Our fourth list of the most popular banking products is out! The ranking reveals the five most-viewed financial products by Souqalmal.com users over the last six months across four categories: credit cards, personal loans, home loans and car loans.
Based on our user views and engagement, nine banks feature in the latest top five rankings, with some banks appearing multiple times. ADIB, for example, has nine entries across all four categories.
- In this October 2014 report, Citibank is the most popular bank for personal loans for Souqalmal.com users. The international bank was number one for personal finance in our ranking of the UAE’s top five financial products over the last six months, thanks to its Personal Installment Loan. The product is aimed at those earning over AED 5,000.
- In our home finance category, ADIB came in first place due to its Home Finance for Expats offering, available to those earning over AED 15,000 at a reducing rate of 4.49 percent. The bank also earned second position in this category, with a similar product for UAE nationals.
- When it comes to finding the best credit card, our users voted NBAD as the number one institution, with its Platinum Visa Card coming out on top, available to those earning over AED 10,000 and with no annual fee.
- For consumers looking to buy a car, Union National Bank was voted the favorite financial institution for car finance. Its New Car Loan, at a reducing rate of 4.26 percent, comes with no salary transfer. Interestingly, in the car finance category, new car loan products secured the top two spots – but the other three positions were taken by used car finance options.
We publish the list as a mechanism to provide greater transparency in the nation’s personal finance market. The results speak for themselves: they are the products that our users click on the most while visiting our website. This report sends a very clear message to the banking community of what the UAE consumer want from their personal finance products.
At any given time, our users can view a constantly updating list on the Souqalmal.com homepage of the most popular products over the last 30 days.
Most popular credit cards
|Bank||Product Name||Min Salary (AED)||Annual Fee||Rate|
|1||NBAD||Platinum Visa Card||10,000||–||3.09%||More Info|
|2||ADCB||Etihad Guest Above Platinum Card||15,000||1,000||3.09%||More Info|
|3||Citibank||Citi Life Silver||5,000||150||2.99%||More Info|
|4||Al Hilal Bank||Fixed Fee Classic||8,000||–||AED 200||More Info|
|5||ADIB||Etihad Guest Visa Platinum Card||15,000||2,000||2.83%||More Info|
Most popular personal loans
|Bank||Product Name||Min Salary Needed (AED)||Salary Transfer Required?||Reducing Rate From||Max Loan Amount (AED)|
|1||Citibank||Personal Installment Loan||5,000||No||17.99%||175,000||More Info|
|2||ADIB||Personal Finance For Expats||5,000||No||6.49%||1,000,000||More Info|
|3||Dubai Islamic Bank||Al Islami Salam Finance For Expats||3,000||Yes||11.00%||1,000,000||More Info|
|4||Emirates NBD||Loans For Expatriates||15,000||Yes||4.99%||1,000,000||More Info|
|5||Union National Bank||Expatriate Loan||5,000||Yes||4.99%||1,000,000||More Info|
Most popular car loans
|Bank||Product||Min Salary Needed (AED)||Salary Transfer Required?||Reducing Rate From||Down Payment|
|1||Union National Bank||New Car Loan with no salary transfer||8,000||No||4.26%||20%||More Info|
|2||Al Hilal Bank||New Vehicle Finance||5,000||Yes||4.08%||20%||More Info|
|3||Dubai Islamic Bank||Al Islami Used Car Finance||3,000||No||4.99%||20%||More Info|
|4||ADIB||Used Car Finance – Murabaha||5,000||No||5.42%||20%||More Info|
|5||ADIB||Used Car Finance – Ijarah||10,000||No||6.80%||0%||More Info|
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||4.49%||Variable||25%||More Info|
|2||ADIB||Home Finance For UAE Nationals||10,000||4.49%||Variable||20%||More Info|
|3||Al Hilal Bank||Easy Buy-Ready Property For Self Use||20,000||3.50%||Variable||20%||More Info|