ADIB Personal Loans for Expats

Abu Dhabi Islamic Bank offers personal loans tailored for both UAE Nationals and Expatriates, each with its distinct features and eligibility criteria.

Established in May 1997, ADIB is well-known for its comprehensive range of Islamic banking services throughout the UAE. The ADIB personal loan adheres strictly to Shariah principles, ensuring a transparent fee structure and an interest-free borrowing experience.

The ADIB personal loan for expatriates features a reduced profit rate, which decreases as the borrower repays the loan amount. The rate ranges from 6.75% to 20% per annum, offering flexibility and affordability.

Key Features and Benefits of ADIB Personal Loan for Expats

  1. Islamic Finance Compliance: ADIB personal loans are Shariah-compliant, charging no interest. The loan process includes transparent fees and involves charitable contributions.
  2. High Loan Amounts: Expatriates can access substantial loan amounts, up to AED 1 million, making it one of the more generous offers in the UAE market.
  3. No Processing Fee: Unique among many UAE loans, ADIB does not charge a processing fee, allowing borrowers full access to the loan amount without additional charges.
  4. Extended Grace Period: ADIB offers an exceptional grace period of up to 3 months for non-UAE residents, compared to the standard 30-day period offered by most other personal loans.
  5. Payment Postponement Option: Expatriates can postpone their loan payments twice a year, subject to timely monthly repayments and ADIB’s approval.
  6. Additional Benefits:
    • A complimentary ADIB Signature card for one year, offering discounts, promotions, and an extended credit line.
    • A Takaful life insurance policy provides coverage for accidents or certain medical emergencies, ensuring the borrower’s protection.

Eligibility Requirements:

  1. Age Range: Applicants must be between 21 and 60 years old to qualify for the ADIB personal loan.
  2. Minimum Income: A monthly income of at least AED 8,000 is required. Applicants should also have a strong credit score to meet the eligibility criteria.
  3. Employment Experience: A minimum of 6 months of work experience is needed for loan approval.

Documentation Required:

  1. Emirates ID: A valid Emirates ID is mandatory.
  2. Passport: Both the original passport and a photocopy are required.
  3. UAE Residence Visa: A valid residence visa for the UAE must be presented.
  4. Bank Statements: The most recent three months of bank statements are needed to assess financial stability.