| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Emirates Islamic - Personal Finance for UAE Nationals
|
Minimum Salary: AED 10,000 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 4 Years | Flat Rate: 2.59% | Reducing Rate: 4.74% |
This Ramadan, Emirates Islamic brings you Personal finance options for all your needs. From higher education fees to planning your dream wedding, we have you covered with Personal Financing plans. Enjoy attractive profit rates, free Takaful coverage and more.
Turn your dreams into reality with Emirates Islamic Personal Finance from 2.59% flat p.a.*
Benefits:
- Profit rates for UAE nationals starting from 2.59% flat p.a. (approximately equivalent to 4.74% reducing p.a.).
- Free Takaful Coverage.
- Payment holiday up to 4 months .
- Finance amounts up to AED 4 million.
Terms and conditions apply
Offer valid till 30 April 2024.
Documents Required
- Duly-filled bank application form
- Valid Passport of the applicant
- Valid UAE resident visa for expats
- Latest 3 months bank statements where to the salary is transferred
- Salary transfer letter/salary certificate (for salaried customers only)
- Liability letter (for buyout cases only)
- Trade license (for self-employed customers)
Eligibility
- Minimum monthly salary - AED 10,000
- Minimum age requirement - 21 years
- Length of employment – 1 month/First salary credit into Emirates Islamic account
- Maximum age requirement - 65 years at the time of maturity
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual profit 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 profit 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 profit rates and fee structures.
Representative Example Calculator
