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Paperless, instant personal loans are now available in the UAE

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Need an urgent loan? The UAE’s Abu Dhabi Commercial Bank (ADCB) announced this week that it is now offering its customers instant paperless personal loans. What’s more is that you don’t even need to visit a branch, as the application is available online from anywhere in the world.

This concept, the bank says, was inspired by its “commitment to help customers with hassle free, paperless transactions” by eliminating the processing period of lending approvals and offering instant credit of funds to a customer’s accounts.

“Applying for a personal loan, most of the time, is an immediate need of funds – usually for personal emergencies or urgent medical treatment,” said Abdul Shakeel Abdul Hameed, head of retail banking at ADCB. “To attend to such instant needs, we have developed this innovative and cutting-edge service. It takes the pain away, and enables our existing customers to receive funds in a hassle free self-service manner.”

So how can you avail of this service? First of all, you need to be a pre-approved customer. You’ll know if you are entitled to a personal loan via an official notification every month on your online banking, informing you about your eligibility to benefit from the instant loan facility.
Following that, all ADCB pre-approved customers – which are assessed according to their profile and credit behaviour history – can log on to their online banking account, complete a three-click application process, after which the personal loan will instantly be credited to their account.

For more information on ADCB, visit our page here.

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