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Noor Bank Ijarah Finance

Noor Bank Bank

WarningMessage This product is discontinued by the Bank

Ijarah Finance

Minimum Salary

AED 10K

Flat Rate

1.91%

Reducing Rate

3.49%

Loan Amount

AED 25000K

Early Settlement Fee

1%

Arrangement Fee

1%

Down Payment

25%

Repayments Up To

25 Years

minimum salary

AED 10K

Minimum Salary

flat rate

1.91%

Flat Rate

reducing rate

3.49%

Reducing Rate

max finance

AED 25000K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

down payment

25%

Down Payment

repayment

25 Years

Repayments Up To

Features

  • Both self-employed and salaried individuals are eligible
  • Minimum salary of AED 10000 is required
  • Home Finance is provided at a fixed interest rate of 1.91%
  • Home Finance is provided on a reducing interest rate of 3.49%
  • Salary transfer is not required
  • Maximum loan amount provided is AED 25000000
  • Life and property insurance is required
  • 1% of the total loan amount is charged as processing fees
  • The loan is provided for a maximum tenure of 25 years
  • 25% of the property value should be paid as the down payment
  • 1% of outstanding loan amount is charged on early settlement

Benefits

  • Provides loan on takaful principles
  • Low-profit rates
  • Salary transfer is not required
  • Low minimum salary requirement
  • Low insurance rates
  • Provides high finance amounts

Frequently Asked Questions

⭐ Is Ijarah Finance based on takaful laws?

A. Yes, Ijarah finance is based on takaful laws.

⭐ What are the insurance fees associated?

A. 0.5% is added to the reducing rates as insurance fees.

⭐ What is the minimum salary required for salaried expats?

A. Salaried expats need to get a minimum salary of AED 10,000 to be eligible for the loan.

⭐ How many months bank statements are required for self-employed individuals?

A. Self-employed individuals need to submit last 12 months bank statements.

⭐ Are audited documents required?

A. Yes, it is important to submit audited finances.

⭐ Do I need to provide down payment proofs?

A. Yes, down payment proofs are mandatory.

⭐ Do I need to provide down payments proofs for pre-approval details?

A. No, to get pre-approval details down payment details are not required.

⭐ What is the minimum age required to be eligible for the loan?

A. The loan applicant needs to be minimum of 23 yrs to be eligible for the loan.

Noor

Established in January 2008, Noor Bank (formerly known as Noor Islamic Bank), is a young bank providing a wide range of products and service. With a Mission of ‘wanting to be ranked among the top 100 most-innovative companies in the world’ and a Vision ‘to be recognised as the financial icon of Dubai’, the bank follows these values :

  • Customer Centricity
  • Innovation
  • Determination
  • Integrity
  • Responsibility

They believe that Islamic banking has the flexibility and the openness to enable them to offer a wide range of products and services when approached correctly.

   Get in touch with Noor Bank Customer Care