• Arab Bank Personal Loan

    Arab Bank Personal Loan

    Arab Bank Personal Loan helps you meet your personal loan requirements. The personal loan is flexible, easy to avail and offers a wide range of benefits. The loan offers competitive rates and flexible tenure periods.

    Features of Arab Bank Personal Loan

    Listed below are the features of Arab Bank personal loan.

    • The personal loan can be utilized for any kind of personal expense.
    • Rate of interest: Offers competitive rate of interest
    • Tenure period: Offers a high tenure period of up to 4 years
    • Flexible repayment option: Offers a very flexible repayment option on the repayment of the loan
    • Grace period: The cardholder can avail a grace period of up to 45 days
    • The loan is granted very quickly
    • Speedy processing
    • Dedicated sales team to serve the customer
    • Can be applied for online

    Benefits of Arab Bank Personal Loan

    Listed below are the benefits of Arab Bank personal loan.

    • Competitive rate of interest: The loans are granted at a very low rate of interest
    • High loan amount: Offers high loan amount up to AED 550,000
    • High tenure period: The loan offers a high tenure period of up to 4 years
    • Speedy processing and loan approval: The loan is processed and approved very quickly
    • Loan buy out facility available with Arab Bank personal loan
    • Minimal documentation
    • The loan can be applied for online

    Fees and Charges involved with Arab Bank Personal Loan

    The below table shows the schedule of fees and charges involved with Arab Bank UAE personal loans

    Type of Charge Amount
    Processing fees for availing new loans The fee is 1% of the loan amount availed and has a minimum fee of AED 500 with a maximum fee going up to AED 2500
    Processing fees for top-up of existing loans The fee is 1% of the loan amount availed and has a minimum fee of AED 500 with a maximum fee going up to AED 2500
    Penalty interest levied on delayed payments Penalty interest levied is 2% of the amount due and has a minimum penalty amount of AED 50 and a maximum penalty amount of AED 200
    Fees for deferment of an instalment Each instalment deferred attracts a fee of AED 100
    Early Settlement charges from same bank loans The charge is 1% of the remainder of the balance
    Early Settlement charges from other bank loans The charge is 1% of the remainder of the balance
    Early Settlement charges from EOSB The charge is 1% of the remainder of the balance
    Fees for rescheduling of the loan The fee is AED 250
    Fees for cancellation of the loan The fee is AED 100
    Partial payment inclusive of EOSB and all other sources The charge is 1% of the partial payment

    Eligibility criteria of Arab Bank Personal Loan

    Listed below is the eligibility criteria for Arab Bank Personal Loan

    • Any UAE resident with a valid resident VISA
    • The applicant should be earning income
    • The applicant should be able to provide the documents required for the loan approval

    Fee & charges of Arab Bank Personal Loan

    • Rate of interest: 5.49% p.a.

    About Arab Bank

    Arab Bank is one the largest banks in Middle East. The bank was founded in 1930 as the first private sector financial institution in Arab. The bank has a wide spread network in UAE with branches all over UAE. The bank offers financial products and services such as loans, accounts, credit cards, elite banking services and much more.

    Frequently asked questions- Arab Bank Personal Loan

    1. What is the grace period granted for the loan?
    2. A grace period of up to 45 days is granted for Arab Bank personal loan

    3. What is the highest tenure period offered?
    4. A tenure period of maximum 4 years is offered on the personal loan

    5. How can I apply for the loan online?
    6. The customer can fill the application form available online on the bank's website in order to apply for the loan.

    News About Arab Bank Personal Loan

    • Arab Bank Registers Net Operating Income of $1.1 Billion in 2015

      Arab Bank has declared a net operating income of $1.1 billion in 2015. Its net income after tax and provisions stood at $442 million, down from $557 million the previous year. This decline was because the bank had to make legal provisions of $349million after a settlement agreement without any admission of wrongdoing and favourable to the bank over a legal case filed against it in New York 11 years ago.

      However, the underlying performance of the bank remained strong in 2015, with loans and advances – excluding foreign currency devaluation – increasing by 3 percent to $23.8 billion. Arab Bank’s customer deposits also rose by 3 perent to $35.2 billion. The capital adequacy ratio was at 14.2 percent, loan-to-deposit ratio was at 67.6 percent, and cost-to-income ratio was at 42.3 percent. The total Group equity stood at $8 billion. Despite difficult conditions in the region, the ratio of non-performing assets to gross loans was at 4.8 percent.

      09th February 2016

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