|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Al Hilal Bank - Sukuk Finance||Minimum Salary: AED 5,000||Salary Transfer: No||Islamic Finance: No||Maximum Term: 4 Years||Flat Rate: 3.0%||Reducing Rate: 5.4%|
Sukuk Trading Services: AHB executes the customer’s order for purchase and sale of Sukuk and provides a custody service against a fee. This offering provides AHB clients with an opportunity to invest into Shariah compliant capital market instrument “Sukuk”.
- 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.