Everything You Absolutely Must Know About ADCB Personal Loans

Abu Dhabi Commercial Bank is one of the leading banks from the UAE. Abu Dhabi Commercial Bank provides lower interest rates and flexible repayment term in personal finance. But these terms can be affected by the salary that you make monthly. Before applying for personal finance in Abu Dhabi Commercial Bank, calculate your eligibility. If you are eligible for personal finance, calculate the interest rates too beforehand. Abu Dhabi Commercial Bank provides finance amount and the interest rate depending on the applicant’s monthly salary and credit score. You can check ADCB personal loan interest rate online.

Abu Dhabi Commercial Bank provides personal loan for UAE Nationals and the expats. Below we have listed everything you should know about the ADCB personal loan based on the categories.

Personal Loan for UAE Nationals

Eligibility for the Personal Loan

  • The applicant must be 21 years of age
  • The applicant must have a minimum salary of AED 10,000
  • Salary transfer is required

Benefits of the Personal Loan for UAE Nationals include

  • Salary overdraft up to 3X
  • Free credit card of ADCB Bank
  • Life insurance with a ‘onetime’ fee
  • Availability of the loan consolidation
  • Cover for loss of a job
  • Documentation is simple
  • On every AED 1000 of the finance amount, 200 touchpoints are awarded (with AED 1,50,000 or less as the loan amount)
  • On every AED 1000 of the finance amount, 300 touchpoints are awarded (with AED 1,50,000 or above as the loan amount)

Features of the Personal Loan for UAE Nationals Include

  • Up to 48 months of repayment tenure
  • Up to 1.05% of the finance amount for credit life insurance
  • The processing fee is 1.05% of the finance amount (minimum amount is AED 525)
  • The early or partial settlement fee is 1.05% of the outstanding amount (AED 10,500 is the maximum amount)
  • The interest rate starts from 5.25% of the loan amount per annum

Documents Required

  • Emirates ID
  • Salary transfer letter/salary certificate
  • Proof of address (utility bills, etc.)
  • Bank statements of 36 months
  • The trading license of the selfemployed individuals

Personal Loan for Expats

Eligibility for the Personal Loan

  • The applicant must have a minimum salary of AED 5,000
  • Salary transfer is required
  • The applicant must be 21 years of above

Benefits of the Personal Loan for Expats Include

  • Salary overdraft available up to 2X
  • Availability of the loan consolidation
  • Free credit card of ADCB bank
  • Life insurance with a ‘onetime’ fee
  • Documentation is simple
  • Cover for the loss of a job
  • On every AED 1000 of the finance amount, 200 touchpoints are awarded (with AED 1,50,000 or less as the loan amount)
  • On every AED 1000 of the finance amount, 300 touchpoints are awarded (with AED 1,50,000 or above as the loan amount)

Features of the Personal Loan for Expats

  • The interest rate starts from 6.25% of the loan amount per annum
  • Up to 48 months of repayment tenure
  • The processing fee is 1.05% of the finance amount (minimum amount is AED 525)
  • Up to 1.05% of the finance amount for credit life insurance
  • The early or partial settlement fee is 1.05% of the outstanding amount (AED 10,500 is the maximum amount)

Documents Required

  • Emirates ID
  • Copy of the Passport
  • Salary transfer letter/salary certificate
  • Residence visa of UAE
  • Proof of Address (utility bills, etc.)
  • Bank statement of 3 6 months
  • Copy of the Passport

Involuntary Loss of Employment Cover for ADCB Personal Loan Repayments

In case of loss of employment, ADCB bank provides insurance cover for the personal loan repayment. The key benefits of this insurance include

  1. Coverage of AED 5000 monthly for 6 months or 10% of the outstanding finance amount (the lower amount between the two)
  2. Flexibility in the life span of the finance amount to opt in or opt out.
  3. The cover charges o.1% of the outstanding loan amount per month

Final Verdict

ADCB personal loan provides personal finance to UAE nationals and expats. These personal finances are among the best in the UAE. The ADCB bank also provides insurance cover to cover your personal finance in case of the unfortunate loss of employment. Though the insurance cover comes with a price, it will help you out in case of loss of employment. You can use the ADCB personal loan calculator to check your finance amount. You can also look for other options that can provide you with better insurance coverage.

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