Dubai Islamic Bank Al Islami Salam Finance for Self Employed

Zero Balance Free account
dubai-islamic-bank Bank

WarningMessage This product is valid by the Bank

Al Islami Salam Finance for Self Employed

Minimum Salary

AED 50K

Flat Rate

11%

Reducing Rate

20%

Loan Amount

AED 350K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

Advantages

  • No salary transfer
  • Can skip 2 installments consecutively
  • Quick processing & approval.

AED 50K

Minimum Salary

11%

Flat Rate

20%

Reducing Rate

AED 350K

Loan Amount

1%

Early Settlement Fee

AED 1000

Arrangement Fee

Advantages

  • No salary transfer
  • Can skip 2 installments consecutively
  • Quick processing & approval.

Features

  • Repayment period is up to 4 years
  • Individuals who are self employed with businesses of more than 2 years can apply for this scheme
  • To apply for this scheme you need to have bank account in this bank for at least one year
  • The loan is provided for a interest rate of 20%
  • Minimum salary of AED 50,000 is required
  • The reduction rate and the flat rate is 20% and 11%. This denotes that the computation done was a division of the reduction rate by 1.818
  • It is not mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 350,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is AED 1000

Benefits

  • Finance is provided for sharia-compliant goods
  • Repayment period is long
  • Designed for buying goods such as furniture, electronics,boats, personal computers, building materials, machinery, motorcycles and jet skies
  • High loan amount is provided
  • Dedicated Manager will assist you throughout the process
  • Processing is quick

Frequently Asked Questions

Q. What if I don’t pay my loan before the tenure?

A. You can top-up your loan and extend the tenure.

Q. Do the co-applicant needs to be a salaried individual?

A. No, it is mandatory that the co-applicant needs to be a salaried individual.

Q. Is it mandatory to have my company listed with the bank?

A. Yes, for salaried individuals your company needs to be listed with the bank.

Q. Do I need to provide any guarantor to apply in Dubai Islamic bank?

A. No, you need not provide any guarantors to apply for personal loan in Dubai Islamic bank.

Q. How long does it take to know the status of my loan application?

A. You can know your loan application status within 2-4 working days.

Dubai Islamic

Dubai Islamic Bank (DIB), established in 1975 is the pioneer of Islamic banking that has seen a phenomenal growth. The Bank since inception has remained customer-centric organization, where honesty and customized personal service form the basis of all relationships. Though sticking to its root traditions, the bank equally blends with the commitment of innovation, flexibility, and modernity. Every customer of the bank is provided with comprehensive solutions for any financial need.

The bank works with the vision of providing unsurpassed customer service and becoming the world’s largest Islamic banking corporation.