^FAQ Answers to the most
frequently asked questions.

All salaried UAE residents (UAE Nationals and Expatriates) earning sufficient income from a reputed employer, which is already listed with ADCB or is eligible for listing with ADCB, are eligible to apply for an ADCB Islamic Banking Personal Finance. The applicant must be aged 21 and above to be eligible for a Personal Finance from ADCB Islamic Banking.

A monthly fixed salary of AED 5,000 or above.

You do not need to have an Account or be an existing Customer of ADCB Islamic Banking to take a Personal Finance. However, should you wish to do so, it will be mandatory to open a Current Account with ADCB Islamic Banking and to transfer your salary to this Account, which will then also be acting as your Personal Finance Repayment Account. An existing Savings Account from ADCB Islamic Banking will not be accepted as a Personal Finance Repayment Account.

There are multiple convenient ways to apply for an ADCB Islamic Banking Personal Finance.

If you are an existing ADCB Islamic Banking Customer, simply apply online through our ADCB Mobile Banking Mobile App or ADCBIslamic.com website, or visit any of our ADCB Branches. Alternatively, you may also simply call our ADCB Contact Centre on 600 56 2626 for one of our dedicated Personal Finance relationship managers to further assist you with your requirement.

If you are new to ADCB Islamic Banking, simply apply online through our ADCB Hayyak Mobile App or ADCBIslamic.com website, or visit any of our ADCB Branches. Alternatively, you may also call our ADCB Islamic Banking Contact Centre on 600 56 2626 for one of our dedicated Personal Finance relationship managers to further assist you with your requirement.

The maximum finance amount is AED 4,000,000 for UAE Nationals and AED 1,500,000 for Expatriates. The minimum finance amount is AED 15,000 for both. However, please note that the maximum finance amount could vary according to Customer salary, credit score and other financial factors affecting the Personal Finance eligibility.

Currently, ADCB Islamic Banking offers Personal Finance under Fixed Rate, in this arrangement ADCB and Customer agrees the profit rate / profit amount upfront for the entire finance period.

Personal Finance is offered under Commodity Murabaha structure. Murabaha is a cost plus profit sale whereby the underlying commodity is first purchased by the Bank and subsequently sold to Customer for a consideration of cost price (which is equal to the finance amount) plus profit amount (Murabaha Sale Price). Customer will be required to pay the Murabaha Sale Price in installments over the tenor of financing pursuant to the terms of Murabaha finance contract. Upon conclusion of Murabaha, Customer or agent of Customer will have to sell the underlying commodity in order to obtain sale proceeds and use for liquidity purposes.

Yes, life Takaful (insurance) is a mandatory requirement to apply for a Personal Finance from ADCB Islamic Banking. As an added convenience, ADCB Islamic Banking does offer a competitive life Takaful to Personal Finance Customers.

Please visit the ADCB Islamic Banking Schedule of Fees on Charges & Fees - Personal Banking

Yes. ADCB Islamic Banking has obtained a group life policy cover for all its Personal Finance Customers at very competitive rates which covers death and total disability.

Yes, you may partially or fully repay your Personal Finance at any time. However, ADCB Islamic Banking may charge an early settlement fee each time you make additional repayments. Please visit the ADCB Islamic Banking Schedule of Fees on Charges & Fees - Personal Banking for the current early settlement fee structure.

Yes, it is a mandatory requirement to transfer your Salary income and end of service benefits/gratuity to ADCB Islamic Banking. A Salary Assignment Letter is also required from the employer as a commitment for continuous Salary transfer to ADCB Islamic Banking Account. However, ADCB Islamic Banking may offer additional benefits to Customers who are willing to transfer their income to ADCB Islamic Banking such as reduced profit rates, discounts, etc. on other banking relationships.

UAE Residents can take a Personal Finance for a maximum period of four (4) years. However, please note that at the time of maturity, the maximum Finance tenor should not cross 60 years of age for Expatriates, and 65 years of age for UAE Nationals.

Profit amount is calculated based on agreed profit rate upfront at the time of execution and collected from Customers during the finance tenor as part of each installment on a monthly basis along with your finance amount as per standard amortisation in accordance with UAE Central Bank directives and pursuant to the terms of Personal Finance documentation.

Your first monthly repayment towards your Personal Finance (EMI*) is due any time after finance disbursal based on the Grace period you have selected in the Finance Application Form or communicated over email or calling the ADCB Islamic Banking Call Centre or otherwise.

*EMI – Equal Monthly Instalment

You may obtain this information by logging into your ADCB Banking or ADCB Mobile Banking Mobile App or you may also visit any of our ADCB Branches for one of our dedicated customer service representatives to assist you with your requirement.

In order to be eligible to request a Payment Deferral, you must have previously paid at least six consecutive monthly payment installments of the finance in full. ADCB Islamic Banking generally allows up to two (2) deferments in a calendar year for Personal Finance installment payments as per the applicable Terms & Conditions as part of the ADCB Islamic Banking Policy.

For more details on fees and charges please click here.

For more details on terms and conditions please click here.

Having a valid residency is an important finance condition. If you lose your residency, it will be an event of default under your finance terms and it will be a Termination Event. You are requested to visit any of our ADCB branches or contact our 24-hours Call Centre on 600 56 2626, prior to leaving the UAE. You need to settle the outstanding finance amount along and applicable Charges on your Personal Finance.

Yes, you may do this by submitting fresh financial documents (i.e. Statement of Account, income statements, etc.), and it will be subject to ADCB Islamic Banking’s approval. A rescheduling fee may apply.

You may initiate the settlement process by visiting any ADCB branches and signing the liability letter request. After obtaining the liability letter, you may settle your Personal Finance by depositing the outstanding finance amount along with the early settlement fee in your salary Current Account with ADCB Islamic Banking and signing the Finance closure request at any ADCB branch.

Yes. You may do so by taking the Personal Finance top-up. This will require fresh eligibility assessment and documentation. Please also note that you may typically apply for top up after paying 12 EMIs unless you have initially applied for lower than the maximum allowed eligibility on your existing Personal Finance or if your income has increased since applying for the previous Personal Finance.

Yes, ADCB Islamic Banking offers short-term Personal Finance for all your small and short-period financing needs. This programme offers lower profit rates compared to the standard Personal Finance programme and simpler documentation requirements such as no Salary Assignment Letter required for existing Customers already transferring their salary to ADCB Islamic Banking Account.

Yes. You may do so by applying for the Personal Finance buyout offer from ADCB Islamic Banking. ADCB Islamic Banking offers a complete settlement of your existing finance with other bank in a direct and hassle-free manner and you may get exclusive benefits including ADCB TouchPoints and increased finance amount (if your finance eligibility assessment allows to do so), and also preferential pricing.