x Abu Dhabi, UAEMonday 24 July 2017

Three of the best: Ramadan finance offers

Double your reward points on Mashreq cards between iftar and suhoor and ADIB is offering customers an automatic payment holiday on repayment instalments this Ramadan.

1. Payment holiday on personal finance products with ADIB

Benefits: Abu Dhabi Islamic Bank is offering customers an automatic payment holiday this Ramadan. All July instalments have been automatically postponed until August. The offer is valid for customers who have any of ADIB's personal finance products, car finance, educational finance and travel finance.

Watch out for: Customers must be up to date with their payments and have a salary transfer arrangement with the bank.

2. Double reward points on Mashreq cards from iftar to suhoor

Benefits: Every swipe of a Mashreq debit or credit card between iftar and suhoor during the holy month will earn customers double Salaam points. Also, Smart Saver credit card members will receive 50 per cent cashback. Air Arabia cardholders will receive double Air Arabia dirhams. Etisalat Mashreq card customers will earn double "more" points.

Watch out for: Don't spend unnecessarily simply to earn benefits that you might not use.

3. Special rates on personal, car and housing finance at EIB

Benefits: Emirates Islamic Bank has a special Ramadan loan rate of 2.99 per cent with free credit life takaful cover. Car finance starts at 2.49 per cent on new cars and 3.65 per cent on second-hand motors. The promotion runs until August 15. Anyone applying for a salary transfer credit card can also save 50 per cent on processing fees if they take out a car, personal or mortgage loan.

Watch out for: Only take on loans you can afford to repay.