|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Mawarid Finance - Personal Loan||Minimum Salary: AED 10,000||Salary Transfer: No||Islamic Finance: Yes||Maximum Term: 0 Years||Flat Rate: 8.0%||Reducing Rate: 14.64%|
- Facility limit up to AED 100,000.
- No salary transfer required.
- Get your finance within 3 working days.
- 30 days grace period.
- No early settlement fees.
- Passport with Visa page
- Emirates ID
- Bank Statement (last 6 months)
- Salary Certificate
- Liability Letter
- Salaried individuals and Self-employed
- Good credit score
- Minimum age 21 years
- Minimum salary required is AED 10,000
** 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.