SimplyLife is the UAE’s most popular financial institution for credit cards and car loans according to our latest most popular banking products ranking.
It is the first time the consumer finance brand, launched by Abu Dhabi Commercial Bank (ADCB) in April last year, has appeared on our ranking of the UAE’s top five most-viewed financial products by our users.
Also at the top of the list was Emirates NBD – voted the best bank for personal loans – and Abu Dhabi Islamic Bank (ADIB), which came out on top in the home finance category for the 5th time in a row.
This is the fifth list of its kind that we release with this latest ranking analysing the most clicked on products of the last six months – the fourth quarter of 2014 through to the end of Q1 2015.
Twelve financial institutions feature with some making multiple appearances. ADIB, for example – previously a regular at the top of the leaderboard – had four placements out of a possible 20. Another new entrant to the list was AMEX, which came in third and fifth position in the credit cards category. Citibank has featured in the top 5 for the last 4 reports but everytime with a different credit card. The Citibank Simplicity Credit Card makes it to the list this time round with a min salary of AED 5,000 and no annual fee.
We compile the list from the most-viewed products across four categories: Credit cards, personal loans, home loans and car loans.
This time we have had two new entrants to the top five ranking – a reflection of the website’s ever expanding coverage of the financial products available to consumers in the UAE.
- Credit cards: Taking the top spot in the credit cards category was the SimplyLife Credit Card from SimplyLife, available to those earning a minimum salary of AED8,000 at a rate of 3.09%. The company also came out on top in the vehicle finance top-five ranking thanks to its SimplyLife Car Loan, again available to those earning over AED8,000 at a reducing rate of 5.99%.
- Personal finance: In the personal finance category, Emirates NBD led the way with its Loans for Expatriates product available to those earning over AED10,000 at a reducing rate starting from 4.99%.
- Home finance: And when it comes to home finance, ADIB was the go to choice with its Home Finance for Expats product available to those earning AED15,000 and above at a reducing rate starting from 2.99%.
- Car loans: the SimplyLife Car Loan from SimplyLife tops our most popular products list in that category.
Please note that all rates are correct as of 27th of April 2015.
The products featured are a reflection of what interests consumers right now. We release this list for exactly this reason – to provide greater transparency in the nation’s personal finance market. At the end of the day, consumers always want to know what everybody else is buying into. So if a particular loan or credit card is attracting a lot of attention, others will want to find out about it. It means it’s in the interest of the UAE’s financial institutions to be at the top of our ranking.
Most Popular Credit Cards
|Bank||Product Name||Min Salary (AED)||Annual Fee||Rate|
|1||SimplyLife||SimplyLife Credit Card||8,000||–||3.09%||More info|
|2||Standard Chartered||Titanium Card||15,000||AED 300||3.25%||More Info|
|3||AMEX||The Dubai Duty Free American Express Card®||20,000||AED 175||2.99%||Apply Now|
|4||Citibank||Citi Simplicity Credit Card||5,000||–||2.99%||Apply Now|
|5||AMEX||The American Express® Platinum Credit Card||22,250||AED 700||2.99%||Apply Now|
Most Popular Personal Loans
|Bank||Product Name||Min Salary Needed (AED)||Salary Transfer Required?||Reducing Rate From||Max Loan Amount (AED)|
|1||Emirates NBD||Loans for Expatriates||10,000||Yes||4.99%||1,000,000||Apply Now|
|2||ADIB||Personal Finance For Expats||5,000||Yes||6.99%||1,000,000||Apply Now|
|3||Dubai Islamic Bank||Al Islami Salam Finance For Expats||3,000||Yes||11.00%||1,000,000||More Info|
|4||ADCB||Personal Loan for Expats||5,000||Yes||5.49%||1,500,000||More Info|
|5||Dunia Finance||Personal Loan||5,000||No||14.00%||150,000||More Info|
Most Popular Car Loans
|Bank||Product||Min Salary Needed (AED)||Salary Transfer Required?||Reducing Rate From||Down Payment|
|1||SimplyLife||Car Loan||8,000||No||5.99%||20%||More Info|
|2||Dubai Islamic Bank||Al Islami Used Car Finance||3,000||No||5.14%||20%||More Info|
|3||ADIB||Used Car Finance – Murabaha||3,000||No||5.60%||20%||Apply Now|
|4||Al Hilal Bank||New Vehicle Finance||7,000||No||4.08%||20%||More Info|
|5||ADIB||New Car Finance – Ijarah||5,000||No||7.23%||0%||Apply Now|
Most Popular Home Loans
|Bank||Product Name||Min Salary (AED)||Reducing Rate From||Rate Type||Down Payment|
|1||ADIB||Home Finance For Expats||15,000||2.99%||Fixed then variable||25%||Apply Now|
|2||Abu Dhabi Finance||Essence Fixed Home Loan – Dubai Properties only||10,000||3.29%||Fixed then variable||25%||Apply Now|
|3||CBD||Mortgage Loans for Expats||20,000||3.99%||Fixed then variable||25%||More Info|
|4||Abu Dhabi Finance||Essence Fixed Home Loan- Abu Dhabi Properties only||10,000||3.29%||Fixed then variable||25%||Apply Now|
|5||Union National Bank||Home Mortgage for Expatriates||15,000||3.99%||Fixed then variable||25%||More Info|