Check Eligibility for aafaq
Business Loan

You are eligible to apply for a aafaq
Business Loan .

You may not be eligible * to apply.

* Minimum Annual Turnover AED 1000000 required to apply for a aafaq Business Loan .

*No loan for :User_Nationality available in this page

Click here to check from other banks.

aafaq Business Loan Calculator

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I hereby acknowledge and agree to allow Citibank to share my details with any UAE credit bureau and make enquiries about me with any UAE credit bureau at its sole and absolute discretion. I agree to the Terms and Conditions listed below. Citibank Terms and Conditions apply, are subject to change without prior notice and are available upon request. For the current Terms and Conditions, please visit our website www.citibank.ae. All offers are made available on a best-effort basis and at the sole discretion of Citibank, N.A. Citibank, N.A. makes no warranties and assumes no liability or responsibility with respect to the products and services provided by partners/other entities. By inquiring about our services, offers or products, you will be authorizing our representatives to approach you on your contact details including your telephone/mobile number for any product or service offered by Citibank. The applicant agrees to be bound by Citibank’s General Terms and Conditions available on the website www.citibank.ae. The applicant hereby represents and warrants that the information provided herein is true, accurate, and complete and that he/she agrees to remain responsible for and to indemnify Citibank, N.A. from and against any losses, claims and/or liabilities incurred by Citibank NA as a result of having relied on such information. Citibank, N.A. is not required to verify the information provided by the applicant and neither is the bank obliged to provide the applicant with any loans or credit facilities based on the provided information. The products and services mentioned on this website are not offered to individuals resident in the European Union, European Economic Area, Switzerland, Guernsey, Jersey, Monaco, San Marino, Vatican, The Isle of Man or the UK. This page is not, and should not be construed as, an offer, invitation or solicitation to buy or sell any of the products and services mentioned herein to such individuals.

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Business Loan Provided By aafaq

Check Eligibility for aafaq Business Loan

You are eligible to apply for a aafaq
Business Loan .

You may not be eligible * to apply.

* Minimum Annual Turnover AED 1000000 required to apply for a aafaq Business Loan .

Click here to check loans from other banks.

aafaq Business Loan Calculator

Features of aafaq Business Loan

  • Shariah Compliant Loans
  • Fast Approvals and Efficient Service
  • Simple Documentation Process
  • Flexible Repayment Tenure
  • Finance for a wide range of applications (governed by Sharia)

Documents Required of aafaq Business Loan

  • Company Profile
  • Request letter
  • Trade License copy
  • Passport and valid emirates ID copies of owners and authorized signatories.
  • Audited financials for the past 2 years
  • Bank statements for the past 6 months
  • Project feasibility report (whenever applicable)

Constitutive documents

  • Memorandum of Association (MOA)
  • Partnership Deed
  • Power of Attorney (whenever required) etc.

aafaq Business Loan Interest rates

aafaq Bank

1 aafaq Bank Business Loans

Tasaheel-Business Finance

Flat Rate

9.7%

Reducing Rate

17.6%

Min Finance Amount

AED 100K

Max Finance Amount

AED 10000K

Early Settlement Fee

1%

Min Annual Turnover

AED 1000K

Tenure

48 Years

Approval Time

4 Days

Processing Fee

1.5%

flat rate

9.7%

Flat Rate

reducing rate

17.6%

Reducing Rate

minimum amount

AED 100K

Min Finance Amount

maximum amount

AED 10000K

Max Finance Amount

early settlement fee

1%

Early Settlement Fee

annual turnover

AED 1000K

Min Annual Turnover

tenure

48 Years

Tenure

approval time

4 Days

Approval Time

processing fee

1.5%

Processing Fee

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • Top up facility available

Features

  • The reduction rate and the flat rate is 17.6% and 9.7%. This denotes that the computation done was a division of the reduction rate by 1.814
  • Provides maximum finance amount of up to AED 10,000,000
  • Early settlement fee is 1% of the loan amount
  • Processing fee is 1.5% of the finance amount
  • Repayment period is up to 48 months
  • Provides minimum finance amount of up to AED 100,000
  • There is no maximum annual turnover limit to apply for this finance
  • Minimum annual sales turnover of AED 1,000,000 is needed to apply for this finance
  • You need not have an account in this bank to apply for this finance
  • After successful submission of documents, within next 4 working days the bank will approve the loan

Benefits

  • Finance amount is high
  • Long and flexible repayment period is provided by bank
  • Top up facility available
  • Follows Islamic principles
  • Documentation process is simple and easy

View details on bank page

About aafaq

Aafaq Islamic Finance provides Islamic financial solutions all across UAE and is one of the major financial institutions that provide Sharia compliant financial services for a wide range of institutions. The Aafaq financial company was founded in 2006 and is a fully autonomous financial institution.

The company focusses on exploring and finding out the best opportunities within various business sectors in order to get highest possible returns for its shareholders.