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Emirates NBD - Islamic-Non-Salary Transfer Financing

	Minimum Salary	Salary Transfer	Islamic Finance	Maximum Term	Flat Rate	Reducing Rate
Emirates NBD - Islamic-Non-Salary Transfer Financing	Minimum Salary: SAR 15,000	Salary Transfer: No	Islamic Finance: Yes	Maximum Term: 5 Years	Flat Rate: 7.4%	Reducing Rate: 8.72%

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We've made getting a loan easier, with financing that does not require any salary transfer.

The financial flexibility you've been looking for

Enjoy attractive rates and high finance amounts for the financial flexibility you need with no salary transfer required

Shariah compliant
Salary transfer not required
Low Annual percentage rate starting from 8.61% (5 year tenor)*
Monthly installment period up to 60 months
Possibility of refinance after paying 20% of finance principal
In case of customer's death or permanent disability, total outstanding finance amount will be waived

Example 1: For personal finance of SAR 200,000 over 60 months, the APR will be 8.15% and the monthly installment will be SAR 4,042.
Example 2: For personal finance of SAR 150,000 over 36 months, the APR will be 8.26 % and the monthly installment will be SAR 4,698.
Example 3: For personal finance of SAR 100,000 over 12 months, the APR will be 8.04% and the monthly installment will be SAR 8,688.
*Management fees: 1% of finance amount (capped at SAR 5,000). Late payment fees: SAR 150. EMI deferment fees: SAR 100. APR may differ depending on the amount and maturity period different from the above examples and subject to credit scoring of each customer.

Features

Shariah compliant
Salary transfer not required
Profit margin as low as 7.40% APR (5 years tenor) *
Monthly installment period up to 60 months
Possibility of refinance after paying 20% of finance principle
In case of customer’s death or permanent disability god forbid, total outstanding finance amount will be waived

Documents Required

Copy of the ID for Saudi nationals and copy of Iqama/passport for expatriates
Employment certificate confirming date of employment, position held, monthly income and bank statement for the last 3 months
Sign the Standing Order form

Eligibility

Applicants must be employed in one of Emirates NBD approved private sector companies and government entities
Applicant's age should be between 21-60 years
Minimum monthly gross salary of SAR 15,000 for bankers, government and semi-government employees

** 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.