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Dubai Islamic Bank Liability Settlement Finance for UAE Nationals
Liability Settlement Finance for UAE Nationals
- Can settle existing debts
- Follows Sharia principles
- High finance is provided
- Repayment period is up to 4 years
- The rates applied will depend on the salary
- Only UAE Nationals can apply for this scheme
- Your debt liabilities are consolidated in one
- The loan interest rates starts from 11% onwards up to 21.99% (reducing rate)
- Minimum salary of AED 3000 is required
- The reduction rate and the flat rate is 11% and 6.06%. This denotes that the computation done was a division of the reduction rate by 1.814
- It is mandatory to transfer your salary to apply for this scheme
- Finance up to AED 4,000,000
- Early settlement fee is 1.05% of finance amount
- Arrangement fee is AED 1050
- Repayment period is long
- High loan amount is provided
- Dedicated Manager will assist you throughout the process
- Processing is quick
- Can settle existing debts
- Only UAE nationals are eligible
- Salary transfer is mandatory
- Can get finance based on sharia principles
- Interest rates are based on the applicant’s profile
Frequently Asked Questions
⭐ My loan application got approved, but I want to cancel it now. Is there any chance I can cancel it?
A. Yes, you can pay the cancellation fees and cancel your approved loan.
⭐ Do I need to pay any interest even if I cancel my loan?
A. Yes, you need to pay the interest calculated from the date of loan credited to your account to the cancellation date.
⭐ What if I don’t have a checkbook, how do I give post dated cheques to the bank?
A. Once your loan is approved you will be provided with a bank account and a checkbook.
⭐ Are only existing Dubai Islamic bank customers eligible for the liability finance?
A. No, even new customers are eligible to apply for Liability Settlement Finance in Dubai Islamic bank.
⭐ My company is not listed on the bank. Can I get a loan from Dubai Islamic Bank?
A. No, for Liability Settlement Finance in Dubai Islamic bank, your salary needs to be transferred to the Dubai Islamic bank account only.
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.
Get in touch with Dubai Islamic Bank Customer Care