Top Personal Loans
Ajman Bank Take Over Finance
- 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 6.25%
- Minimum salary of AED 20,000 is required
- The reduction rate and the flat rate is 6.5% and 3.44%. This denotes that the computation done was a division of the reduction rate by 1.816
- 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
- Repayment tenor of up to 25 years
- Simple documentation
- Quick processing
- Pre-Approved Credit Card with lifestyle benefits
- Takaful is offered free of cost
Frequently Asked Questions
Q. What are the additional charges applied along with Ajman take over finance?
A. Additional charges along with ADIB take over finance are:
1. Processing fee
2. Early settlement fee
3. Security fee
Q. How soon will I get loan amount after getting loan approved from bank?
A. Within next 5-7 working days, you'll get your loan amount transferred directly to your ADIB account.
Q. Is salary certificate a mandatory document to apply for Take Over finance?
A. Yes, customers salary certificate is a mandatory document to apply for this scheme.
Q. Do we need to provide guarantors to apply for Ajman take over finance?
A. No, you need not provide any guarantors or collateral to apply for Ajman take over finance.
Q. 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,6 months bank statement and liability letter from existing 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.