Disclosure: While we were in no way paid to write this article, Commercial Bank of Dubai is our client at the time of its writing. We’re just doing it because we love sharing great deals with our readers!
Banking offers in the UAE tend to be notorious for all the terms & conditions that make them almost impossible to take advantage of. Here at bayzat, we are big fans of creative promotions, but only when they come with NO red tape so customers can actually use them.
Enter the CBD ‘Fab Feb’ promotional offer! First off, we love its simplicity. Apply for a personal loan or car loan from Commercial Bank of Dubai, and get 50% off the interest rate for the first year. For CBD bank account holders, you are also eligible for 50% off set-up fees for overdrafts.
More importantly, unlike many bank promotions here in the UAE, this one provides discounts on something that actually matters. Free iPads, movie tickets and airline vouchers are obviously nice to have, but if you are looking for a loan, you do have to ask yourself, are they relevant? At the end of a day, as a borrower, you want the best interest rate possible, and this is what ‘Fab Feb’ is meant to give you.
So what is the catch? The key T&Cs to keep in mind are:
- Offer is only valid from February 2 to 28, 2015.
- The minimum loan amount to be eligible is AED 100,000.
- The minimum loan period is 36 months.
- You are only eligible for this promotion for one product category (personal loan, car loan or overdraft facility).
- Any late payment fees in the future are calculated on the full interest rate, not the discounted rate.
CBD Personal Loans
One major advantage of the ‘Fab Feb’ promotion is it applies for new, top-up or buyout personal loans. So whether you want to consolidate your debt or refinance an existing loan, you are still eligible for it. For an AED 200,000 new personal loan, the 50% discount in interest rates translates to AED 7,000 in savings during the first year.
Obviously, if you are getting the loan to pay off your credit cards, or refinance an existing loan with a much higher interest rate, then your savings will be even greater. To view the ‘Fab Feb’ personal loan offers, you can simply click here.
CBD Car Loans
For a new vehicle, you can save approximately AED 2,200 on your first year payments for an AED 160,000 car loan. For used vehicle financing, the savings are about 28% more. However, with a first-year interest rate that is over 50% lower than the average car loan interest rate in the UAE, CBD’s offering is definitely among the most attractive in the market.
To take advantage of Commercial Bank of Dubai’s car loan offer, click here.