Liability Consolidation Finance
| 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 | Salary transferred to DIB. Customers can settle multiple liabilities (internal or external) and combine into a single plan. |
| Minimum Loan Amount | AED 20,000.00 |
| Maximum Loan Amount | AED 4,000,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | N/A |
| Reducing Interest Rate: | 7.00% - Rate starts near 7%, subject to consolidation amount, credit score, etc. |
| Processing Fee: | 1.05% - 1.05% of new consolidated finance amount (min AED 520). |
| Early Settlement Fee: | 1.00% - 1% of outstanding balance if closed before maturity. |
| Late Payment Fee: | 175.00% - Fee recognized as charitable contribution under Sharia rules. |
| Insurance Fee: | N/A - Takaful coverage may be required or optional; check with bank for specifics. |
Required Documents
Clearance letters for existing debts, ID, salary docs, bank statements, and any settlement instructions.
Features:
Combines multiple liabilities (credit cards, finances) into one DIB plan. Possible free-up of leftover funds if eligibility allows.
General Notes
A convenient way to unify monthly payments, potentially lower monthly obligations, subject to full credit review.
