ABU DHABI - The Abu Dhabi Commercial Bank (ADCB) has expanded its personal loan services and products, as part of drive to enhance customer service, to reach out to national working women and expatriates.
ADCB's specific personal loan is part of the bank's aim to support and encourage financial independence of women. The loans offer a higher than average salary multiple and less stringent eligibility conditions, said a spokesman for the bank.
In efforts to cater to all sections of the community, ADCB's personal loan is also offered to expatriate residents.
The personal loan product offers extremely competitive interest rates, high loan amounts and extended repayment periods, all designed to help customers, and unlike many other banking institutions, ADCB customers are not subject to a grace period to qualify for eligibility. As soon as a customer's first month's salary has been received they can take out an ADCB loan. Moreover, nationals no longer require a guarantor for their loan, which was previously a prerequisite.
National working women and expatriates can also benefit from a host of new features including credit life insurance and a free ADCB Credit Card that is exempt from the first year annual fee. Commenting on the introduction of the new ADCB personal loans, Eirvin Knox, CEO of ADCB said: The launch of our new personal loans for national working women and expatriates is yet another example of our planned series of strategic business initiatives, aimed at providing the utmost value to our customers, particularly those that have previously been under-serviced.
Furthermore, the new schemes from ADCB are open to non-ADCB customers who wish to amalgamate their liabilities and banking accounts with one bank. ADCB will also arrange for the take-over of loans from a customer's current bank and consolidate them at the bank. Ultimately, this will result in significant reduced monthly outgoings.
BY A STAFF REPORTER
© Khaleej Times 2004
