Noor Bank Personal Finance – For Expats

  •   Deal Expired
Min SalaryAED 5,000
Salary TransferYes
Max Finance AmountAED 1,000,000
Arrangement Fee1%
Reducing/FlatFlat
Flat Rate (est. equivalent)2.49% p.a.
Reducing Rate (As Advertised)4.93% p.a.
Early Settlement Fee1%

 

MAIN BENEFITS

  • Second finance and enhancement options available
  • First year free credit card
  • Maximum finance amount of AED 1,000,000
  • Payment holiday of up to 3 months

OVERVIEW OF FEATURES

  • This finance is sharia-compliant.
  • Up 20 multiples of monthly income with maximum AED 1 Million. Maximum financing tenure up to 48 months.
  • You require a minimum salary of AED 5,000 per month to be eligible.
  • It is a requirement to transfer your salary to apply. If your salary is above AED 10000, it is not a requirement to transfer your salary but the profit rate will be higher.
  • The processing fee is 1% of finance amount [Min AED 500; Max AED 2,500].
  • The early settlement fee for this finance is 1% of the outstanding amount (principal + profit) to date. The bank has the discretion to waive any or all of the total outstanding profit.
  • The insurance is mandatory.
  • The profit rate varies depending on customer income and employer profile.
  • The flat rate of this finance is 2.69% and the equivalent rate in reducing balance is 4.93%. The calculation used is a multiplication of the flat rate by 1.83 and this is indicative only