|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 Finance is a mode of Islamic financing using the Shariah compliant contract of Murabaha. Al Hilal Bank Sukuk Finance helps you purchase National Bond saving certificates according to your need. You can redeem these bonds directly from National Bonds to obtain cash to cater to your personal needs.
From 3% Profit rates (flat p.a.) for UAE Nationals
From 3.05% Profit rates (flat p.a.) for expatriate customers
- 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 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.