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SimplyLife SimplyRental

SimplyLife Bank

WarningMessage This product is discontinued by the Bank

SimplyRental

Minimum Salary

AED 5K

Flat Rate

4.5%

Reducing Rate

7.99%

Loan Amount

AED 500K

Early Settlement Fee

AED 0

Arrangement Fee

0%

minimum salary

AED 5K

Minimum Salary

flat rate

4.5%

Flat Rate

reducing rate

7.99%

Reducing Rate

max finance

AED 500K

Loan Amount

early settlement fee

AED 0

Early Settlement Fee

arrangement fee

0%

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 7.99%
  • Minimum salary of AED 5,000 is required
  • The reduction rate and the flat rate is 7.99% and 4.5%. This denotes that the computation done was a division of the reduction rate by 1.775
  • It is not mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 500,000
  • Early settlement fee is AED 0
  • Arrangement fee is 0% of loan amount

Benefits

  • Can get up to AED 500,000 loan amount
  • Repayment period is long
  • Extra fees won’t be applied for early settlement of loans from own funds

Frequently Asked Questions

⭐ What all extra benefits do we get along with SimplyLife simply rental loan?

A. You can get 1.5% cashback on your SimplyLife credit card and 2 free movie tickets on a monthly spend of AED1,500.

⭐ What is the processing fee for SimplyLife simply rental loan?

A. There is no processing fee for SimplyLife simply rental loan.

⭐ Who all can apply for SimplyLife simply rental loan?

A. Only Abu Dhabi Commercial Property customers with minimum salary of AED 5000 per month can apply for SimplyLife simply rental loan.

⭐ Do we get free credit card with this loan?

A. Yes you get free for life SimplyLife credit card with this loan.

⭐ What are the foreclosure charges for personal loan in SimplyLife?

A. Foreclosure charges range from 1% to 2% of total outstanding amount.

SimplyLife

In April 2014, Abu Dhabi Commercial Bank (ADCB) launched a consumer finance brand focused on quick and easy personal finance products – SimplyLife. Launched as a strategic business unit of ADCB, SimplyLife endeavors to offer personal finance options to people with minimum documentation and a simplified application process. ‘Don’t let life’s special moments pass you by’ is the mission statement of SimplyLife and their policies are centered on making loans quicker and easier. For emergencies, SimplyLife has a priority call back service which can be availed of by sending an SMS ‘emergency’ to 2636.

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Free for Life Cashback Card with 20% Cashback*