| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Barwa Bank - Personal Finance
|
Minimum Salary: QAR 7,500 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 6 Years | Flat Rate: 2.92% | Reducing Rate: 5.35% |
In our continuing efforts to make banking simple and convenient for you, we are proud to announce our new Shari’ah compliant Personal Finance which offers quick access to cash to use as you see fit.
Benefit now from high finance amounts and enjoy a streamlined application process, with approval expected in less than 24 hours after submitting the application and supporting documents.
Barwa Bank’s Personal Finance is perfect for those times when you need to find some extra cash, be it for a home renovation, that special holiday or something out of the ordinary.
We offer you Personal Finance in conformity with the Islamic finance concept of Murabaha, fully approved by our Shari’ah Supervisory Committee.
Now for a limited time offer, eligible Faseel customers can obtain a Personal Finance at a reduced rate without presenting a salary certificate.
Features & Benefits:
If you borrow QAR 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 – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 10,710
Please note, the actual rate applied to your loan will depend on your circumstances.
Benefit now from high finance amounts and enjoy a streamlined application process, with approval expected in less than 24 hours after submitting the application and supporting documents.
Barwa Bank’s Personal Finance is perfect for those times when you need to find some extra cash, be it for a home renovation, that special holiday or something out of the ordinary.
We offer you Personal Finance in conformity with the Islamic finance concept of Murabaha, fully approved by our Shari’ah Supervisory Committee.
Now for a limited time offer, eligible Faseel customers can obtain a Personal Finance at a reduced rate without presenting a salary certificate.
Features & Benefits:
- 100 per cent Shari’ah-compliant financing
- Attractive profit rate
- Up to 6 years for Qataris and 4 years for Expatriates
- Free takaful insurance for the financed amount
- Higher finance amount for both Qatar nationals and Expatriates
- Easy application process, with approval in less than 24 hours after submitting your application and documents
- Fully transparent transaction with low processing fees and no additional charges
- No hidden costs
- Loan amount up to QAR 400,000 (Expats), QAR 2000,000 (Qataris)
- Completed Personal Finance Application Form
- Expatriates: Copy of Passport with valid residence permit
- Copy of ID card for Qatari nationals
- Salary transfer undertaking for salaried individuals
- Copy of CR with Signatory Card and Article of association for self employed
- 6 month original Bank Statement for new customers only
- Audited Financial Statement of last two years for self employed
- Valid Liability Letter to transfer the salary in case of settlement
- Post dated cheques as per the tenure of finance
- Life Takaful Coverage
If you borrow QAR 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 – QAR 297.50 | Total charge for credit – QAR 710 | Total amount you repay – QAR 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.
Representative Example Calculator
