|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Al Hilal Bank - Rent Finance||Minimum Salary: AED 5,000||Salary Transfer: Yes||Islamic Finance: No||Maximum Term: 1 Years||Flat Rate: 0.0%||Reducing Rate: 0.0%|
Paying rent can sometimes place a burden on us. With life’s many needs, it’s comforting to know that Al Hilal Bank can offer Rent Finance options that will help you live in the home of your dreams, without worrying about your financial position. We offer different solutions for different needs, making sure that you always have a roof over your head.Al Hilal Bank’s Rent Finance is designed according to the principles of Shariah. Under the relevant Shariah contract, the bank will enable you to pay the rent of your dream home.You can obtain finance for the house of your choice and pay in easy flexible installments.
- Shariah-compliant finance
- High finance amounts
- Competitive rates
- Payment tenure of up to one year
- No down payment required
- Minimum salary requirement of AED 5,000
- A valid passport
- Residence visa page (as applicable)
- Latest 6 months bank statements
- Any other additional documentation which may be required thereafter according to the Al Hilal Bank policies and procedure
** 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.