|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|ADIB - Travel Finance for Expats||Minimum Salary: AED 8,000||Salary Transfer: Yes||Islamic Finance: Yes||Maximum Term: 4 Years||Flat Rate: 3.85%||Reducing Rate: 6.99%|
Looking to plan your next trip? Whether its Hajj, Umrah, or a family vacation, ADIB Travel finance makes traveling an absolute pleasure.
- No installments for the first three months
- Free ADIB VISA Covered Card
- Option to postpone two payment per year (for free).
- The reducing rate of this finance is 6.99% and the equivalent flat rate is 3.85%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
- Original and copy of valid passport (with valid residence visa for expatriates)
- Original and copy of valid Emirates ID
- Bank account statement (last 3 months)
- Age Criteria 21-60 years
- The arrangement fee is 1% of the finance amount (min AED 500 and Max AED 2,500).
- Takaful cover is 1.25% of the finance amount. Takaful is optional.
- 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.
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.