Complete consumer financing solution includes Personal and Vehicle finance, Credit cards, accounts and online banking

Focus on customers with less than six month stay in UAE

Emirates Islamic Bank (EIB), the Islamic banking arm of Emirates NBD Group, a leading financial services organisation in the region, announced the launch of a consumer finance package for new entrants to the UAE. The package includes personal and vehicle finance up to AED 75,000 and credit cards with one monthly salary limit, along with various account options and online banking facilities. The special offers have been devised to facilitate new entrants to the UAE or New-to-Job employees to meet their financial commitments and settle into the new environment.

“As a customer-focused bank, Emirates Islamic Bank is always on the lookout to develop special consumer finance offers that will assist our customers to meet their immediate and long-term financial requirements,” said Faisal Aqil, Deputy CEO, Consumer Wealth Management, Emirates Islamic Bank and Dubai Bank. “The special finance packages are being offered to help new expatriates in the country, and UAE Nationals and expatriates on new jobs to cope with the expenses of setting up home, organising their conveyance and settling down.

As per the terms, New-to-UAE and New-to-Job applicants can avail of personal consumer finance up to AED75,000 or a maximum of five times their monthly salary from Emirates Islamic Bank. The personal finance offer, which comes with zero processing fees, is available to applicants who are new to the UAE or on a new job, earn a minimum monthly salary of AED10,000, and have at least one salary credited into their account. Both expatriates and UAE nationals taking on their first or new job can take advantage of this consumer finance scheme.

Emirates Islamic Bank is also offering vehicle finance up to AED 75,000/-. Customers interested to avail this offer will have to pay a down payment of 20 per cent of the car purchase price as per current UAE Central Bank ruling.

“Most persons relocating to the UAE or starting a fresh job need access to financial assistance at that crucial juncture. Emirates Islamic Bank’s new offers will assist new-to-UAE entrants to tide over the initial challenges of setting up a new life,” added Aqil.

Other offers targeting new entrants to the UAE include credit cards that are free of charge for the first year with a credit limit up to one monthly salary. Other benefits include a free cheque book, ATM Card, Account and access to Internet Banking at no charge.