The National Bank of Abu Dhabi's (NBAD) Bahrain unit has announced new low-cost loans to government employees in the kingdom.

The offer lets customers to avail high personal loans at rates as low as 6 per cent per annum, a statement from the bank said. Repayment is flexible and can extend up to 84 months (seven years).

Borrowers would also qualify for a pre-approved credit card that benefit from subsidised interest rates, the statement said.

“This promotional loan was designed to be a great value for our esteemed government employee clients,” said Hassan Bahzad, the regional manager of NBAD-Bahrain. “The low interest rate and flexible repayment period allow consumers who have stable jobs and income to have access to extra funds to make a purchase or investment they desire.”

The other benefits of this promotional loan include the option of loan take over for a loan already running (balance transfer).

“Bahrain is an integral part of NBAD’s international operations and the Bahrain branch continues to expand its innovative offerings in the kingdom and will remain committed to customers in the country,” Bahzad said.

NBAD recently launched its representative office in Shanghai that spans to Hong Kong, Oman, Bahrain, Kuwait, Jordan, Egypt, Sudan, Libya, Switzerland, France, the UK and US.

It has obtained a banking license in Malaysia and will shortly open for business. The bank has further expansion plans in Lebanon, Iraq, India, South Sudan and other key destinations in Mena. – TradeArabia News Service