DIB Personal Finance (Service Ijara)
| Islamic Finance | Yes |
| Minimum Salary | AED 3,000 |
| Minimum Age | 21 years |
| Maximum Age | 65 years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Targets customers transferring salary to DIB; used to finance service-based expenses (rent, medical, travel, education). |
| Minimum Loan Amount | AED 10,000.00 |
| Maximum Loan Amount | AED 2,000,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | N/A |
| Reducing Interest Rate: | 7.00% - Profit rate begins around 7% (reducing). Actual rate depends on credit profile and tenure. |
| Processing Fee: | 1.05% - Due diligence & documentation fee of 1.05% of finance amount (min AED 520). |
| Early Settlement Fee: | 1.00% - 1% of remaining principal, up to bank-defined limits. |
| Late Payment Fee: | 175.00% - AED 175 charitable donation in case of late payment, compliant with Sharia rules. |
| Insurance Fee: | N/A - Takaful coverage can apply; confirm final details with the bank. |
Required Documents
Passport/Emirates ID, salary certificate, bank statements, other proof per the bank’s credit guidelines.
Features:
Finances intangible services under Ijara structure; easy installments for rent, medical, educational fees, etc.
General Notes
Structure differs from Sukuk-based by focusing on sub-leasing or service usage instead of direct Sukuk sale.
