Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Emirates NBD - Islamic-Non-Salary Transfer Financing Emirates NBD - Islamic-Non-Salary Transfer Financing Minimum Salary: SAR 15,000 Salary Transfer: No Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 4.84% Reducing Rate: 8.72%
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We've made getting a loan easier, with financing that does not require any salary transfer. 
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 flat rate on the product. This is not the 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
Riyad Bank - Tawarruq
Minimum Salary
SAR 3000
Flat Rate
1.32%