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Ajman Personal Loan Calculator
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Personal Loan Provided By Ajman
Check Eligibility for Ajman Personal Loan
Ajman Personal Loan Calculator
|Ajman Personal Loan Details|
|Minimum Salary||AED 6500 - AED 20000 per month (depends on the nationality and type of loan)|
|Profit Rates||Flat rate: 3.17% - 5.51% | Reducing rate: 5.75% - 10%|
|Maximum Loan Amount||AED 250K - AED 4500K(depends on the nationality and type of loan)|
|Early Settlement Fees||1% of the outstanding amount|
|Arrangement Fees||1% of the approved loan amount|
|Tenure||4 - 25 Years|
|Age||21 - 60 years(Expats) & 65 years(UAE Nationals)|
Features of Ajman Personal Loan
- Simple documentation
- Quick processing
- Pre-Approved Credit Card with lifestyle benefits
Fees and Charges
- Processing Fee: 1% of the finance amount (Min AED 500- Max AED 2,500)
- Takaful charge: 0.50% of the finance amount(applicable only to expats)
- Late payment fee: 2% of the delayed payment
- Early settlement fee: 1% of the outstanding amount or AED 10,000 whichever is lower.
Eligibility Criteria of Ajman Personal Loan
- Minimum salary required is AED 6.5-20K
- Minimum age 21 and maximum age 65 for UAE Nationals and 60 for non-UAE Nationals
- 3-6 months bank statement.
Documents Required of Ajman Personal Loan
- Application Form
- Copy of Passport (with Residence visa for expatriates)
- Emirates ID Card Copy
- Salary Certificate / Salary Transfer Letter from the employer
- 6 months bank statement
Ajman Personal Loan Interest rates
Frequently Asked Questions
Q. How can I utilize Goods Murabaha provided by Ajman Bank?
A. By using Murabaha, you can buy new furniture to your house, buy electronic gadgets, building material and machinery and anything that’s not against Sharia principles.
Q. How can I cope with unexpected health conditions by using Ajman bank personal loan?
A. Ajman bank provides Service Ijarah which helps you to deal with your unexpected health conditions.
Q. Can I avail take over facility on personal loan provided by Ajman Bank?
A. Yes. Ajman bank provides loan takeovers.
Q. Can I benefit any credit card through this loan?
A. Yes. A pre approved credit card with lifestyle benefits is provided with this personal loan.
Q. Is the salary requirement same for UAE Nationals and expats who wants to avail Goods Murabaha?
A. No. Minimum salary requirement of UAE Nationals is AED 8,000 and to that of expats is AED 6,500.
Q. Do I need to submit the Salary certificate or Salary transfer letter for documentation purpose?
A. Yes. Salary certificate or Salary transfer letter should be submitted in the time of documentation.
Q. What’s the education finance I can expect from this personal loan?
A. An Education finance of AED 75,0000 is offered for both UAE Nationals and expats.
Q. What’s the repayment tenor offered on Murabaha?
A. A repayment tenor of 4 years is offered by Murabaha of Ajman Bank.
Ajman Bank, launched in 2009 is a young, agile Islamic commercial bank that is built on the values of trust, integrity, and transparency. The Emirate's government owns 25% in the bank which is again a strong support. Their way of measuring excellence is based on how efficiently you think they respond to your financial needs. They have brought the human touch back to banking by listening to you.
Ajman Bank Personal Finance is based on the Islamic financing structure of Murabaha, a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin.