Abu Dhabi Commercial Bank has decreased its home loan interest rates by 0.20%, or 20 basis points with effect from Wednesday, February 07, 2018. This interest rate cut will reduce the cost for those people who have taken their home loan advances on floating rate of interest.
Abu Dhabi Commercial Bank – Current Home Loans and Housing Finance Interest Rates
New Delhi (Delhi, India), February 18, 2018
Abu Dhabi Commercial Bank Cuts Home Loan Interest Rate to 8.55% Per Annum
The Abu Dhabi Commercial Bank has decreased its home loan interest rates by 0.20 percent, or 20 basis points with effect from Wednesday, February 07, 2018.
Abu Dhabi Commercial Bank has revised its minimum home loan floating interest rate from 8.75 percent to 8.55 percent per annum (MCLR-1Year + 0.10%) for salaried and self-employed female applicants (EMI Rs. 772 per lakh for a period of 30 years) for the home loan amount up to Rs. 75,00,000 and from 8.85 percent to 8.65 percent per annum (MCLR-1Year + 0.20%) for salaried and self-employed male applicants (EMI Rs. 780 per lakh for a period of 30 years) for the home loan amount above Rs. 75,00,000.
The home loan interest rate of Abu Dhabi Commercial Bank is benchmarked or linked to its One-Year MCLR (Marginal Cost of Funds based Lending Rate). Abu Dhabi Commercial Bank’s current One-Year MCLR, which is called MCLR-1Y, is 8.45 percent per annum with effect from Wednesday, February 07, 2018.
Abu Dhabi Commercial Bank’s reduction in current mortgage loan interest rate will bring down the cost of funds for those people who have taken their home loan advances on floating rate of interest. However, this interest rates revision will not affect the Abu Dhabi Commercial Bank’s fixed rate customers, as their contracted rates will remain unchanged.
Abu Dhabi Commercial Bank Housing Finance – Current Home Loan Interest Rates for Various Category of Borrowers
Abu Dhabi Commercial Bank Home Loan Interest Rate for Salaried Women:
8.55% Per Annum for Home Loan Amount up to Rs. 75,00,000
8.65% Per Annum for Home Loan Amount above Rs. 75,00,000
Abu Dhabi Commercial Bank Home Loan Interest Rate for Self-Employed Women:
8.55% Per Annum for Home Loan Amount up to Rs. 75,00,000
8.65% Per Annum for Home Loan Amount above Rs. 75,00,000
Abu Dhabi Commercial Bank Home Loan Interest Rate for Salaried Men:
8.55% Per Annum for Home Loan Amount up to Rs. 75,00,000
8.65% Per Annum for Home Loan Amount above Rs. 75,00,000
Abu Dhabi Commercial Bank Home Loan Interest Rate for Self-Employed Men:
8.55% Per Annum for Home Loan Amount up to Rs. 75,00,000
8.65% Per Annum for Home Loan Amount above Rs. 75,00,000
Abu Dhabi Commercial Bank Home Loan Interest Rate for Weaker Section Borrower: 8.55% Per Annum for Home Loan Amount up to Rs. 28,00,000
Abu Dhabi Commercial Bank Home Loans Minimum Borrowing Amount: Minimum Home Loan Amount is Rs. 3,00,000
Abu Dhabi Commercial Bank Home Loans Rate of Interest is Floating or Fixed: Floating Rate of Interest
Abu Dhabi Commercial Bank Home Loan Processing Fee and Documentation Charges: 0.50% of the Loan Amount (Maximum Rs. 20,000 plus applicable Service Tax and Surcharge)
Minimum Tenure for the Abu Dhabi Commercial Bank Home Loan: Minimum Home Loan Tenure is 3 Years
Maximum Tenure for the Abu Dhabi Commercial Bank Home Loan: Maximum Home Loan Tenure is 30 Years
Minimum Age Limit for Getting the Abu Dhabi Commercial Bank Home Loan Sanctioned: Minimum Age 21 Years at the Time of Home Loan Commencement
Maximum Age Limit for Getting the Abu Dhabi Commercial Bank Home Loan Sanctioned: Maximum Age 60 Years for Salaried and Self-Employed Applicants at the Time of Home Loan Maturity
Quantum of Abu Dhabi Commercial Bank Home Loan: Up to 90% of the Home Value
Different Options for Making Abu Dhabi Commercial Bank Home Loan EMI Payments: The three options for making EMI payments are Standing Instruction (SI), Electronic Clearing Service (ECS), or Post-Dated Cheques (PDCs)
Abu Dhabi Commercial Bank Home Loan Pre Closure Charges or Prepayment Penalty: Nil Charges or Penalty for Abu Dhabi Commercial Bank Home Loans and Abu Dhabi Commercial Bank Home Improvement Loans with floating rate of interest
Charges for Abu Dhabi Commercial Bank Home Loan EMI Late Payment: Minimum 2% Per Month of the Abu Dhabi Commercial Bank Home Loan EMI Outstanding Amount (Minimum Rs. 500 Maximum Rs. 5,000 plus applicable Service Tax and Surcharge)
Abu Dhabi Commercial Bank Home Loan EMI Cheque, AD, or ECS Bounce Charges: Rs. 500 plus applicable Service Tax and Surcharge
Conversion Charges for Abu Dhabi Commercial Bank Floating Rate of Interest Home Loan: 0.50% of the Abu Dhabi Commercial Bank Home Loan Principal Outstanding Amount plus applicable Service Tax and Surcharge (Minimum Rs. 10,000 plus applicable Service Tax and Surcharge)
Guarantor Requirement for the Abu Dhabi Commercial Bank Home Loan: No Guarantor is Required
Abu Dhabi Commercial Bank Home Loan Margin Amount:
Minimum 10% of the House or Property Purchase Value up to Rs. 20,00,000
Minimum 20% of the House or Property Purchase Value from Rs. 20,00,001 to Rs. 75,00,000
Minimum 25% of the House or Property Purchase Value above Rs. 75,00,000
Abu Dhabi Commercial Bank – Deposits and Loans Interest Rates
Current Deposits and Loans Interest Rates of Abu Dhabi Commercial Bank