ADCB Smart Loan

adcb Bank

WarningMessage This product is valid by the Bank

Smart Loan

Minimum Salary

AED 8K

Flat Rate

5.51%

Reducing Rate

10%

Loan Amount

AED 150K

Early Settlement Fee

1%

Arrangement Fee

1%

AED 8K

Minimum Salary

5.51%

Flat Rate

10%

Reducing Rate

AED 150K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • Both UAE Nationals and Expats can apply for this scheme
  • The loan is provided for a interest rate of 10%
  • Minimum salary of AED 8,000 is required
  • The reduction rate and the flat rate is 10% and 5.51%. This denotes that the computation done was a division of the reduction rate by 1.814
  • It is not mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 150,000
  • Early settlement fee is 1% of finance amount
  • Takaful fee is 1% of the finance amount
  • Arrangement fee is 1% of loan 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

Frequently Asked Questions

Q. What are the extra charges that I might have to pay with ADCB personal loan?

A. With ADCB personal loan you'll have to pay extra charges like processing fee and pre-payment fee etc all these can make up for the hidden cost.

Q. How is my loan eligibility calculated in ADCB bank?

A. Loan eligibility is calculated on the following factors:
1. Gross salary
2. Credit score
3. The company where you work
4. Loan and credit card outstanding

Q. How does ADCB decide the maximum personal loan amount that should be offered to an individual?

A. ADCB decides maximum personal loan on the basis of credit score, current liabilities and current income level.

Q. How can we repay the personal loan in ADCB?

A. You can repay personal loans with post dated Cheques or by releasing a payment through ECS system.

Q. Do we get any benefits for having higher credit score?

A. Yes, with higher credit score you can negotiate benefits such as low interest rate, high loan amount etc.

Q. Can I pre-pay personal loan in ADCB?

A. Yes, you can pre-pay the loan after 6 months of loan disbursement with additional charges.

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.