ADCB Business Insta Loan

adcb Bank

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Business Insta Loan

Flat Rate

9.37%

Reducing Rate

17%

Min Finance Amount

AED 50K

Max Finance Amount

AED 2000K

Early Settlement Fee

5%

Min Annual Turnover

AED 1000K

Tenure

36 Months

Approval Time

7 Days

Processing Fee

2%

9.37%

Flat Rate

17%

Reducing Rate

AED 50K

Min Finance Amount

AED 2000K

Max Finance Amount

5%

Early Settlement Fee

AED 1000K

Min Annual Turnover

36 Months

Tenure

7 Days

Approval Time

2%

Processing Fee

Features

  • The reduction rate and the flat rate is 17% and 9.37%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Provides maximum finance amount of up to AED 2,000,000
  • Early settlement fee is 5% of the loan amount
  • Processing fee is 2% of the loan amount
  • Repayment period is up to 36 months
  • Provides minimum finance amount of up to AED 50,000
  • The maximum annual turnover limit to be eligible for applying for this finance is AED 150,000,000
  • Minimum annual sales turnover of AED 1,000,000 is needed to apply for this finance
  • It is a requirement to have an account in this bank to apply for a business loan
  • After successful submission of documents, within next 7 working days the bank will approve the loan

Required Documents

  • Trade License should be valid
  • Application form
  • All the partners and local partners are required to submit passport copies while applying for the finance
  • All the partners and local partners are required to submit Emirates ID while applying for the finance
  • Audited financials of last 2 years have to be submitted to the bank
  • Bank statements of last 6 months have to be submitted to the bank

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • Pre approved credit card is provided along with this scheme
  • Documentation process is simple and easy

Frequently Asked Questions

Q. Do we have to give any penalty on prepayment of business loan?

A. Yes, you can do prepayment of loan after 6 months of loan disbursal and it can only be done once a year. Along with this prepayment penalty will also be charged.

Q. What will happen if there is an ECS bounce in ADCB bank?

A. It will be reported in your credit history and will affect your credit possibilities in future.

Q. How do we repay our business loan in ADCB bank?

A. You can repay business loan through PDC or sign a ECS mandate in favor of the ADCB bank.

Q. In how many days do I receive my business loan amount?

A. Once your loan application is approved, it'll take 4-5 working days to receive your business loan amount.

Q. Can I apply for business loan if I have bad credit history?

A. Yes, only problem is bank will charge you with high rate of interest as the risk is high.

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.