ADIB Personal Finance for Expats

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adib Bank

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Personal Finance for Expats

Minimum Salary

AED 8K

Flat Rate

3.85%

Reducing Rate

6.99%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

  • No processing fees
  • Free ADIB Visa Cashback Credit card
  • Can postpone 2 installments per year

AED 8K

Minimum Salary

3.85%

Flat Rate

6.99%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Advantages

  • No processing fees
  • Free ADIB Visa Cashback Credit card
  • Can postpone 2 installments per year

Features

  • Required to submit bank account details for last 3 months
  • UAE Nationals of age 21 to 65 years can apply for this scheme
  • Expats of age 21 to 60 years can 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 upto 48 months
  • The loan is provided for a interest rate of 6.99%
  • Minimum salary of AED 8,000 is required
  • The reduction rate and the flat rate is 6.99% and 3.85%. This denotes that the computation done was a division of the reduction rate by 1.815
  • It is a requirement to transfer your salary to apply
  • Finance up to AED 1,000,000
  • The early settlement fee is 1% of the outstanding amount to date
  • Takaful cover is 1.25% of the finance amount. Takaful is optional
  • Arrangement fee is 1% of loan amount

Benefits

  • Finance up to AED 1 million amount
  • For finance up to AED 1,000,000 mortgage 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)
  • First installment can be paid up to 90 days of approval for loan

Frequently Asked Questions

Q. How long does it take to repay ADIB personal loan?

A. Your repayment period may range from one year or ten years depending on your loan amount and your EMI.

Q. Once ADIB personal loan is approved how soon will I get my loan amount and how will I receive it?

A. Once loan gets approved it will take 2-3 days to get the amount transferred to your bank account.

Q. What is the length of service needed for UAE Nationals and Expats to apply for this finance?

A. UAE Nationals need to have length of service for three months and for expats it is six months.

Q. Does ADIB bank verifies information that I have mentioned in my application form?

A. Yes, ADIB will verify information that you provided in application form. Any discrepancies may lead to declining of loan.

Q. ADIB does credit check before approving personal loan?

A. Yes, ADIB does credit checks to establish the loan is affordable to all the applicants or not .

Q. How can we calculate EMI's in ADIB bank for personal loan?

A. You can use loan EMI calculator present on our website to calculate your EMI's in ADIB.

ADIB

With a mission statement of ‘Islamic finance for everyone’, Abu Dhabi Islamic Bank (ADIB) is a name synonymous with Islamic banking in the UAE. ADIB endeavors to be a responsible corporate citizen and manage its business by creating value for customers, shareholders, employees and communities wherever it operates. The corporate values of ADIB are:

  • Simple and Sensible
  • Transparent
  • Mutually beneficial work
  • Hospitable and tolerant
  • Shariah inspired

Launched on November 11, 1998, ADIB has come a long way towards fulfilling its vision of becoming a top tier regional bank.