The ADIB Cashback Visa Covered Card is a Sharia-compliant card from Abu Dhabi Islamic Bank (ADIB) that works like a credit card. It pays 4% cashback on groceries, fuel, school fees, dining, and utility bills.
Each category has its own monthly cap, and total cashback is limited to AED 1,000 per month. Instead of interest, the card uses a profit rate based on an Ijarah structure. Approval depends on the bank’s assessment.
Key Facts (summary)
- Annual fee: AED 99. Up to four supplementary cards are free.
- APR (Annualised Profit Rate): 45.63% per year (3.75% monthly profit rate).
- Minimum income: AED 5,000 per month.
- Fees note: Late payment donation commitment to charity of AED 100. Non-AED transactions carry a 2.3% service fee.
ملخص الحقائق الرئيسية
- الرسوم السنوية: 99 درهماً. حتى أربع بطاقات إضافية مجاناً.
- معدل الربح السنوي (APR): 45.63% سنوياً (معدل ربح شهري 3.75%).
- الحد الأدنى للدخل: 5,000 درهم شهرياً.
- ملاحظات حول الرسوم: مبلغ الالتزام بالتبرع للأعمال الخيرية عند التأخر في السداد 100 درهم. تُطبَّق رسوم خدمة بنسبة 2.3% على المعاملات بغير الدرهم.
Is the ADIB Cashback Visa Covered Card a good card?
It may suit people whose monthly spending is mostly on groceries, fuel, school fees, dining, and utilities.
The 4% rate is capped by category: AED 300 for groceries, fuel, and education, AED 200 for dining, and AED 100 for utilities.
The AED 99 annual fee is relatively low, and the card includes up to 55 days to repay and one roadside assistance service per year.
Pros and cons of the ADIB Cashback Visa Covered Card
Pros
- Everyday cashback: 4% on five common spending categories.
- Low annual fee: AED 99, with up to four free supplementary cards.
- Sharia-compliant: Uses a profit-based Ijarah structure instead of interest.
Cons
- Category caps: Each category has a monthly limit, and the total is capped at AED 1,000 per month.
- Cost of carrying a balance: A 3.75% monthly profit rate (45.63% APR) applies to unpaid balances.
How to apply for your ADIB Cashback Visa Covered Card
You can apply on the ADIB website by filling in the online form with your personal and income details. The bank reviews each application and may ask for documents before deciding.
Disclaimer
This content is for informational purposes only and is not issued or endorsed by Abu Dhabi Islamic Bank (ADIB). All terms, rates, and fees are subject to change and regulatory approval. Please refer to the bank’s official website and Key Facts Statement for the most accurate and updated information.
هذا المحتوى لأغراض إعلامية فقط، ولم يتم إصداره أو اعتماده من قبل مصرف أبوظبي الإسلامي (ADIB). تخضع جميع الشروط والأسعار والرسوم للتغيير والموافقة التنظيمية. يرجى الرجوع إلى الموقع الرسمي للبنك وبيان المعلومات الأساسية للحصول على أدق المعلومات وأحدثها.