x Abu Dhabi, UAEMonday 24 July 2017

Deals of the Week: Emirates Islamic Bank offers special Ramadan rates

Emirates Islamic Bank is offering a wide range of reduced loan rates that will last until September 29.

Emirates Islamic Bank has launched a raft of promotional rates on all its finance products to tie in with Ramadan and the start of the academic year.

From 2.99 per cent on car finance to a mortgage rate of 4.99 per cent and a personal loan from 4.49 per cent, the Dubai-based Sharia-compliant lender is the latest bank to announce lower personal finance deals this Ramadan.

The promotion - which runs until September 29 also offers credit card holders a 50 per cent discount on the first year's annual fee.

There is also an option to take a 60-day repayment holiday on a personal loan and up to 90 days on a car loan.

Last week Mashreq Bank offered a 4.99 per cent rate on any mortgages transferred from another bank and in July Standard Chartered dropped its mortgage lending rate to a fixed rate of 4.99 per cent to tie in with the holy month.

"To spread goodwill in Ramadan, the bank's management has decided to offer its customers Islamic finance options at reduced margins," says Faisal Aqil, general manager retail at EIB, which launched in 2004 and now has 30 branches. "With Ramadan, Eid Al Fitr and the back-to-school season all coinciding, we wanted to provide customers with an integrated solution to plan and manage their finances."

For more details call 6005 99995.

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Abu Dhabi Finance is offering mortgages for off-plan buyers of TDIC's The Residences development on the St Regis Saadiyat Island Resort.

With interest rates starting from 5.75 per cent, eligible clients can apply for a home loan of up to 85 per cent of the villa's property value and a tenure of up to 30 years.

The Residences - a luxury collection of 32 villas, which all come with pools and overlook the Gary Player-designed Saadiyat Beach Golf Club - is due for completion later this year.

"We have a great relationship with TDIC and already offer finance for its other villas on Sadiyaat Island," says Philip Ward, chief executive of Abu Dhabi Finance.

"In Abu Dhabi where there is still a significant lack of available residential housing, off plan is the majority of the market. We don't see any issues with offering mortgages on these high quality properties close to completion by a reputable developer."

For more information log onto www.adf.ae.

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Telecoms provider du is offering its On Demand Club service to all new and existing TV subscribers until the beginning of next month.

After September 9, the service - which allows viewers to watch what they want, when they want with the option to pause, fast forward and rewind their favourite programmes - will then be available to all du TV customers for Dh30 a month.

The service offers customers over 2,000 different movies, television series, kids' shows and music including popular titles such as Toy Story, Desperate Housewives and Barney and Friends.

For more information or to activate the On Demand Club, call 04 390 5555.