AJMAN Bank Review
The banking and investing sector in the United Arab Emirates (UAE) and globally has experienced massive development in recent years. Many individuals are saving, applying for credit cards, and investing. With the increased financial and investment activities, many financial firms and banks have emerged over the past years to help clients and individuals with their financial issues. AJMAN bank is a mainstay name in the financial and investment sector in Dubai and the United Arab Emirates. Let’s look at everything you need to understand about this financial giant, including the bank’s services and products.
About Ajman Bank
Since its establishment in 2007, Ajman Bank has remained one of the most popular and renowned financial firms in Dubai and the UAE. The banks offer a wide range of financial services in branches and ATMs throughout the country. Being the first Islamic bank in the country, the financial giant provides progressive and top Islamic banking solutions for businesses and individual customers. The bank offers various personal bank accounts that help clients manage their finances. Besides bank accounts, this financial firm offers other financial services, like credit cards, loans, etc.
Products and Services at Ajman Bank
Most individuals prefer Ajman bank due to the numerous financial services it offers. The services range from credit cards, loans, bank accounts, etc. Let’s look at the popular and top financial services at this bank:
Credit cards
Ajman bank is a well-known bank offering a wide range of credit card services to suit your different purposes and needs. Most credit cards come with an AED 8K salary range and friendly terms. The common Ajman credit cards include
● Ajman Bank Power
● Ajman Bank RoadMiles Classic Card
● Ajman Bank Power Gold
Loans and mortgages
The bank provides mortgages and loans with attractive terms for UAE nationals and expatriates. You can take different types of Ajman loans, such as personal, home, and car loans. Below are the features of the common loans and what you require to apply for them:
Personal Loans
Personal loans are the common financial services the firm offers. These loans have friendly terms and eligibility criteria. Below are the eligibility criteria to qualify for the loan:
● Minimum salary of AED 6.5 to 20K
● Minimum age of 21, and the maximum of 65 years for UAE nationals, but maximum 60 years for non-UAE nationals
● Three to six months’ bank statements
● Application and residential proof, like an emirates ID card, copy of passport, salary certificate, and the application form
Car Loans
Ajman bank provides the best car loans with highly competitive profit rates and long repayment duration. These loans have quick approval and simple documentation than other options. The bank’s main car loans include 50-50 finance offerings, standard offerings, exotic car finance, self-employed finance offering, and fleet finance. Let’s look at the eligibility requirements:
● A valid copy of ID or passport
● Labour card copy
● Copy of Khulasat al Qaid
● A valid copy of a residence visa for expatriates
● Active bank statements for the past three months
● A salary certificate bearing the employer’s name, your salary, incentives or incentives, and the duration
● Self-employers are to present a copy of the trade license
● An approved evaluator’s evaluation
Home loans
This financial giant provides various mortgages or home loans to suit different purposes or needs. You can get different types of loans to suit your different needs. Ajman offers loans of up to 80% for nationals, 50% for non-residents, and 75% for resident expatriates.
Many aspiring homeowners prefer the loans due to the long maximum tenure of 25 years, an AED 15 million maximum finance amount, and the wide geographical coverage. Let’s look at the eligibility of these loans.
● UAE nationals should be between 21 to 70 years and have a salary starting from AED 15ooo monthly.
● UAE resident ex-pats must be between 21 to 65 years of financial maturity and have a basic salary of AED 20000 per month.
● Non-residents must be between 30 and 65 years of financial maturity and have a monthly starting salary of AED 40,000.
● During the application, you must present a duly filled and signed application form, valid passport copy, free zone ID copy, original liability letter, valid employment card copy, and labor card for ladies receiving sponsors from their husbands or relatives.
The bank officials may ask for more documents if the need arises.
Bank accounts
Ajman bank has various bank account types serving various unique services. Thus, when banking with this financial firm, choosing the account tools and features to suit your needs will be good. You can choose a deposit, salary, savings, or current account based on your requirements or needs.
Required documents when opening an Ajman bank account
With the different features and properties of the different bank accounts, you may require varying documents to apply for the specific account. Nevertheless, below are the basic requirements for opening an Ajman bank account:
● ID proof – UAE nationals and expats must have original & copies of their Emirates ID, expats or non-residents to present the original and copies of their passports having visa details.
● Forms – present a duly completed and signed account opening application form.
● Other documents, including trade licenses for commercial or business accounts and salary certificates for a salary transfer account
Process of Opening the Ajman bank account
The banks offer three straightforward options for applying for and opening a bank account. Below are options for opening a bank account at Ajman bank:
● Branch applications – you can find any nearby Ajman bank to open an account. You’ll fill out the application form at the branch and submit it with the necessary documents.
● Online applications – you can also open your account via the online banking portal. The bank’s online portal and internet banking services make it easy and convenient to open your account and make transactions.
● Phone banking – you can contact the banks via 80022 for guidance on the account opening process.
Insurance
Besides these financial services, the bank also provides a wide range of insurance. Health, car, life, and travel insurance are the common coverage policies and plans the firm offers. You can visit the bank’s website to learn about the premiums, coverages, etc.
Other services
Ajman bank offers other financial services such as investment options (Investing in gold, fixed deposits, real estate, and the UAE stock market), stock brokerages, etc.
Final Thoughts
Ajman banks remain one of the best Islamic financial firms providing business and individual customers with the best services. From bank accounts, loans, credit cards, and insurance to other services like real estate investment, the bank remains the best option and financial partner in UAE and across Europe. Open your business or personal account today to enjoy the benefits and amazing features the bank offers.