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Personal Loan Provided By Ajman
| 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
8 Ajman Bank Personal Loans
Take Over Finance
Features
- Required to submit bank statement for last 6 months
- Finance repayment period is up to 25 years
- The rates applicable depend on salary
Features
- Required to submit bank statement for last 6 months
- Finance repayment period is up to 25 years
- The rates applicable depend on salary
- Only UAE Nationals can apply for this finance
- Required to submit quotation of the required goods addressed to Ajman Bank
- Minimum age of 21 years is required
- The loan is provided for a interest rate of 5.99%
- Minimum salary of AED 20,000 is required
- The reduction rate and the flat rate is 5.99% and 3.18%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance upto AED 4,500,000
- The early settlement fee is 1% of the outstanding amount to date
- Free takaful offered.
- Arrangement fee is 1% of loan amount
Benefits
- Repayment tenor of up to 25 years
- Simple documentation
- Quick processing
- Pre-Approved Credit Card with lifestyle benefits
- Takaful is offered free of cost
Personal Finance - Goods Murabaha for UAE Nationals
Features
- Required to submit bank account details for last 3 months
- The rates applicable depend on salary
- Finance repayment period is upto 48 months
Features
- Required to submit bank account details for last 3 months
- The rates applicable depend on salary
- Finance repayment period is upto 48 months
- Only UAE Nationals can apply for this finance
- Required to submit quotation of the required goods addressed to Ajman Bank
- Minimum age of 21 years is required
- The loan is provided for a interest rate of 5.75%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.75% and 3.17%. This denotes that the computation done was a division of the reduction rate by 1.813
- It is a requirement to transfer your salary to apply
- Finance upto AED 3,000,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Specifically designed for buying goods such as furniture, electronics, home appliances, yachts, boats, motorcycles,building materials and machinery. Any goods not prohibited by Shariah
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of upto 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Personal Finance - Goods Murabaha for Expats
Features
- Required to submit bank account details for last 6 months
- Minimum age of 21 years is required
- The rates applicable depend on salary
Features
- Required to submit bank account details for last 6 months
- Minimum age of 21 years is required
- The rates applicable depend on salary
- Copy of passport is required (with residence visa)
- Arrangement fee is 1% of the finance amount
- Required to submit quotation of the required goods addressed to Ajman Bank
- The loan is provided for a interest rate of 5.99%
- Minimum salary of AED 6,500 is required
- The reduction rate and the flat rate is 5.99% and 3.33%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance upto AED 1,000,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Specifically designed for buying goods such as furniture, electronics, home appliances, yachts, boats, motorcycles,building materials and machinery. Any goods not prohibited by Shariah
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of up to 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Education Finance for Expats (STL)
Features
- Required to submit bank account details for last 3 months
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is up to 48 months
Features
- Required to submit bank account details for last 3 months
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is up to 48 months
- Quotation of the required services addressed to Ajman Bank
- The rates applicable depend on salary
- Copy of passport is required (with residence visa)
- The loan is provided for a interest rate of 5.75%
- A minimum salary of AED 6,500 is required
- The reduction rate and the flat rate is 5.75% and 3.17%. This denotes that the computation done was a division of the reduction rate by 1.813
- It is a requirement to transfer your salary to apply
- Finance up to AED 750,000
- It is a requirement to transfer your salary to apply
- Arrangement fee is 1% of loan amount
Benefits
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of upto 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Education Finance for UAE Nationals (STL)
Features
- Required to submit bank account details for last 3 months
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is up to 48 months
Features
- Required to submit bank account details for last 3 months
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is up to 48 months
- Quotation of the required services addressed to Ajman Bank
- The rates applicable depend on salary
- Minimum age of 21 years is required
- Only UAE Nationals can apply for this scheme
- The loan is provided for a interest rate of 5.75%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.75% and 3.16%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance up to AED 750,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of up to 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Personal Finance for Hajj & Umrah for UAE Nationals (STL)
Features
- Required to submit bank account details for last 3 months
- Finance repayment period is upto 48 months
- The rates applicable depend on salary
Features
- Required to submit bank account details for last 3 months
- Finance repayment period is upto 48 months
- The rates applicable depend on salary
- Only UAE Nationals can apply for this finance
- Required to submit quotation of the required goods addressed to Ajman Bank
- Minimum age of 21 years is required
- The loan is provided for a interest rate of 5.99%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.99% and 3.3%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance upto AED 300,000 .
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of up to 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Service Ijarah
Features
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
Features
- Required to submit bank account details for last 3 months
- Minimum age of 21 years is required
- Length of service should be confirmed or should have worked 6 months before applying for this scheme
- Finance repayment period is upto 48 months
- The rates applicable depend on salary
- Copy of passport is required (with residence visa)
- The loan is provided for a interest rate of 7.5%
- A minimum salary of AED 8000 is required for UAE Nationals.
A minimum salary of AED 6500 is required for expats. - The reduction rate and the flat rate is 7.5% and 4.13%. This denotes that the computation done was a division of the reduction rate by 1.815
- It is not required to transfer your salary to apply
- Finance up to AED 3000000 for UAE Nationals, AED 1000000 for Expats
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Quick processing
- Simple documentation
- Pre-approved credit card with lifestyle benefits
- Repaying tenor of upto 4 years
- Low minimum salary requirement
- Takaful is offered free of cost
Personal Finance for Hajj & Umrah for Expats (STL)
Features
- Required to submit bank account details for last 6 months
- Finance repayment period is up to 48 months
- The rates applicable depend on salary
Features
- Required to submit bank account details for last 6 months
- Finance repayment period is up to 48 months
- The rates applicable depend on salary
- Copy of passport is required (with residence visa)
- Required to submit quotation of the required goods addressed to Ajman Bank
- Minimum age of 21 years is required
- The loan is provided for a interest rate of 10%
- Minimum salary of AED 6,500 is required
- The reduction rate and the flat rate is 10% and 5.51%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is a requirement to transfer your salary to apply
- Finance up to AED 300,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Quick processing
- Simple documentation
- Pre-approved credit card with lifestyle benefits
- Repaying tenor of up to 4 years
- Low minimum salary requirement
- Takaful is offered free of cost
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.
About Ajman
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.
Get in touch with Ajman Bank Customer Care
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