Abu Dhabi Commercial Bank (ADCB), established in 1985, holds a distinguished position among the top banks in the UAE. It offers an extensive range of financial products such as bank accounts, credit cards, wealth management solutions, and personal loans.
Get personal loan at Lowest Interest Rate
ADCB is particularly renowned for its digital banking approach, which encompasses various platforms such as mobile banking, phone banking, internet banking, and SMS banking, catering to the modern, tech-savvy customer.
Among the myriad products and services that the bank provides, ADCB personal loans are highly popular among both UAE nationals and expatriates.
This article aims to provide comprehensive details about ADCB personal loans, shedding light on their features, benefits, and application process.
Currently, Abu Dhabi Commercial Bank provides two types of personal loans products-
Tabled below provides the key details of both the ADCB personal loan products –
|ADCB Personal Loan Name||Interest Rate||TouchPoints Earned||Minimum Salary Required|
|ADCB Personal Loan for UAE Nationals||From 4.99%* per annum||Up to 300 touchpoints for every AED 1,000 of the loan amount||AED 5,000|
|ADCB Personal Loan for Expatriates||From 5.75%* per annum||Up to 300 touchpoints for every AED 1,000 of the loan amount||AED 5,000|
*Interest rates are subject to change as per the applicant’s profile and other factors
Without further ado, let’s take a look at the key features and benefits of ADCB personal loans -
|Types of ADCB Personal Loan||Features and Benefits|
|ADCB Personal Loan for UAE Nationals||
|ADCB Personal Loan for Expatriates||
To apply for an ADCB personal loan, you would need to fulfil the eligibility criteria mentioned below –
Keep the following documents ready when you apply for an ADCB personal loan –
Note: The bank may ask for additional documents if required. You must submit the paperwork on time to speed up the loan application process.
Tabled below are the charges and fees associated with this ADCB personal loan –
|Parameters||Fees and Charges|
|Processing fees – for new and buy-out loans||1.05% of the loan amount
|Top up loans processing fees||1.05% of the loan amount
|Privilege Club and excellency clients – processing fees||1.05% of the loan amount
|Credit life insurance||0.0168% x loan tenure (in months) x loan amount|
|Early settlement or partial settlement fees||1.05% of the settled amount
|Instalment deferment||AED 105 per deferment|
|Penalty for the delayed amount||AED 105 per deferment|
|Loan cancellation fee||AED 105|
|Loan rescheduling fee||AED 262.50|
|Other documents (issuing redemption statement, loan copy, audit confirmation) requested by customers||AED 26.25|
To apply for an ADCB personal loan, you can utilise the user-friendly platform of Policybazaar UAE. Here's how -
Applying for an ADCB personal loan via Policybazaar UAE comes with numerous advantages -
Policybazaar.ae not only simplifies the process of applying for an ADCB personal loan but also ensures that you are well-informed and supported throughout your loan application journey.
You must adhere to the following terms and conditions while applying for an ADCB personal loan –
'TouchPoints' is a loyalty program introduced by Abu Dhabi Commercial Bank (ADCB) that rewards its customers for various interactions with the bank - this includes personal loans as well. These points, which can be redeemed for a variety of valuable services and products, provide a unique incentive for customers to continue their relationship with ADCB.
By securing a personal loan from ADCB, customers can earn TouchPoints based on the amount borrowed, thereby adding an additional advantage to the borrowing experience. In the subsequent section, we delve into the specific eligibility criteria that determine how many TouchPoints can be earned through ADCB personal loans.
Important: TouchPoints will be awarded based on the net loan amount and not on the interest or other fees associated with the loan.
Take a look at some frequently asked questions (FAQs) below to know more about the ADCB personal loan –
Ans: The minimum age to apply for an ADCB personal loan is 21 years. However, the maximum age at which the loan should be fully repaid varies based on the nationality of the borrower. The maximum limit is 60 years for expatriates and 65 years for UAE nationals.
Ans: The minimum monthly income required to apply for an ADCB personal loan is AED 5,000.
Ans: No, it is not necessary to be an existing ADCB customer to apply for a personal loan. However, once you decide to apply for the loan, you will need to open a Current Account with ADCB for the loan repayments. This account will act as your Personal Loan Repayment Account.
Ans: You can apply for an ADCB personal loan through the Policybazaar UAE platform. Simply fill out the lead form in the Personal Loan section to be redirected to a page with personal loan quotes. Using the filters on the page, you can sort and select the ADCB personal loan that suits your needs.
Ans: Policybazaar.ae offers a user-friendly interface, a comparison tool for different loan options, instant quotes, detailed information about each loan, and excellent customer support throughout the loan application process.
Ans: The number of TouchPoints earned from a personal loan depends on the loan amount. For loans ranging between AED 10,000 and AED 150,000, you earn 200 TouchPoints for every AED 1,000 borrowed. For loans exceeding AED 150,000, you earn 300 TouchPoints for every AED 1,000 of the loan amount.
It’s worth keeping in mind that the maximum number of TouchPoints that you can get from a personal loan is capped at 75,000.