| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank AlJazira - Personal Finance 'Dinar' for Proffessionals
|
Minimum Salary: SAR 15,000 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 5 Years | Flat Rate: - | Reducing Rate: 13.79% |
The personal finance product for professional grants doctors, consultant engineers and Accountant firm’s owners, gives you the ability to cover all your personal and family expenses with the utmost simplicity and speed. Our Finance solution is based on the income generated from your business.
Like all products in Bank AlJazira, The “Dinar“ for professionals product is compatible with the provisions of Islamic Sharia.
Benefits
- Personal Finance based on business income
- Finance up to 500,000 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
- Personal Finance based on business income
- 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 the National ID
- Bank Statement for the last 12 months
- Work permit
- Business license
- Income statement for the last 2 years (Except for affiliates)
Eligibility
- Good credit history
- Customer’s age ranges between 30-65 years
- Practicing MD for a minimum of 2 years
- Minimum monthly income of SR 15,000
Additional Information
Eligibility
- Good credit history
- Customer’s age ranges between 30-60 years
- Practicing MD for a minimum of 2 years
- Minimum monthly income of SR 15,000
- Copy of National ID
- Bank Statement for the last 12 months
- Work permit
- Business license
- Income statement for the last 2 years (Except for affiliates)
** 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.
