| Minimum Revenue | Maximum Loan Amount | Equity Required | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Noor Business Finance
|
Minimum Revenue: AED 2,000,000 | Maximum Loan Amount: AED 4,500,000 | Equity Required: No | Maximum Term: 4 Years | Flat Rate: 9.92% | Reducing Rate: 18.0% |
Noor Bank understand your financial requirements may be big or small. Business Finance will help you grow and is available across key emirates including selected free-zones.
Noor Business Finance Features:
Documents Required
Noor Business Finance Features:
- Maximum amount: up to AED 4,500,000
- Manage your day to day cash with Islamic Covered Facility of up to 15% of your Business Finance limit
- Current account with zero balance
- Flexible payments: up to 48 months
- Pricing as low as 18% pa
- Minimal documentation (see below)
- Life Takaful coverage for authorised signatory or Managing partner
Documents Required
- Application Form
- 1 year bank statements + 2 years Audited Financials as applicable
- Valid Constitution/ Incorporation/Rgistration Documents
- Board Resolution / POA (as applicable)
- Identification card (for U.A.E. Nationals) and passport + visa (for expats) of the authorized signatories
- Tenancy contract & Utility Bills
- Original invoices & list of staff
- Visiting cards & location maps
- Minimum length of business: 2 years
- Minimum turnover of AED 2 million
** 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
