Service Ijarah
| 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 | Applicants must provide proof of income along with a contract or agreement with the service provider (e.g., for education, medical treatment, travel, or rental services). |
| Minimum Loan Amount | AED 5,000.00 |
| Maximum Loan Amount | AED 300,000.00 |
| Minimum Loan Tenure | 6 months |
| Maximum Loan Tenure | 48 months |
| Flat Interest Rate: | 3.00% - Fixed profit rate applicable for service financing. |
| Reducing Interest Rate: | 5.50% - Reducing profit rate for deferred service payments. |
| Processing Fee: | 1.00% - 1% standard processing fee. |
| Early Settlement Fee: | 1.00% - 1% fee on outstanding principal for early settlement. |
| Late Payment Fee: | 1.00% - 1% fee on late installment payments. |
| Insurance Fee: | 0.63% - Estimated Takaful fee of 0.63% on the finance amount. |
Required Documents
Emirates ID, passport copy, salary certificate, service provider contract, and cost breakdown.
Promotions
Flexible repayment options and potential fee reductions based on service type.
Additional Benefits
Tailored financing for service-related expenses with competitive terms.
Features:
Structured as Service Ijarah to finance services under Islamic principles.
General Notes
Approval subject to verification of service provider details and customer’s income stability.
