| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank AlJazira - Personal Finance 'Dinar' For Bankers
|
Minimum Salary: SAR 10,000 | Salary Transfer: No | Islamic Finance: Yes | Maximum Term: 0 Years | Flat Rate: 7.6% | Reducing Rate: 13.68% |
The personal finance product for bankers gives you the ability to cover all your personal and family expenses with the utmost simplicity and speed, without the need to transfer your salary to Bank Al Jazira. Like all products in Bank Al Jazira , The “ Dinar “ for professionals product is compatible with the provisions of Islamic Sharia.
Benefits:
- Finance without salary transfer
- Finance up to 750,000 SR *
- Free Takaful insurance covers the remainder of the funding in case of death “ God forbid’’
* APR starting from % 7.66 (including administrative fees).
* Administration fees are 1% of the total amount of funding or up to SR 5,000 and subject to 15% Value Added Tax (VAT).
All the fees are subjected to 15% Value Added Tax (VAT)
Features
- Finance without salary transfer
- Management Fees 1% of the finance amount or SR 5,000 whichever is less
- Compatible with the provisions of Islamic Sharia
- Finance up to 500,000 SR
- APR starting from 7.66 % including administrative fees
- The ability to re-finance
- Free Takaful insurance covers the remainder of the funding in case of death “ God forbid
Documents Required
- Copy of National ID
- Identification letter from employer
- Bank statement for the last 3 months
- Copy of the last 3 salary pay slip
Eligibility
- Good credit history
- Customer’s age ranges between 30-55 years
- To be employed for a minimum of 2 years
- Minimum monthly income of SR 10,000
Additional Information
Eligibility
- Good credit history
- Customer’s age ranges between 30-55 years
- To be employed for a minimum of 2 years
- Minimum monthly income of SR 10,000
- Copy of National ID
- Copy of Company ID
- Identification letter from employer
- Bank statement for the last 3 months
- Copy of the last 3 salary pay slip
Representative Example
If you borrow SAR 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 – SAR 297.50 | Total charge for credit – SAR 710 | Total amount you repay – SAR 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.
