Abu Dhabi Commercial Bank’s (ADCB) rental loan is offered to help customers repay rent in easy equal monthly instalments. The bank also offers personal loans, car loans, smart loans, and mortgage services.
Features and Benefits of ADCB Rental Loan
The benefits and features of the rental loan from Abu Dhabi Commercial Bank are mentioned below:
- Finance up to AED 150,000
- Flexible repayment tenures up to 12 months
- Easy equated monthly instalments
- Quick approvals
- Easy and simple documentation
Fees and Charges of ADCB Rental Loan
The bank charges minimal fees for processing the loan. Here is a list of fees and interest rates applicable for rental loan from ADCB:
- 1% of the finance amount or a minimum amount of AED 500 is charged as processing fee.
- For credit life insurance, up to 1% of the loan amount is charged
- An interest rate of 14% is applicable for properties managed by ADCP
- Around 14%-19% rate of interest is charged for other properties
What Documents are required for ADCB Rental Loan?
Both regular customers and credit cardholders should produce valid documents for the rental loan. The customer must be in possession of the following documents in order to qualify for the rental loan from ADCB:
- For properties managed by ADCB, a minimum income of AED 6,000 is mandatory. This amount is applicable for credit cardholders as well.
- In case of other properties, minimum income of AED 10,000 for regular customers as well as credit cardholders.
- Latest bank statements (at least 3 months)
- Valid passport and visa
- Credit card statement and copy of the front side of the card
- Old rental agreement or booking receipt
- Latest salary slip (original or photocopied)
- Post-dated checks
- One undated security check
Who can Apply for ADCB Rental Loan?
UAE nationals and Expats
How to Apply for ADCB Rental Loan?
The rental loan from ADCB can be applied through:
- Online through the bank’s website
- Call – 8002030 or SMS - RENT to 2626
- Leave your number with the bank’s agent