Being a veteran bank in UAE, Abu Dhabi Commercial Bank (or more commonly known as ADCB) tries to provide services that cover all necessities of life to its customers. Since a lot of foreigners residing in the UAE, this bank also takes them into account while offering services. That is why, ADCB personal loans are not only limited to the native residents of UAE, but also to the expatriates.
Adcb also provides credit cards along with the loan. Moreover, native residents are provided with 3 times salary overdraft while expatriates are allowed 2 times salary overdraft. You just need to be a resident of the UAE with a minimum salary of AED 5000 to qualify for the loan.
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Personal Loans are frequently used in the UAE to meet short term financial needs. For expenditures like traveling tickets, college fees, weddings usually UAE residents prefer to take personal loans rather than using credit cards. UAE banks offer a personal loan on two terms i.e. reducing rates and flat ones.
One needs to select carefully the one that is convenient in terms of repayment. One of the most prominent names in this market is of Abu Dhabi Commercial Bank.
There are multiple available options for personal loan. Their interest rates vary according to the type of loan. Following are some of the types with their specifications of ADCB personal loans.
| Loan Type | Minimum Salary | Reducing Rate | Early Settlement Fee | Flat Rate | Loan Amount | Arrangement Fee |
| Islamic Banking Personal Finance for UAE Nationals | AED 10k | 4.75% | 1.05% | 2.6% | AED 4000k | 1.05% |
| Salam Personal Finance for Expats | AED 5k | 4.75% | 1% | 2.61% | SED 1500k | 1% |
| Smart Finance | AED 5k | 16.99% | 1.05% | 9.3% | AED 200k | 1.05% |
| Smart Loan | AED 8k | 10% | 1% | 5.51% | AED 400k | 1% |
| Rental Finance | AED 6k | 14% | 1% | 7.71% | AED 150k | 1% |
| Personal Loans for UAE Nationals | AED 10k | 5.25% | 1.05% | 2.89% | AED 4000k | 1.05% |
| Personal Loans for Expats | AED 5k | 8.6% | 1.05% | 4.75% | AED1500k | 1.05% |
| Education Finance | AED 8k | 10% | 1% | 5.51% | AED 250k | 1% |
| Education Loan | AED 8k | 10% | 1% | 5.51% | AED 250k | 1% |
Abu Dhabi Commercial Bank (ADCB) Personal Loan Options
Abu Dhabi Commercial Bank (ADCB) is one of the leading banks of Abu Dhabi which provides many different types of loans with the transparency of information regarding the details and repayment of the loan. There are many different products offered by the ADCB in terms of loans that are including;
Personal Loan for UAE Nationals
Personal Loan for UAE Nationals is the kind of loan which is provided only to the UAE citizens which offer very attractive interest rates with the flexible repayment period. The criteria of this load are 5.25% starting rate of interest yearly, there is up to 3X salary overdraft provided with flexible criteria and also offered the 200 touch points when every AED 1000 of the loan amount.
Key benefits:
Multiples of high salary, best interest rates on the basis of competition, availability of load consolidation, fast and easy documentation, facility of credit life insurance, cover loss of employment, the free credit card provided and last but not least more than 3 times of overdraft on salary.
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Personal Loan for Expatriates
There is the second type of personal load is known as the Personal Loan for Expatriates which offers only for the people who are an outsider from different countries. This type of loan is design to develop the products and services provided to all members of a different community. This loan facilitates the expatriate residing in the UAE with more flexible and low-cost loan packages. This loan starting yearly from 6.25% interest rate, which offers more than 2X salary overdraft and 2000 touch points of AED 1000 of amount on loan.
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Key benefits:
Multiples of high salary, best interest rates on the basis of competition, availability of load consolidation, fast and easy documentation, facility of credit life insurance, cover loss of employment, the free credit card provided and last but not least more than 3 times of overdraft on salary.
Involuntary Loss of Employment Cover for ADCB Personal Loan Repayments
The last type of personal loan is Involuntary Loss of Employment Cover for ADCB Personal Loan Repayments which is the more attractive type of load and this is important for everyone mostly for those are employees working in private companies and their job is not secure they can loss their job any time there is no certainty in life. This type of loan covers 10% of your load outstanding with 6 months of coverage period and there are 0.1% of monthly fees charged on the loan outstanding.
Key Benefits:
Covers the lowest interest rate which is 10% of the loan outstanding or has to pay for 6 months of period AED 5000 whichever are lower in terms of involuntary job loss.
Covers the lowest interest rate which is 10% of the loan outstanding or has to pay for 6 months of period AED 5000 whichever are lower in terms of involuntary job loss.
There is flexibility with the loan in terms of life’s circumstances whenever it feels that there is no further need for it, can quit at any time.
This covers very affordable charges on a monthly basis with only 0.1% of loan outstanding which is easy to pay while in every month during the period of the loan.
Other Types of Loans:
Adcb offers these loans as well:
- Car Loans: for new or pre-owned cars
- Standard Mortgage Loan: lets you buy your own home
- Mortgage Home Saver: lets you save on interest and repay loans faster
- Mortgage Overdraft: provides overdraft facility against the available equity of your home
ADCB Loans Features:
- Both Nationals and Expatriates get free life insurance with the loans.
- Both Nationals and Expatriates get free credit card with the loans.
- Debt consolidation facility available.
- Flat and reducing interest rates available
- Loan rescheduling facility available for AED 250.
- Installments can be deferred for AED 100 per deferment.
Good Day,
I am Mary Grace delos Reyes, I have bank loan in ADCB dubai branch 12 years ago i am not able to pay it since i am jobless, I want to know what is the status of my loan and what can i do to settle it since i have opportunity to go back.
Thank you and i am waiting for your immediate response about this matter.