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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 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.
Representative Example Calculator
Riyad Bank - Tawarruq
Minimum Salary
SAR 3000
Flat Rate
1.32%