New Personal Finance
| Islamic Finance | Yes |
| Minimum Salary | AED 5,000 |
| Minimum Age | 21 years |
| Maximum Age | 60 years |
| UAE Nationals Eligible | Yes |
| Expatriates Eligible | Yes |
| Salaried Eligible | Yes |
| Self-Employed Eligible | No |
| Salary Transfer Required | Yes |
| Employment Criteria | Salaried individuals with a minimum monthly salary of AED 5,000 and a valid employment contract. |
| Minimum Loan Amount | AED 10,000.00 |
| Maximum Loan Amount | AED 500,000.00 |
| Minimum Loan Tenure | 12 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 2.89% - Fixed profit rate example of 2.89%. |
| Reducing Interest Rate: | 5.33% - Reducing profit rate example of 5.33%. |
| Processing Fee: | 1.00% - 1% administrative/documentation fee (min AED 500, max AED 2,500). |
| Early Settlement Fee: | 1.00% - 1% fee on the outstanding principal, capped at AED 10,000. |
| Late Payment Fee: | 1.00% - 1% of the installment amount per month for late payments. |
| Insurance Fee: | 0.63% - Approximate Takaful fee of 0.63% on the finance amount. |
Required Documents
Emirates ID, passport copy, salary certificate, bank statements, employment contract.
Promotions
May include fee waivers or cashback offers subject to bank approval.
Additional Benefits
Quick approval, flexible repayment options, and no collateral requirement.
Features:
Islamic financing based on Murabaha/Ijarah structure with transparent fee details.
General Notes
Offer subject to credit approval, UAE Central Bank regulations, and a cooling-off period of 5 business days.
