Green Personal Loan
| Islamic Finance | No |
| Minimum Salary | AED 5,000 |
| Minimum Age | 21 years |
| Maximum Age | N/A years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | No |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Must be residing in Ras Al Khaimah and submit an invoice/quotation from a contractor registered under Shams Dubai. |
| Minimum Loan Amount | AED 20,000.00 |
| Maximum Loan Amount | AED 500,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | N/A - Fixed interest rate option available; conventional and Islamic variants offered. |
| Reducing Interest Rate: | N/A |
| Processing Fee: | 1.00% - 1% of loan amount (min AED 500, max AED 2500). |
| Early Settlement Fee: | 1.00% - 1% of outstanding loan amount, maximum AED 10,000. |
| Late Payment Fee: | 200.00% - AED 200 per late payment. |
| Insurance Fee: | N/A - Life insurance fee calculated as 0.01902% x loan tenure (months) x loan amount. |
Required Documents
Invoice/quotation from a contractor (as per Shams Dubai), Emirates ID, salary certificate, and bank statements.
Promotions
Special green loan benefits may apply.
Additional Benefits
Support for environmentally friendly purchases such as solar panels and energy-efficient appliances.
Features:
Tailored for eco-friendly purchases; available in both conventional and Islamic variants.
General Notes
Subject to verification of contractor quotation and eligibility criteria. Processing time is 7 business days.
