ADIB voted most popular bank for loans
Abu Dhabi Islamic Bank (ADIB) has been named the most popular bank for loans by Souqalmal.com users.
In our list of the UAE’s top five most popular financial products for the third quarter of 2013, users named ADIB as the best bank for personal loans, home loans and car loans.
In the car loans category alone, the bank dominated the rankings – winning the top three spots with its new and used car finance products.
This is the second list of its kind released this year which publishes the results to help create more transparency in the UAE’s personal finance market.
The team at Souqalmal.com compile the quarterly list from the top five most-viewed financial products across four categories: Credit cards, personal loans, home loans and car loans. Products only make the list if they receive the most views from visitors to the website.
The list acts as a barometer of which products are garnering the most interest in the personal finance market – a useful tool for both banks and consumers.
Once again, through our quarterly report of most popular financial products for 2013, our tens of thousands of users have told us what they like simply by clicking on the products that interest them. Their choices send a clear message to the banking community of the types of personal finance product consumers want to know more about. It also helps other consumers decide which products to sign up for.
This is the second time ADIB featured top of the rankings on Souqalmal.com’s top-five list. In the last quarter, the bank secured the top spots for home and car loans. However, this quarter ADIB was the most-viewed bank for all loans.
ADIB’s Al Khair Settlement for Expats, starting at a reducing rate of 5.99% and offered to those earning over AED5,000, was voted the nation’s best personal loan.
A new entrance in the Top 5 Home Finance category this quarter is Emirates Islamic Bank taking both 2nd and 3rd position on the list with their Binaa Home Finance requiring a minimum salary of AED10,000 and charging a rate of 4.99% – an option for many who are looking for an Islamic home finance with 0% downpayment.
And ADIB also won in the car finance category with its Used Car Finance Ijarah – starting at a reducing rate of 7.24% and offered to those earning over AED5,000 with a 0% downpayment – voted the nation’s best car loan.
However, the bank did not dominate all the categories. Cashback and Airmiles took the lead as the main benefits that customers were searching for. Najm secured the top spot in the credit cards’ category for the second quarter running – this time with its Silver Card, which offers users cash back on spends at Carrefour and charges 2.99% on borrowing.
The Najm card was closely followed by CBD’s free annual fee Gold MasterCard and Citibank’s Emirates Gold Card. CBD offers Attijari points on its Gold Mastercard which can be redeemed for Skywards Miles or discounts are various retailers while Citibank offers Skyward Miles for each USD 1 spend.
Our team uses this list as a comprehensive guide to which products attract the most site traffic and tailor our comparison offerings to meet the interests of our visitors more effectively.
Click here to view the full list of the Top 5 Most popular financial products in the UAE