More Details on Personal Loan

1. Consolidates your debt liabilities into one.
2. Low salary requirement to apply for this loan
3. The rates applicable will depend on the salary
4. Only UAE nationals can apply for this finance.

Main Benefits

1. This is a debt consolidation finance.

Overview of features

1. This finance is sharia-compliant.
2. Finance repayment period is up to 48 months.
3. You require a minimum salary of AED 10,000 per month to be eligible.
4. It is a requirement to transfer your salary to apply.
5. Arrangement fee (Processing fee) can reach up to AED 2,500.
6. The early settlement fee is applied as per UAE Central Bank policy, which is 1% of the outstanding amount (purchase price + profit) to date, or AED 10,000, whichever is lower. The bank has the discretion to waive any or all of the total outstanding profit.
7. Takaful is not included as part of the finance
8. If you transfer your salary, the rate starts at 11%. If you do not transfer your salary, the rate starts at 17.99% for listed companies and 19.99% for non-listed companies.
9. The reducing rate of this finance is 7.25% and the equivalent flat rate is 6.00%.

* 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.