More Details on Personal Loan

1. High finance amounts.
2. Specifically designed to settle all liabilities with banks using the Islamic financing mode of commodity Murabaha.
3. High salary requirement to apply for this finance.
4. Only UAE nationals can apply for this finance.

Main Benefits

1. Al Hilal Bank helps you settle all your liabilities with other banks using the Islamic financing mode of Commodity Murabaha (Tawarruq).

Overview of features

1. This finance is sharia-compliant.
2. The maximum loan amount is AED 7,500,000.
3. You require a minimum salary of AED 20,000 per month to be eligible.
4. It is a requirement to transfer your salary to apply.
5. The processing fee is 1% of the total finance amount (Maximum AED 2500)
6. If a customer decides to settle their finance early, there is no early settlement fee. However, the total outstanding profit to be paid is at the bank's discretion, and will be decided at the time of settlement.
7. The Takaful premium is 0.025% charged per month on the outstanding finance amount
8. The profit rate varies from 3.6% to 4.25%. It will vary depending on customer profile.
9. The flat rate of this finance is 3.6% and the equivalent rate in reducing balance is 6.53%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only
10. The rate is calculated based on reducing balance.

* This product is subject to eligibility conditions and may not be available for all applicants. Eligibility conditions are set by the service provider and may be subject to change.