| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Arab Bank Housing Loan
|
Minimum Salary: BHD 500 | Salary Transfer: Yes | Early Settlement Fees: No | Maximum Term: 25 Years | Flat Rate: 6.3 | Reducing Rate: 0.0 |
With Arab Bank Housing Loans owning your dream home could not be easier or more convenient. It is flexible, easy to arrange and offers you a host of benefits.
Arab Bank Housing Loan Features:
Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Arab Bank Housing Loan Features:
- Salary transfer is required
- Maximum term is 25 years
- Financing ready housing units
- Preferential insurance rates
- Free Arab Bank Visa Credit Card with competitive interest rate
- Quick loan application processing time
- Dedicated Sales Team - ready to serve you at your convenience
- Downpayment is 15%
- Valid national ID (for Residents) or valid passport with valid Resident visa (for Non-Residents)
- Latest Salary/Income/Employment verification document
- Recent utility bill in the name of the client e.g. electricity, telephone or rental contract
- Property purchase and sales agreement / contract
- Ownership certificate of the financed property
- Proof of Down payment
Representative example:
If you borrow BHD 10,000 over 3 years at a Representative APR of 4.6% fixed and an annual interest rate of 4.6% you would pay:Payment per month – BHD 297.50 | Total charge for credit – BHD 710 | Total amount you repay – BHD 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
** 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.
Representative Example Calculator
