ADCB Self Employed Salam Smart Finance

  •   June 29, 2017


Min SalaryAED 1,000,000
Max Finance AmountAED 1,500,000
Arrangement Fee1%
Reducing/FlatReducing
Flat Rate (est. equivalent)From 8.26% p.a.
Reducing Rate (As Advertised)From 14.99% p.a.
Early Settlement Fee1%

 

MAIN BENEFITS

  • Repayment tenure of 48 months, high finance amount.

OVERVIEW OF FEATURES

  • This finance is sharia-compliant.
  • The maximum amount of finance offered is AED 1,500,000.
  • Your business must have a minimum annual turnover of AED 1,000,000 to be eligible for this finance.
  • It is not a requirement to transfer your income to the bank to be eligible for this finance.
  • The processing fee is 1% of the total finance amount. [Min AED 500; Max no cap]
  • The early settlement fee is 1% of outstanding balance.
  • The Takaful fee is 0.75% of the finance amount.
  • The profit rate starts at 14.99% per annum based on a reducing balance. It will vary depending on length of business and turnover. The rate is calculated on a reducing balance.
  • The reducing rate of this finance is 14.99% and the equivalent flat rate is 8.26%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.

ADCB Self Employed Salam Smart Finance
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