ADIB Debt Settlement for Expats

adib Bank

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Debt Settlement for Expats

Minimum Salary

AED 8K

Flat Rate

3.72%

Reducing Rate

6.75%

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

3.72%

Flat Rate

6.75%

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
  • Required to submit Liability Certificate
  • Finance repayment period is up to 48 months
  • Only UAE Nationals can apply for this scheme
  • 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
  • The loan is provided for a interest rate of 6.75%
  • Minimum salary of AED 8,000 is required
  • The reduction rate and the flat rate is 6.75% 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 1,000,000
  • The early settlement fee is 1% of the outstanding amount to date
  • Takaful cover is 1.25% of the finance amount.
  • Arrangement fee is 1% of loan amount

Benefits

  • 100% processing fee waiver
  • No processing fees, no hidden charges
  • High finance amount
  • Finance up to AED 1,000,000 amount
  • 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 payment grace period up to 3 months

Frequently Asked Questions

Q. Can we get fast pre-approval for this loan?

A. Yes, you can call on ADIB toll free number to get 10 minutes pre-approval.

Q. Can I use my credit card while I am settling debts in ADIB bank?

A. No, you won't be allowed to use credit card while settling your debts.

Q. When will I be able to settle my first debt in ADIB?

A. Settlement time in ADIB depends on creditors and the amount of money that you can save.

Q. Are there any debts that can't be included in ADIB debt settlement program?

A. Yes, secured debts cannot be negotiated in ADIB debt settlement program.

Q. Will bankruptcy clear all my debts in ADIB?

A. Yes, bankruptcy will clear most of your debts but the total amount depends on type of bankruptcy and the types of debts.

ADIB Bank

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