| 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% |
Low-Profit Rate Private Loan in Dubai
“Floosi” is a flexible short term financing product that provides fast, easy and short term cash solutions to meet your unforeseen or short term increased expenditure. Based on the Islamic mode of financing, this service is offered to UAE nationals and expats who are salaried or self-employed.
Receiving a private loan in Dubai enables our customers to take full advantage of hassle-free processes that do not request saving accounts or a high salary. “Floosi” is a personal loan required to meet the needs of clients looking for emergency funds. This loan is easily manageable through post-dated cheques or bank transfers.
Entitlement for Personal Loans in Dubai
There must be an agreed contract between the lender and borrower, and the repayment guidelines must be agreed upon confirmation of the loan entitlement. Your credit rating is extremely important when applying, as your past performance and money management will be taken into account. You will be assigned a credit grade which will determine the amount and the lowest profit rate loan available to you. There will be a specific set of documents required from your end. We can send a representative to your home or office for verification and processing.
Why personal loans with Mawarid Finance?
Mawarid Finance is committed to playing a predominant ole in the social development and support of the government in structuring the cities
Features
- 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.
Documents Required
- Passport with Visa page
- Emirates ID
- Bank Statement (last 6 months)
- Salary Certificate
- Liability Letter
Eligibility
- 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 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.
Representative Example Calculator
