Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
NBQ - Al Qard al Hassan NBQ - Al Qard al Hassan Minimum Salary: AED 0 Salary Transfer: No Islamic Finance: No Maximum Term: 1 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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Features
  • Finance amounts up to AED 50,000
  • No processing fees and no interest charges on your loan
  • Repayment period up to 12 months
  • Free Debit / ATM Card
  • Free NBQ Classic or Gold Credit Card
  • Higher loan amount can be obtained with reduced interest rates
Documents Required
  • Valid Copy of Passport and Emirates ID
  • Financial documents showing your monthly salary transfer (e.g. Salary Transfer Letter, Bank Statement)
  • Other documents may be requested at the discretion of the Bank.
Eligibility
  • UAE Nationals who are:
  • Working in the Government sector and transfer their salary to NBQ Account
  • New NBQ customers
  • Minimum salary criteria applies
  • Available to customer minimum 21 years of age and 55 years of age at maturity of a loan
** 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.
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