Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Emirates Islamic - Personal Finance for Expats Emirates Islamic - Personal Finance for Expats Minimum Salary: AED 5,000 Salary Transfer: No Islamic Finance: Yes Maximum Term: 4 Years Flat Rate: 3.99% Reducing Rate: 7.34%
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Features
  • High Finance Amounts
  • 24-hour Approvals
  • Free Credit Card with no annual fees for the first year
  • Financing available to salaried customers
  • Certificate of Takaful / Insurance Cover available
  • This finance is sharia-compliant.
  • High finance amount of up to 2 million for Expats and 4 million for UAE Nationals.Flexible, extended repayment periods of up to 4 years
  • If you transfer your salary then the minimum salary requirement is AED 5,000 and if you don't transfer your salary then the minimum salary requirement is AED 10,000.
  • It is not a requirement to transfer your salary to apply.
  • The processing fee is 2.50% of the finance amount (Min AED 500, Max AED 2,500). There is also a brokerage commission of 1% of the finance amount.
  • The early settlement fee for this finance is 1% of the remaining principal amount to date. The bank has the discretion to waive any or all of the total outstanding profit.
  • The Takaful coverage fee is 0.75% of the finance amount.
  • The profit rate starts from 3.99% per annum based on a reducing rate. It will vary depending on the customer profile. This rate is based on 4-year financing
  • The rate is calculated on a flat basis.
** 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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