| Minimum Salary | Salary Transfer | Islamic Finance | Cashback | Annual Fee | Rate | |
|---|---|---|---|---|---|---|
Al Baraka Islamic Bank - Taqseet Card
|
Minimum Salary: BHD 0 | Salary Transfer: No | Islamic Finance: Yes | Cashback: No | Annual Fee: BHD 0 | Rate: 0% |
Taqseet Card is a financing tool that has been especially designed to help you purchase goods today and pay back on Flexible Installments, “Flexi-Pay” over the time period of your choice. What makes the Taqseet Card so unique is, you can have several finance facilities running on just one card at the same time.
Features & Benefits:
If you spend BHD 1,200 at a purchase interest rate of 18.9% (variable) your representative APR will be 18.9% (variable).
Features & Benefits:
- Flexible monthly installments up to 60 months
- Applicable to salaried & self-employed Individuals
- No salary transfer is required
- Monthly installments can be made at any of participating merchant outlets or at Al Baraka branches
- Accepted in all participating stores
- Supplementary Taqseet card can be issued for a family member
- Fully compliant based on Islamic Sharia‘a principles
- Two valid ID’s (Valid residence permit for expatriates)
- Latest Pay Slip / Salary Certificate
- Bank statement for the last 3 months (6 months for self-employed Individuals)
- Valid Commercial Registration for self-employed Individuals
- Age Criteria: 21 years or above
If you spend BHD 1,200 at a purchase interest rate of 18.9% (variable) your representative APR will be 18.9% (variable).
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
