Al Hilal Bank Personal Finance Settlement of liabilities for Expats

  •   June 30, 2017


Min SalaryAED 7,000
Salary TransferYes
Max Finance AmountAED 1,500,000
Arrangement Fee1%
Reducing/FlatReducing
Flat Rate (est. equivalent)3.25% p.a.
Reducing Rate (As Advertised)5.9% p.a.
Early Settlement Fee0%

 

MAIN BENEFITS

  • Al Hilal Bank helps you settle all your liabilities with other banks using the Islamic financing mode of Commodity Murabaha (Tawarruq).

OVERVIEW OF FEATURES

  • This finance is sharia-compliant.
  • The maximum loan amount is AED 1,500,000.
  • You require a minimum salary of AED 7,000 per month to be eligible.
  • It is a requirement to transfer your salary to apply.
  • The processing fee is 1% of the total finance amount (Maximum AED 2500)
  • If a customer decides to settle their finance early, there is no early settlement fee. However, the total outstanding profit to be paid is at the bank’s discretion, and will be decided at the time of settlement.
  • The Takaful premium is 0.025% charged per month on the outstanding finance amount
  • The profit rate varies from 3.25% to 5.25%. It will vary depending on customer profile.
  • The flat rate of this finance is 3.25% and the equivalent rate in reducing balance is 5.9%. The calculation used is a multiplication of the flat rate by 1.814 and this is indicative only
  • The rate is calculated based on reducing balance

Al Hilal Bank Personal Finance Settlement of liabilities for Expats
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