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Ajman Bank Education Finance for Expats (STL)

Ajman Bank Bank

Education Finance for Expats (STL)

Minimum Salary

AED 6.5K

Flat Rate

3.17%

Reducing Rate

5.75%

Loan Amount

AED 750K

Early Settlement Fee

1%

Arrangement Fee

1%

minimum salary

AED 6.5K

Minimum Salary

flat rate

3.17%

Flat Rate

reducing rate

5.75%

Reducing Rate

max finance

AED 750K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

View details on bank page

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

Frequently Asked Questions

⭐ Can my application get declined by Ajman bank?

A. Your application can get declined if your credit history is not good.

⭐ What is the difference between Flat and Reducing Interest rate?

A. Flat rates are calculated on the entire principal amount of a loan where as reducing interest rate are charged on outstanding loan amount.

⭐ How much loan amount can an individual borrow from Ajman bank?

A. Ajman bank can offer up to 3 times your gross monthly income.

⭐ Who can apply for an Ajman Bank Education finance?

A. The applicant must be aged 21 and above to apply for Ajman Bank Education finance.

⭐ What is the minimum income required per month for expats and UAE Nationals to avail a Education finance from Ajman Bank?

A. Minimum income required to avail a Education finance in Ajman for UAE Nationals is AED 8,000 and for expats is AED 6,500 .

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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