Islamic Personal Finance

Islamic Personal Finance

Min. salary
AED 10,000
Max. Amount
AED 5,000,000
Effective rate
4.99%
Islamic Personal Finance With flexible payment terms we put your needs first
View Summary
Salary Transfer
Not Required
Minimum Tenure
12 months
Maximum Tenure
48 month
Early settlement
1.00%

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Features

  • 90-day grace period until your first payment
  • Finance amounts of up to AED 2 million
  • Minimum documentation
  • Fast-track approvals
  • Comprehensive personal life Takaful coverage
For UAE Nationals
  • Personal Finance profit rates starting from 2.64%* (equivalent to reducing rate of 4.99%*)
  • Finance amounts up to AED 5 million
  • First instalment grace period up to 120 days
For Expats
  • Personal Finance profit rates starting from 2.64%* (equivalent to reducing rate of 4.99%*)
  • Finance amounts up to AED 2 million
  • First instalment grace period up to 90 days

Documents Required

  • Copy of a valid passport/resident visa/Emirates ID (originals must also be presented)
  • Bank statements for the last three months showing salary credits (if the salary is not credited to a FAB account)
  • Salary transfer letter/salary certificate addressed to FAB
  • Liability letter or a clearance letter (in case of liability settlement)
  • Application completed and signed by the customer

Note: Additional documents may be required on a case-by-case basis

Eligibility

  • Employed in a governmental, semi-governmental or reputable private organisation
  • Applicant must be 21 years of age or above
  • A minimum salary of AED 10,000