From loan repayment holidays to credit card fees: how the new #Dubai bank measures will impact you - Arabianbusiness

From loan repayment holidays to credit card fees: how the new Dubai bank measures will impact you - Arabianbusiness:

The measures to help customers will come into effect from April 1 and run until June 30

• Retail loan customers who have been placed on unpaid leave by their employers can approach the bank for repayment holiday of up to three months with zero interest and fees.
• Customers who have availed personal loans, auto loans or mortgages can apply for a one-month repayment holiday with zero fees.
• All first-time home buyers can benefit from a 5 percent increase in the Loan-to-Value ratio (LTV) and full waiver of processing fees (up to 85 percent for UAE Nationals and up to 80 percent for expatriates).
• A refund of charges on cash withdrawals done using debit cards on all ATMs of other banks across the UAE.
• Credit card customers can benefit from interest-free instalment plans for all school fee payments as well as grocery purchases with no processing fees for up to six months. This is in addition to existing low interest instalment plans already in place.
• Customers who may need to cancel their travel bookings purchased on their credit and debit cards will receive a refund of the foreign currency transaction fees charged by the bank.
• Customers using credit cards for cash withdrawals will be allowed 50 percent reduction in the cash advance charges.
• Credit cardholders will not be charged for balance transfers.
• Debt consolidation solutions can be provided upon request.