by carrying out all the transactions, contracts and services by abiding Ismalic Shari'a principles.

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