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Ajman Bank Personal Finance for Hajj & Umrah for UAE Nationals (STL)

Ajman Bank Bank

Personal Finance for Hajj & Umrah for UAE Nationals (STL)

Minimum Salary

AED 8K

Flat Rate

3.3%

Reducing Rate

5.99%

Loan Amount

AED 300K

Early Settlement Fee

1%

Arrangement Fee

1%

minimum salary

AED 8K

Minimum Salary

flat rate

3.3%

Flat Rate

reducing rate

5.99%

Reducing Rate

max finance

AED 300K

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
  • 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

Frequently Asked Questions

⭐ How are the rates calculated for this finance?

A. The rates are calculated on the reducing balance for this finance .

⭐ My personal loan application is approved by Ajman bank but I am currently broad. How can I proceed to avail my loan?

A. Once your loan application is approved by Ajman it is only valid for another month. You get one month's time to sign your documents.

⭐ How much loan should I borrow from Ajman bank?

A. You should set a realistic budget for debt repayment and avoid over borrowing of loan. No more than 40% of your savings should go in paying debts and bills.

⭐ What if my monthly income does not meet your requirement. Can I still proceed with my application?

A. Ajman bank does not provide loan to applicants who don't meet bank's eligibility criteria.

⭐ What are the mandatory documents to apply for this scheme?

A. The mandatory documents to apply for this scheme are Emirates ID, passport, application form, salary certificate, 3 months bank statement and quotation of the required services addressed to Ajman Bank.

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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