In its continued drive to bring banking closer to people’s needs and ambitions, Abu Dhabi Commercial Bank (ADCB) has announced the launch of ‘SimplyLife’, a consumer finance brand specializing in simple, quick and accessible personal finance products.
SimplyLife is inspired by a commitment to helping people achieve their ambitions. Sometimes more important moments in life require a little help, which is where SimplyLife comes in – it will offer a simple application process with reduced paperwork, providing more access and easier eligibility for financial products.
Initially, SimplyLife will offer loan services ranging from personal loans to auto loans and loans for business owners. There is also a unique ‘emergency’ SMS service whereby customers will receive priority response for urgent expenses such as medical care.
Importantly, unlike many similar offerings in the market, customers will pay no extra charges for settling loans early, giving them greater financial freedom to achieve their goals in life.
Commenting on the announcement, Sundar Parthasarathy, Head – New Business at ADCB, said, “We understand the role that money plays in helping people achieve their ambitions, and so as a bank we have a role as an enabler for life’s key events, like buying a car or getting married. We believe that personal finance should be available to everyone and that it should be simple, fast, and friendly.”
SimplyLife has been launched as a strategic business unit of ADCB and offers personal loans of up to Dhs200,000 over up to 48 months for customers without salary transfer; Dhs750,000 for customers with salary transfer; and up to Dhs1.5m for entrepreneurs with small businesses. SimplyLife also offers 60 month car loans worth up to 80% of the value of the car, to a maximum of Dhs1m.
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