Dubai Bank launches new personal loan with amazing benefits

Commenting on the launch, Mr. Ricky Madan, Vice President, Dubai Bank, said: "Dubai Bank has been at the forefront of providing product innovation and customer value through its extensive range of unique and diversified products and services. As we leave behind a truly successful year we are proud to announce the launch of the new Dubai Bank Personal Loan as a sign that we anticipate a memorable 2004.

"We believe in offering our customers value and this has been our proposition with the introduction of all our products. The new Dubai Bank Personal Loan is by far no exception. It provides features and benefits that cater to more than your financial needs. In fact it offers peace of mind and total protection for you and your family."

The main features of the loan include free life insurance of up to US$100,000, permanent injury or disability cover of up to US$100,000 and free unemployment insurance for six months in the unfortunate event that the customer loses his or her job. Additionally, the loan also comes with worldwide hospitalisation insurance for up to AED65,000. This entitles Dubai Bank loan customers to AED 367 per day, anywhere in the world, in the event of hospitalisation.

Other features of the product include a no minimum balance account, a free global ATM card, as well as a Dubai Bank credit card which carries further benefits. These include 365-day purchase protection insurance, a complimentary e-Gate card, extensive travel benefits, free life and household insurance, and convenient loan-over-the-phone facilities and much more.

Commenting on the new product, R. Sivaram, Personal Loan Product Head, Dubai Bank, said: "Once again, Dubai Bank has introduced another differentiated product which offers unsurpassed value to the customer. Dubai Bank's personal loan with several customer relevant and superior benefits illustrates the bank's continued commitment to provide its customers with maximum value."

The features of the personal loan are of particular value because they provide high levels of security, protection and peace of mind. In the unlikely event of a customer's demise, the beneficiary would receive a payment of up to US$100,000. In addition the beneficiary will get the benefits of life insurance available for the customer on his Dubai Bank Credit card.

"Our personal loan is an extremely strong stand alone product but when it is combined with the complimentary Dubai Bank credit card, it makes our offering the strongest product currently on the market," explained Sivaram.

With minimal documentation requirements and a quick approval process, loans can be credited to an account within 48 hours. Employees from the private and public sector who earn above AED 3,000 per month at an enlisted approved company are eligible. Easy repayment terms extending up to 84 months are available.