ADCB personal loan interest rates are categorized according to the amount of loan requested. The interest rates are applicable as:
|Loan amount||Interest rate range|
|AED 0 to AED 50,000||4.99% to 13.99%|
|AED 50,001 to AED 100,000||4.99% to 13.99%|
|AED 100,001 to AED 200,000||4.99% to 13.99%|
|Above AED 200,000||4.99% to 13.99%|
Overview of ADCB personal loan
ADCB offers flexible and low cost loans to customers including UAE nationals as well as expatriates. The bank is known for its amazing personal loan offers and is among the top choices for borrowers in the UAE. The loans require simple documentation and offer higher amounts at longer repayment tenors. The bank also offers credit life insurance along with the loan to protect your dependents in case anything unfortunate happens to you.
How to calculate EMI on your ADCB personal loan
Calculating the EMI on your ADCB personal loan can be a tedious task if doing manually. You can still do it but you will be limited when making different permutations for the loan-interest combo. The best option here is to use an online EMI calculator available online from a variety of aggregator and other portals. The EMI can be calculated with a few simple selections and clicks.
A typical EMI calculator will have fields for entering loan tenure, loan amount, interest rate and processing fees. On entering the details, you will get the monthly EMI figure as well as amortization details in some cases. This calculator gives you the flexibility to choose different amounts and tenures to find the EMI figure you are most comfortable with.
Factors affecting ADCB personal loan interest rates
The factors given below affect ADCB personal loan interest rates:
- Income: The income of the applicant is taken into consideration when deciding the loan amount as well as interest rate. Higher income usually signals a lower interest rate.
- Credit history: A good credit history can help an applicant get lower interest rates as it is a mark of good financial management by the applicant.
- Employment history: Applicants in a stable job at large companies tend to get preferential interest rates.
- Loan tenure: The tenure for which you have requested the loan also affects the interest rate quoted to you. Higher tenures can help you get preferential rates.
Key things to know about ADCB personal loan interest rates
- Higher salary multiples.
- High repayment periods allowing you to plan the repayment better.
- Competitive interest rates.
- Credit life insurance is available that provides an added layer of financial security for your dependents.
- Easy and hassle free documentation and application process.
- Loan consolidation is possible.
- Complimentary ADCB credit card with a personal loan.
- Available for both UAE nationals and expats.
- Up to 2 times of salary overdraft can be requested.