Fixed Rate Loan

• Rate locked for entire tenor
• Starting from 99% p.a. up to 19.99% p.a. reducing balance
• Annual Percentage Rate (APR): 48%–20.99%

Variable Rate Loan

• Based on 3-month EIBOR + Margin, subject to a Floor Rate
• Example: If 3M EIBOR is 0.35% and margin 4%, Floor Rate 5% ⇒ effective rate = 5%
• APR varies in line with EIBOR fluctuations

Fees & Charges

• Processing Fee:
  • 75% of loan amount (min AED 500)
• Life Insurance: Mandatory; premium EMI-financed
• Early Settlement Fee: 5% of outstanding balance for ADCB loans; 5% for buy-outs
• Partial Prepayment Fee: 5% of prepaid amount
• Late Payment Fee: AED 50 flat charge per overdue installment
• Loan Cancellation Fee: AED 50 – 105 depending on channel
• Rescheduling Fee: AED 105 per request
• No-Liability Letter: AED 52.50

Eligibility Criteria

• Age: 21–65 years (nationals), 21–60 years (expats) at loan maturity
• Salary: Minimum AED 5,000/month transferred to ADCB Current Account
• Employment:
  • Nationals: Any reputed employer
  • Expats: Employer listed or eligible with ADCB
  • Minimum 6 months with current employer
• Credit: Clean credit history; ADCB may require life insurance cover
• Account Relationship: Salary transfer mandatory