Dubai Islamic Bank Al Islami Goods Finance for Expats

dubai-islamic-bank Bank

WarningMessage This product is by the Bank

Al Islami Goods Finance for Expats

Minimum Salary

AED 3K

Flat Rate

6%

Reducing Rate

11%

Loan Amount

AED 2000K

Early Settlement Fee

1%

Arrangement Fee

AED 1000

AED 3K

Minimum Salary

6%

Flat Rate

11%

Reducing Rate

AED 2000K

Loan Amount

1%

Early Settlement Fee

AED 1000

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 11%
  • Minimum salary of AED 3,000 is required
  • The reduction rate and the flat rate is 11% and 6%. This denotes that the computation done was a division of the reduction rate by 1.833
  • It is not mandatory to transfer your salary to apply for this scheme
  • Finance up to AED 2,000,000
  • 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
  • Low minimum salary requirement is there for this scheme
  • Designed for buying goods such as furniture, electronics,boats, personal computers, building materials, machinery, motorcycles and jet skies.

Frequently Asked Questions

Q. Is it mandatory to be working or running any business to be eligible for the DIB Goods Finance?

A. Yes, only self-employed or salaried individuals are eligible for the DIB Goods Finance.

Q. How many post dated cheques do I need to give?

A. One post-dated cheque in the favor of DIB, with the total loan amount approved, is enough.

Q. Do I need to provide post-dated cheques to Dubai Islamic Bank only?

A. No, you need to provide the cheques to the bank where your salary is getting transferred to.

Q. Can I clear my loan before the tenure?

A. Yes, you can avail early settlement facility and clear your loan whenever you wish to.

Q. What are the fees for clearing my loan before the tenure?

A. You need to pay an early settlement fee of 1% and processing fee of AED 1000 before the tenure.

Dubai Islamic Bank

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.