Thursday, 12 March 2015

ADIB Debt Settlement for Expats

Great For
  • Low salary requirement.
  • High finance amounts.
     
    The Basics
    AED 5,000 Min Salary
    Reducing Reducing/Flat
    from 3.26%
    Flat Rate
    (est. equivalent) ?
    from 5.99%
    Reducing Rate
    (As Advertised) ?
    1% Upfront Fee
    AED 1,000,000 Max Finance Amount
    1%
    Early Settlement Fee
    Yes Salary Transfer

    Main Benefits
    Flexible repayment options, High finance amount, No installment for the first three months, Free cashback covered card for the first year, Option to postpone two payment per year (for free).
    Overview of features
    • You require a minimum salary of AED 5,000 per month to be eligible.
    • This rate is calculated on a reducing balance
    • The reducing rate of this finance is 5.99% and the equivalent flat rate is 3.26%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only
    • The rate is 5.99% calculated on a reducing balance. The rate varies depending on customer salary and whether the salary is transferred to the bank or not.
    • The arrangement fee is 1% of the finance amount (min AED 500 and Max AED 2,500).
    • Finance repayment period is up to 48 months.
    • The early settlement fee is applied as per UAE Central Bank policy, which is 1% of the outstanding amount (principal + profit) to date, or AED 10,000, whichever is lower. The bank has the discretion to waive any or all of the total outstanding profit.
    • It is a requirement to transfer your salary to apply.
     

No comments:

Post a Comment