ADIB Boat Finance for Expats

adib Bank

WarningMessage This product is valid by the Bank

Boat Finance for Expats

Minimum Salary

AED 10K

Flat Rate

3.85%

Reducing Rate

6.99%

Loan Amount

AED 1000K

Early Settlement Fee

1%

Arrangement Fee

1%

Advantages

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

AED 10K

Minimum Salary

3.85%

Flat Rate

6.99%

Reducing Rate

AED 1000K

Loan Amount

1%

Early Settlement Fee

1%

Arrangement Fee

Advantages

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

Features

  • Required to submit bank account details for 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
  • It is a requirement to transfer your salary to apply
  • 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 1.814
  • It is a requirement to transfer your salary to apply
  • Finance up to AED 1,000,000
  • The early settlement fee for this scheme is 1% of the loan amount
  • Takaful is optional
  • Arrangement fee is 1% of loan amount

Benefits

  • No mortgage is required for finance up to AED 200,000
  • 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)
  • High finance is provided
  • Finance installment up to 3 years
  • Free postponement option

Frequently Asked Questions

Q. What information do I need to provide to ADIB bank while applying for boat finance?

A. While applying for boat finance you need to provide following information :
1. Information on demographic and employment
2. List of assets and liabilities
3. Boat you are interested in buying

Q. Do the expats need to provide copy of passport to apply for this finance?

A. Yes, expats need to provide copy of valid passport and valid residence visa while applying for this finance.

Q. In how many days do we get to know if our application is accepted by ADIB for boat finance or not?

A. Within two to three working days you get to know the bank's decision.

Q. How expensive boat can we buy from ADIB boat finance?

A. You can use our online loan calculator to determine your monthly payment or desired monthly payment to get the loan amount from ADIB.

Q. On what basis does ADIB evaluate my application?

A. ADIB evaluates your application on the basis of your credit score and your financial information.

ADIB

vvbbbb