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Al Hilal Bank Personal Finance Sukuk Murabaha for Expats Non Salary Transfer

  •   June 30, 2017


Min Salary AED 10,000
Salary Transfer No
Max Finance Amount AED 350,000
Arrangement Fee 1%
Reducing/Flat Reducing
Flat Rate (est. equivalent) 9.25% p.a.
Reducing Rate (As Advertised) 16.8% p.a.
Early Settlement Fee 0%

 

MAIN BENEFITS

  • Al Hilal Bank provides you a facility to purchase the sharia-compliant “National Bonds” saving certificates according to your need and you have the option to redeem the bonds at your convenience.

OVERVIEW OF FEATURES

  • This finance is sharia-compliant.
  • The maximum loan amount is AED 350,000
  • You require a minimum salary of AED 10,000 per month to be eligible.
  • It is not 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 9.25% to 11.25%. It will vary depending on customer profile.
  • The flat rate of this finance is 9.25% and the equivalent rate in reducing balance is 16.8%. 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 Sukuk Murabaha for Expats Non Salary Transfer
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