ADIB Boat Finance for UAE Nationals

Investing in a boat is a substantial financial decision, and it should be a well-thought-out one. Moreover, one needs to have the serious financial muscle to make it a reality. On the brighter side, it will be a great holiday destination and hosting parties, apart from boasting about it.

So, if you have plans to make this investment, then instead of liquidating all your savings, opt for easy financing options like ADIB boat finance for UAE nationals.

ADIB has curated a tailored financial product to help you realise your dream of owning a boat. This financial product will support your purchase, along with any other additional costs. In addition, the favourable loan terms and flexibility in repayment offer a pleasant borrowing experience.

ADIB Boat finance for UAE nationals

• Minimum Salary AED 8,000
• Monthly Payment AED 2,245
• Flat Rate 3.72%
• Reducing Rate 6.75%

• Salary Transfer
• Islamic Finance

 

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Features and benefits of ADIB Boat finance for UAE nationals

The highlighting features and benefits of this financial product are mentioned below:

• Substantial loan amount  - The loan amount sanctioned by ADIB for this purpose for UAE nationals can go as high as AED 3 million.
• Flexible postponement and first instalment holiday - ADIB facilitates a loan instalment holiday of 120 days (maximum) for the first instalment payment. Besides, one can postpone his/her instalment payments up to two times per year. 
• Reasonable profit rates  - Boat Finance from ADIB is available at affordable profit rates. This includes a flat rate and a reducing rate of 3.72% and 6.75%, respectively.
• Zero processing fee  - The processing fee on the personal loan from ADIB for purchasing a boat does not entail any processing fee. Thus, the total cost of borrowing lowers.
• Flexible repayment option- Here you have the liberty to pay off your dues within 48 months.
• Reasonable early settlement fee - The early settlement fee of boat finance from ADIB is 1% of the total remaining loan amount.
• Optional Takaful Coverage - In case of death, terminal illness, or permanent total disability, the Takaful coverage comes in handy. It offers financial coverage of up to 1.25% of the total loan amount in such scenarios. This is an optional facility that you can opt for if needed.

Income Salary for ADIB Boat finance for UAE Nationals

To secure the necessary credit for the boat purchase, your nominal salary should be AED 8,000.

Interest Rate for ADIB Boat finance for UAE Nationals

The interest rate for UAE nationals for boat finance is a flat rate of 3.72% or a reducing rate of interest of 6.75%

Eligibility criteria for ADIB Boat finance for UAE Nationals

To get a personal loan in UAE, you need to fulfil the following eligibility parameters –

1. Be a native of the UAE
2. The minimum age should be 21 years, and the maximum age time of maturity should be 65 years
3. Salary transfer is compulsory
4. Your employer should be on the approved list of ADIB

Documents required for ADIB Boat finance for Expats

To secure an ADIB personal loan for buying a boat, you need to submit the following documents –

• Original as well as photocopy of a valid Emirates ID
• Original as well as photocopy of a valid passport
• Bank statement of three months (if salary income is not credited to Abu Dhabi Islamic Bank)
• Salary certificate and boat quotation to be addressed to ADIB·
• Boat quotation in the name of ADIB from the seller

Application Process of ADIB Boat Finance for UAE Nationals

With the following procedures, it is easy to opt for boat finance from ADIB –

Online Mode - ADIB facilitates a quick, hassle-free and secures online application procedure for its customers. Here is a step-by-step guide on the application process of the same –

• Step 1: Go to the official website of ADIB
• Step 2: Go over to the ‘personal’ drop-down menu and hover over the ‘finance’ option
• Step 3: Choose boat finance and proceed to the next page
• Step 4: Crawl down to the end of this page and find the online application option
• Step 5: Click on it and head over to the application form
• Step 6: Duly fill-up the form with the required details and click on ‘submit request’

After that, follow the instructions mentioned on that page to complete the application process.

Offline Mode - You can book an appointment with a nearby ADBI branch to avail of their loan amount directly. All ADIB branches provide priority service for senior citizens as well as people of determination. 

After submission of the filled-in loan application form and the relevant documents, ADIB will quickly approve the finance amount. Once it is approved, applicants can complete the remaining formalities to meet their needs. 

The ADIB Headquarters address:

• HQ Address: Sheikh Rashid Bin Saeed St (Old Airport Road) opposite Hilton Capital Grand Hotel.
• Phone Number: 600543216

Key Takeaways

With the ADIB boat finance for UAE nationals, you can now purchase a boat without any hassle. However, before moving ahead, go through the loan terms and conditions to avoid future troubles.