Flip through the latest issue of Gulf Weekly.
Ahli United Bank (AUB) has unveiled a range of special promotions and new financial products to celebrate the Holy Month of Ramadan.
Throughout the Holy Month, customers can avail themselves of special offers on 'MyHome' mortgage loans, 'MyCar' auto loans and AUB credit cards. At the same time AUB is also launching 'FlexiLoan' - a new product that allows customers to set off their monthly savings and bonus payments against outstanding loan amounts and thereby reduce monthly interest expenses.
With MyHome mortgage loans, customers can either take out a new mortgage loan or transfer their existing mortgage to AUB and receive up to eight per cent cash back on a 25 year loan. This amount, in certain cases, could be sufficient to buy a car or to furnish their home.
In addition, customers will also benefit from facilities such as a higher loan amount, down payment as low as 15 per cent of the value of the loan, low starting instalments plus additional finance to own a second home.
This Ramadan AUB is also launching a new consumer loan product called FlexiLoan. This loan has been structured such that the customers can set off additional amounts deposited like savings and bonus payments against the outstanding loan amount at their convenience.
This excess payment reduces the loan outstanding and thus reduces the interest charged to the customer. The unique structure also allows customers to draw down any excess payments at any time over the period of loan.
Owning an automobile has become easier in this Holy Month with AUB's MyCar auto loans. Customers can receive a three per cent cash back and benefit from low interest rates and affordable repayment solutions.
In addition, with AUB credit cards, customers get the advantage of making purchases from selected retailers and repaying the amounts in convenient instalments at zero per cent interest. This Ramadan offer also includes zero per cent interest on balance amounts transferred from other credit cards for 60 days, zero annual fees on Gold Credit Cards for life and for the first year on Classic Credit Cards.
"At Ahli United Bank, we aim to provide customers with product offerings that meet their requirements. We understand that with the advent of the Holy Month of Ramadan and the beginning of the school year, customers need convenient financing solutions. Our Ramadan offerings aim to provide for affordable financial solutions to all customers," said Abdulla Al Raeesi, deputy group CEO-retail banking, Ahli United Bank.
