| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
National Bank of Bahrain - FlexiLoan
|
Minimum Salary: BHD 350 | Salary Transfer: No | Islamic Finance: No | Maximum Term: 7 Years | Flat Rate: 3.0% | Reducing Rate: 5.4% |
The NBB FlexiLoan program allows you the flexibility to pay back the loan in installments that increase with the loan tenor. The installments start low and increase every year so you have adequate cash in your hands when you need it most. The Flexi loan allows you the flexibility to manage your cash flow so much better, since the installments are lower in the beginning, and increase as your salary grows!
Features & Benefits:
Features & Benefits:
- Flexibility in paying loan installments
- Flexibility in managing your cash flow
- Minimum required salary: BD 350
- Bahraini National
- Working with the government or a reputed private organisation
** 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
