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ADIB Boat Finance for UAE Nationals


    Min SalaryAED 10,000
    Salary TransferYes
    Max Finance AmountAED 1,000,000
    Arrangement Fee1%
    Reducing/FlatReducing
    Flat Rate (est. equivalent)From 3.72% p.a.
    Reducing Rate (As Advertised)From 6.75% p.a.
    Early Settlement Fee1%

     

    MAIN BENEFITS

    • Free ADIB VISA Cashback Card
    • Option to postpone two payments per year (for free)
    • No mortgage necessary for finance up to AED 200,000

    OVERVIEW OF FEATURES

    • This finance is sharia-compliant.
    • Finance repayment period is up to 48 months.
    • You require a minimum salary of AED 10,000 per month to be eligible.
    • It is a requirement to transfer your salary to apply.
    • The arrangement fee is 1% of the finance amount (min AED 500 and Max AED 2,500).
    • 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.
    • Takaful cover is 1.25% of the finance amount. Takaful is optional.
    • The rate is 6.75% calculated on a reducing balance. The rate varies depending on customer salary and whether the salary is transferred to the bank or not.
    • The reducing rate of this finance is 6.75% and the equivalent flat rate is 3.72%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
    • This rate is calculated on a reducing balance.

    ADIB - Dubaisavers

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