Ajman Bank Personal Loan helps you fulfill your personal financial needs. The personal loan offered by the bank starts at a very low rate of interest. The personal loan amount can go up to AED 1 million and is available for expats and UAE residents. The bank also offers flexible and convenient payment terms on its personal loans.
Features of Ajman Bank Personal Loan
Listed below are the features of Ajman Bank Personal Loan.
- Personal loan amount can be used for any personal expenditure.
- High loan amount: The loan amount can go to a maximum of AED 1 million for expats and UAE nationals.
- Interest rate: Personal loan rate starting at 3.99% p.a. reducing balance.
- Flexible repayment term: The loan comes with flexible repayment tenure up to 4 years.
- Fast and easy processing
- Simple documentation
- First payment holiday up to 90 days
- Available to UAE residents and Expats.
Benefits of Ajman Bank Personal Loan
Ajman Bank Personal Loan offers a wide range of benefits. Listed below are some of the benefits of Ajman Bank Personal Loan.
- Free job loss cover(for salary transfer customers)
- Free Takaful cover(for salary transfer customers)
- Very low rate of interest
- High tenure up to 4 years
- Simple documentation
- Pre-approved credit card
- Simple processing
- First year annual fee is waived for salary transfer applicants
Eligibility criteria of Ajman Bank Personal Loan
Listed below is the eligibility criteria for Ajman Bank Personal Loan
- Available for UAE nationals and expats
- Available for non salary transfer customers
Fees and charges of Ajman Bank Personal Loan
Listed below is the fee and charges applicable on Ajman Bank Personal Loan.
- Processing fee: 1% of the finance amount (Min AED 500- Max AED 2,500) is applicable as processing fee.
- Takaful charge: 0.50% of the finance amount(applicable only to expats)
- Early settlement fee: 1% of the outstanding amount or AED 10,000 whichever is lower.
- Late payment fee:2% of the delayed amount
- Facility cancellation fee: AED 100
- Salary advance fee: AED 300
About Ajman Bank
Ajman Bank was started in UAE with a paid up capital of AED 1 billion. The bank is supported by the leading financial institutions in UAE and individuals in UAE. The bank offers innovative financial services and products catering to different needs of its customers. The bank also offers Sharia financial services and products based on Sharia principles and they are 100% Sharia compliant.
Frequently asked questions- Ajman Bank Personal Loan
- Is the loan available for expats?
- What is the maximum tenure offered for the personal loan?
- Is there any fee charged on late payment?
- What is the maximum loan amount granted for non salary transfer customers?
The personal loan is available for expats.
The maximum tenure offered for the personal loan is 4 years.
The bank charges 2% of the delayed amount as late payment fee on the loan.
The maximum loan amount granted for non salary customers is AED 250,000.
News About Ajman Bank Personal Loan
Ajman Bank’s net profit rises in Q1
Ajman Bank, one of the leading banks in the UAE, scores a net profit of Dh 30 million in the first quarter of 2016 which is 16% high compared to Dh25.86 million in 2015 for the same quarter. The information is revealed by the bank’s financial report posted on the website of Abu Dhabi Stock Exchange. Compared to Dh11.13 2015, Ajman Bank’s financing assets became Dh11.48 billion at the end of 1st quarter of 2016. But, customer deposits of the bank came down slightly to Dh10.54 billion in the same quarter from its Dh11 billion at the end of 2015.
27th April 2016