Al Hilal Bank Personal Finance Settlement of liabilities for Expats

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Personal Finance Settlement of liabilities for Expats

Minimum Salary

AED 7K

Flat Rate

3.25%

Reducing Rate

5.9%

Loan Amount

AED 1500K

Early Settlement Fee

AED 0

Arrangement Fee

1%

AED 7K

Minimum Salary

3.25%

Flat Rate

5.9%

Reducing Rate

AED 1500K

Loan Amount

AED 0

Early Settlement Fee

1%

Arrangement Fee

Features

  • Required to submit bank statement for last 6 months
  • Minimum age of 21 years is required
  • The rates applicable depend on salary ​​
  • The loan is provided for a interest rate of 5.9%
  • Minimum salary of AED 7,000 is required
  • The reduction rate and the flat rate is 5.9% and 3.25%. This denotes that the computation done was a division of the reduction rate by 1.815
  • It is a requirement to transfer your salary to apply
  • Finance upto AED 1,500,000
  • Arrangement fee is 1% of loan amount

Benefits

  • Specifically designed to settle all liabilities with banks using the Islamic financing mode of Commodity Murabaha
  • High finance amounts
  • The Takaful premium is 0.025% charged per month on the outstanding finance amount
  • Repayment tenor of up to 4 years
  • No early settlement fee

Frequently Asked Questions

Q. How can Al Hilal bank helps us in settling our liabilities with other banks?

A. Al Hilal bank can help you in settling your liabilities with other banks by using the Islamic mode of commodity Murabaha.

Q. Who can apply for Al Hilal personal finance?

A. The applicant must be aged 21 and above to apply for Al Hilal personal finance.

Q. Can I club the income of my spouse along with mine to meet the eligibility criteria Al Hilal bank for personal loan?

A. Yes, you are allowed to club income of your spouse to become eligible for the loan.

Q. Why do I need to provide my social security number while applying for Al Hilal personal loan?

A. You need to provide your personal information to help us process your loan application fast. Your personal information is safe and secured with us.

Q. How long do I have to drawdown a loan in Al Hilal bank?

A. After getting loan approved from the bank you get 30 days to drw it down.

Al Hilal

An Islamic bank, headquartered in Abu Dhabi, the Al Hilal Bank was founded by the Abu Dhabi Investment Council and is a government of Abu Dhabi undertaking. The bank was founded in 2008, and currently, has over 25 branches and a network of more than 100 ATMs across the UAE. According to the bank, the Al Hilal bank works with a mission, “To contribute to the national growth and prosperity of the UAE whilst raising the positive profile of Islamic banking globally, in turn, creating value for all stakeholders.”

Corporate Values of the Al Hilal Bank:

  • Principled: Doing what is right is always the right thing to do. The Performance with consistency.
  • Professional: Providing answers to questions, attending quickly and efficiently to requests and solving problems on the spot.
  • Progressive: Making banking simpler, easier and faster for you.
  • Partnership: A bank that values you, for being you. A bank that helps you make things happen.