Abu Dhabi Islamic Bank personal loans are based on the Islamic concepts of banking. These personal loans are available in two variants, namely, for UAE nationals and for expatriates. Although these loans confirm with the Sharia principles of banking, they are offered to customers from all sections of the society.
- ADIB Personal loan for UAE nationals
- ADIB Personal loan for Expats
Whether it is a wedding in the family or an exotic vacation or house renovation, Ab Dhabi Islamic Bank personal loans make sure you never have to think twice before spending on your loved ones or on their dreams. Any major spending needs to be planned in advance but not now; with ADIB personal loans you can fulfil your wishes instantly and can then pay in a relaxed way via monthly repayment option.
You’re probably eligible for ADIB Personal Loan if you are
At least 21 Years old
Salaried / Self – Employed
with regular income
Earn more than the minimum income required
Your ADIB Personal Loan amount eligibility is based on these factors
Minimum income required
AED 8000 per month
Maximum allowed personal loan is AED 3,000,000
EMIs of other loans lower your eligibility
Increase your eligible ADIB Personal Loan amount by these steps
Pay off your credit card bills
Choose longer tenure loan up to 4 Years
Documentation needed to apply for ADIB Personal Loan
- 1. Original passport (with valid residence visa for expatriates)
- 2. Salary certificate (not more than 30 days old)
ADIB Personal Loan Interest RatesUpdated on 28 Oct 2016
|Loan amount (in AED)||Salary transfer (in %)||Non-salary transfer (in %)||Debt settlement (in %)|
|5,000 – 50,000||7.25 – 18||16 - 18||6.75 – 9.99|
|51,000 – 100,000||7.25 – 18||16 - 18||6.75 – 9.99|
|100,001 – 200,000||7.25 – 10.49||16 - 18||6.75 – 9.99|
|Above 200,000||7.25 – 10.49||16 - 18||6.75 – 9.99|
About ADIB Personal Loan
Personal financing by Abu Dhabi Islamic Bank (ADIB) is a convenient and quick way of getting extra cash in times of crucial need. Abu Dhabi Islamic Bank is a major bank in UAE with over 70 branches in the country. The bank specializes in Sharia-compliant banking and financial solutions and has a full-fledged online banking portal as well as a popular phone banking application.
The bank was founded in the year 1997 as a public joint-stock company and it began its commercial operations in the year 1998. Since then, driven by various mergers and partnerships, the bank has grown successfully in UAE. In 2011, the bank went on to win first place in terms of customer service.
Why Abu Dhabi Islamic Bank Personal Loan?
Following are the main factors due to which ADIB Personal loans are preferable in comparison to other personal loans.
Minimum Documentation: ADIB’s personal loans require minimum documentation and have a quick turnaround time.
Attractive Rate of Interest: The rate of interest offered on ADIB personal loans is extremely competitive.
Easy Repayments: The repayment of ADIB personal loans can be done either through cheques or through online EMIs both of which are extremely easy to track and pay.
Optional Insurance: You can opt for Takaful protection scheme to cover the entire personal loan amount against death or permanent disability.
Installment postponement: Postpone your installments for the first 3 months without paying any penalty charges. Get up to 2 free installment postponements each financial year.
Free credit card with ADIB personal loan: Avail a free ADIB credit card with every ADIB personal loan.
Features of ADIB Personal Loan for UAE Nationals
- This personal loan by ADIB is an easy and quick loan
- This loan does not require a guarantor
- ADIB charges a nominal processing fee for this personal loan
- Higher loan amounts to cover all your financial needs
- Flexible loan tenures
- The monthly installments are low and fixed
- Free visa cashback credit card is offered with this personal loan scheme
- Up to two installment postponements per year are allowed
- Optional takaful protection scheme to secure your loan against unfortunate events like death and permanent disability
- Avail installment holiday for your first installment; for up to 90 days
- Only UAE nationals can apply for this loan
- Salary transfer is required for availing this loan
- The processing fee for the ADCB personal loan is minimum
- A personal loan guarantor is not required for availing this loan
- Loan approval is fast and simple
Other specifications of ADIB Personal Loan for UAE nationals
Min Salary required – AED 5,000 per month
Processing Fee – 1% of the personal loan amount sought
Maximum loan amount – AED 3,000,000. The sanctioned personal loan amount depends upon the salary of the applicant
Salary Transfer required – Yes. To avail this personal loan.
Loan repayment period – up to 48 months
Early loan settlement fee – 1% of the outstanding personal loan amount
Benefits of ADIB Personal Loan for Expats
Following are some of the distinct features of the ADIB personal loan scheme for expats:
- Low repayments, nominal processing fee and insurance protection are some of the prominent features of this personal loan.
- An optional Takaful insurance comes packed with this finance scheme. This can be availed to ensure protection against unforeseen circumstances such as death or permanent disability of the primary borrower.
- The rate of interest is calculated on a reducing basis and is also subject to factors like customer’s salary and whether that salary is transferred to the bank.
- This loan scheme also comes with a free cash back credit card for the borrower
- Option to postpone installments for the first three months of the loan tenure
- Salary transfer to the bank is compulsory
- Up to two free installment postponements every year is granted to customers
- Free visa cashback credit card comes with this personal finance scheme
Key Features of ADIB Personal Loan for Expats
- This Islamic Personal loan is available to UAE expats who earn at least AED 5, 000 per month
- A penalty fee of 1% of the outstanding amount is charged in case the borrower chooses to pay off the loan earlier than the agreed time period
- This service offers the applicant, a loan of up to AED 1,000,000
- The personal loan tenure offered is up to 4 years
- Processing fee is 1% of the personal loan amount sought
Eligibility Criteria for ADIB Personal Loans:
Min Salary required – AED 5,000 per month
Nationality – UAE Nationals or Expats with valid IDsOther Products from ADIB Personal loan
ADIB Personal Loan FAQs
- What can the ADIB Personal loan be used for?
- Does ADIB offer personal loan to expats?
- What is the eligibility criteria?
- What is the length of service required?
- What is the minimum income requirement?
- What are the interest rates offered on ADCB Salary Transfer Personal Loans?
- What is the minimum interest rate charged on salary transfer personal loans?
- What is the minimum interest rate charged on Non-salary transfer personal loans?
- Is there any processing fee charged?
- What is the tenure offered for ADIB personal loan?
- Is salary transfer required?
- What is the maximum loan amount offered to the borrower?
- What are the benefits of taking ADIB Personal Loan?
- What are the documents required?
- Is there any instalment payment holiday?
ADIB Personal loan can be used to renovate your home, fund your wedding or to educate your child or to clear off the huge debt.
Yes, personal loans are offered to expats as well as UAE Nationals.
The applicant must be either salaried or self-employed. The minimum age requirement is 21 years and the maximum age for UAE Nationals is 65 years and for Expats it is 60 years.
The UAE Nationals must be confirmed employee or must’ve worked for 3 months. Expats must be confirmed or must’ve worked for 6 months.
The applicant must have a minimum requirement of AED5000 per month.
The interest rates offered on ADCB Salary Transfer 7.25% to 10.49%.
The minimum interest rate offered on salary transfer personal loans is 7.25%.
ADIB charges a minimum amount of 16% on Non-salary transfer personal loans.
Yes a processing fee is charged at 1% of the loan amount.
ADIB Personal Loan tenure is 4 years.
Yes salary transfer to the bank is compulsory.
The maximum loan amount offered is up to AED1,000,000.
ADIB debt settlement facility is offered. Borrower also gets a free ADIB Job Loss Protection and Free ADIB Visa Cashback card.
The borrower will have to submit the original and a copy of the valid passport if he is an expat. Emirates ID original and copy must be submitted last 3 months bank account statement should also be submitted.
First instalment holiday is offered for up to 90 days.
News About ADIB Personal Loan
Abu Dhabi Islamic Bank launches its new and revamped website
Abu Dhabi Islamic Bank (ADIB) recently launched its new and revamped websites that makes banking easier for its customers. The new and revamped website offers tools, calculators, unique features, informative educational videos. The new interface was designed with the aim of making banking easier and simpler for its existing and new customers. ADIB’s mobile banking app attracted a 54% increase in the new users in the first 9 months of 2015.
12th November 2015
$750 Million Repaid by ADIB towards Sukuk
Abu Dhabi Islamic Bank (ADIB) has displayed its comfortable liquidity standing and financial strength by repaying $750 million Sukuk. The whole amount was paid in full from the bank’s own sources, demonstrating how strong the bank is in the financial sense of the work. The repayment was released in the first week of November, 2015, and the five-year Sukuk was estimated at almost five times oversubscribed when issued on the 1st of November, 2010, at a profit rate of 3.745%. This profit rate was among the lowest recorded for a five-year service by a GCC bank.
09th November 2015