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ADCB Smart Loan

Minimum Salary

5,000 AED

Flat Rate

5.39 %

Reducing Rate

10%

Max. Term

3 Years

Salary Transfer

No

Islamic Finance

No

Description

ADCB Smart Cash Loans is a unique product which enables customers to take advantage of a loan without going through the hassles of assigning the salary to the bank and opening a current or savings account.

Major Advantage: You can earn touchpoints on the finance amount, no salary transfer required

Points to Consider: There is a processing fee

Features

Minimum Salary Requirement: AED 5,000

Reducing Rate: From 10% p.a.

Flat Rate: From 5.39% p.a. (as per 3 years calculation)

Processing Fees: 1% of the finance amount for salaried customers: (Min. AED 500, Max. AED 2,500)

Maximum Finance Amount: AED 150,000

Islamic Finance: No

Maximum Term: 3 Years

Salary Transfer: Not Required

Early Settlement Fees: 1% of outstanding amount

Insurance:  0.75% of the finance amount

Holiday Period:  No

Salaried/Self Employed:  Only Salaried can apply

Other Features: 

  • Interest rate can vary as per the profile of the client
Documents Required
  • Latest salary certificate or Carbonized pay slip.
  • Last 3 months bank statements.
  • Valid Passport & Visa Copy.
  • Emirates ID Copy.
  • One undated security cheque. 
Additional Info
  • All info mentioned can change at any point in time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
  • Reducing rate is converted into Flat rate as per 3 years calculation. 
  • Terms and conditions apply. 
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