ADCB launches simplified personal loans
Abu Dhabi, April 13, 2014
Abu Dhabi Commercial Bank (ADCB) has launched ‘SimplyLife,’ a consumer finance brand specialising in simple, quick and accessible personal finance products.
SimplyLife offers a simple application process with reduced paperwork, providing more access and easier eligibility for financial products, said a statement.
Initially, it will offer loan services ranging from personal loans to auto loans and loans for business owners.
It will also feature an ‘emergency’ SMS service whereby customers will receive priority response for urgent expenses such as medical care.
The customers will pay no extra charges for settling loans early, giving them greater financial freedom, said the statement
SimplyLife has been launched as a strategic business unit of ADCB and offers personal loans of up to Dh200,000 ($54,447) over up to 48 months for customers without salary transfer; Dh750,000 for customers with salary transfer; and up to Dh1.5 million for entrepreneurs with small businesses.
The brand also offers 60-month car loans worth up to 80 per cent of the value of the car, to a maximum of Dh1 million.
Sundar Parthasarathy, head - New Business at ADCB, said: “We understand the role that money plays in helping people achieve their ambitions, and so as a bank we have a role as an enabler for life’s key events, like buying a car or getting married. We believe that personal finance should be available to everyone and that it should be simple, fast, and friendly." - TradeArabia News Service