| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Arab Bank Personal Loan
|
Minimum Salary: BHD 300 | Salary Transfer: Yes | Islamic Finance: No | Maximum Term: 7 Years | Flat Rate: 9.69% | Reducing Rate: 17.44% |
With Arab Bank Personal Loans, meeting your personal requirements could not be easier or more convenient. It is flexible, easy to arrange and offers you a host of benefits.
Arab Bank Personal Loan Features:
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.
Arab Bank Personal Loan Features:
- Interest rates starting from 9.688%
- Flexible repayment options
- Free credit card with competitive interest rates
- Grace period of up to 45 days
- Loans buy-out facility available
- Quick loan application processing time
- Dedicated sales team - ready to serve you at your convenience
- Salary transfer is required
- Maximum term is up to 7 years
- Maximum loan amount is BHD 40,000
- 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
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
