Ajman Bank Personal Finance – Goods Murabaha for Expats

  •   June 30, 2017


  Min SalaryAED 6,500
Salary TransferYes
Max Finance AmountAED 1,000,000
Arrangement Fee1%
Reducing/FlatReducing
Flat Rate (est. equivalent)From 3.17% p.a.
Reducing Rate (As Advertised)From 5.75% p.a.
Early Settlement Fee1%

 

MAIN BENEFITS

  • Fast processing, minimal documentation and finance up to AED 1,000,000.

OVERVIEW OF FEATURES

  • This finance is sharia-compliant.
  • Finance repayment period is up to 48 months.
  • You require a minimum salary of AED 6,500 per month to be eligible.
  • It is a requirement to transfer your salary to apply.
  • The arrangement fee is 1% of the finance amount (min AED 500 and Max AED 2,500).
  • The early settlement fee for this finance is 1% of the outstanding amount (principal + profit) to date, or AED 10,000, whichever is lower. The bank has the discretion to waive any or all of the total outstanding profit.
  • Takaful is offered free of cost.
  • The rate starts at 5.75% per annum based on a reducing balance. It will vary depending on customer profile.
  • The reducing rate of this finance is 5.75% and the equivalent flat rate is 3.17%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only.
  • This rate is calculated on a reducing balance

Ajman Bank Personal Finance – Goods Murabaha for Expats
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