Zero Interest Loan

1. The Winners will be notified on their contact details within 3 days after the draw as provided in their Al Maryah Community Bank (AMCB) account.

2. The zero-interest loan offer shall be processed if the winner meets the Banks Personal Loan (PL) eligibility criteria’s/policies governing the raffle draw. This includes the following, however not limited to only the following:

• The participant must have an account with AMCB. In addition, be a resident or citizen of the UAE.
• His previous month’s salary must reflect in the AMCB account
• Must have a minimum salary income of AED 10,000 for UAE nationals with an employment tenure of 6 months or confirmed employment status, whichever is earlier
• Must have a minimum salary income of AED 10,000 for expats with an employment tenure of a minimum of 1 year
• The Customer Debt Service Ratio ‘ (DSR) has not reached the threshold of 50% as stipulated by the CBUAE. Through his existing Credit facilities If the customer’s DSR exceeds the limit set by CBUAE no loan products will be offered to the customer.
• Must have a good Credit history in accordance with AMCB Credit policies.
• The Customer shall not be allowed to participate in the raffle again, in case they have won a raffle and availed the zero-interest loan
• The Customer is not an employee of AMCB; either direct hire or outsource or Board members

3. The Customer shall abide by all T&C’s as defined in the Personal Loan agreement, including timely repayment of the principal loan amount to avoid any penalty and charges, including levying of interest for non-adherence

4. If this Promotion is interfered with in any way or is not capable of being conducted as reasonably anticipated due to any reason beyond the reasonable control of the Bank, including but not limited to technical difficulties or failures, unauthorized intervention or fraud, vandalism, power failure, natural disasters, acts of God, civil unrest, strikes, infection by computer virus, bugs, tampering, or any other causes beyond the control of the Bank, which corrupt or affect the administration, security, fairness or integrity or proper conduct of this Promotion, the bank reserves the right, in its sole discretion, to the fullest extent permitted by law: (a) to disqualify any Eligible Participant; or (b) subject to any written directions from a regulatory authority, to modify, suspend, terminate or cancel the Promotion. The Bank does not accept responsibility for network, computer, hardware, or software failures of any kind, which may restrict or delay entry to the Promotion.

5. Subject to any applicable laws which cannot be excluded, the Bank and their related bodies corporate shall not be liable for any loss, damage or injury suffered or sustained by anyone (including, but not limited to, direct or indirect loss, consequential loss or loss arising from negligence) arising directly or indirectly out of or in connection with this Promotion or any prize provided as part of this Promotion.

6. Acceptance of offer provided by the Bank will be deemed as consent by the winner(s) to participate in any related publicity and use their name, likeness, image and/or voice for advertising and other promotional purposes without compensation, except as otherwise prohibited by any applicable law.

7. The Bank collects personal information (“PI”) in order to conduct the Promotion and may, for this purpose, disclose such PI to third parties, and as required, to regulatory authorities. Entry is conditional on providing this PI. The Bank will also use, and handle PI as set out in the bank Privacy Statement, which can be viewed at Privacy policy. The Privacy Statement also contains information about how Eligible Participants may opt-out, access, update or correct their PI, and how Eligible Participants may complain about a breach of their privacy or any other applicable law and how those complaints will be dealt with. A request to access, update or correct any PI should be directed to the Bank.

8. This Promotion, and any dispute or claim arising out of or in connection with it, shall be governed by and construed in accordance with the laws of UAE.

9. The winning customer can avail up to AED 150,000 as personal loan with 0% interest rate.

10. Offer is valid for individuals only

To the extent that there is any inconsistency between these terms and conditions and other marketing materials or collateral produced in relation to this Promotion, these terms and conditions will prevail.