Dubai Islamic Bank Al Islami Goods Finance for UAE Nationals
Features
- Repayment period is up to 4 years
- Only UAE Nationals can apply for this scheme
- 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 4,000,000
- 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. Are self employed individuals eligible for the Goods Finance?
A. Yes, self-employed individuals are eligible for the DIB Goods Finance.
Q. Do I need to provide any proofs regarding my usage of the loan on the goods?
A. You need to provide a quotation for all the goods that will be purchased with the loan amount received.
Q. Do I need to open an account on DIB?
A. No, it is mandatory to open a savings/current account in DIB.
Q. How many months bank statements do I need to provide?
A. You need to submit minimum 3 months bank statements of account where your monthly income is getting transferred.
Q. Can I withdraw my loan anytime from Dubai Islamic Bank?
A. Yes, you can settle your loan anytime in Dubai Islamic bank.
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.