Abu Dhabi Islamic Bank (ADIB) is an Islamic Banking organization that takes pride in providing excellent Shariah-compliant financial services and products.
The ADIB personal loan is an example of a complete Shariah-compliant loan. ADIB personal loan aids in meeting the major financial needs, without having to submit collateral while availing the loan.
The ADIB loan can be availed in two categories:
- ADIB Personal Loan for UAE Nationals
- ADIB Personal Loan for Expats
ADIB Personal Loan Interest Rate
Abu Dhabi Islamic Bank personal loans charge a reducing balance interest rate. A reducing ADIB personal loan interest rate decreases every time the loan borrower pays an installment.
| ADIB Personal Loan | ||||
|---|---|---|---|---|
| Type of Loan | Maximum Loan Amount | Tenor | ADIB Personal loan Interest Rate | Type of Interest Rate |
| ADIB Personal Loans for UAE Nationals | AED 3 Million | Up to 48 months | 6.75% – 20.00% p.a. | Reducing |
| ADIB Personal Loans for Expats | AED 1 Million | Up to 48 months | 6.75% – 20.00% p.a. | Reducing |
*Interest Rates are subject to change any time.
ADIB Personal Loan Eligibility Criteria
The ADIB loan eligibility criteria are nearly the same for Emiratis and expats. These ADIB personal loan requirements are as follows:
Age Eligibility
The minimum age eligibility to apply for ADIB loan is mentioned below:
- For Expats: Minimum-21 years/Maximum-60 years
- For UAE Nationals: Minimum-21 years/Maximum-65 years
Though the age limit can vary from bank to bank, it should be met to apply for a Personal loan in UAE.
Minimum Salary Requirement
The loan applicant is expected to meet the Abu Dhabi Islamic Bank personal loan minimum salary requirement. The ADIB Bank personal loan minimum salary requirement for both expats and UAE Nationals is AED 8,000.
Work Experience
The work experience required for availing ADIB personal loan slightly differs for expats and Emiratis. ADIB eligibility for UAE Nationals requires the Emirati applicant to have a confirmed job or a minimum of 3 months’ work experience. The expats required to have either a confirmed job or a minimum of 6 months’ work experience.
ADIB Personal Loan Documents
In order to avail ADIB Loan, the following documents need to be furnished:
| Documents | Category | |
|---|---|---|
| Passport | Expatriates | UAE Nationals |
| Original and photocopy of PassportValid residence visa | Original and photocopy of Passport | |
| Emirates ID | Only for Emiratis | Original and photocopy of Emirates ID |
| Bank Account Statement | 3 months bank statement | 3 months bank statement |