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SAMBA Al Khair Salary Transfer Finance

SAMBA Bank

WarningMessage This product is discontinued by the Bank

Al Khair Salary Transfer Finance

Minimum Salary

AED 5K

Flat Rate

4.96%

Reducing Rate

9%

Loan Amount

AED 600K

Early Settlement Fee

1%

Arrangement Fee

1%

minimum salary

AED 5K

Minimum Salary

flat rate

4.96%

Flat Rate

reducing rate

9%

Reducing Rate

max finance

AED 600K

Loan Amount

early settlement fee

1%

Early Settlement Fee

arrangement fee

1%

Arrangement Fee

Features

  • Repayment period is up to 4 years
  • The loan is provided for a interest rate of 9%
  • Minimum salary of AED 5000 is required
  • The reduction rate and the flat rate is 9% and 4.96%. 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 600,000
  • Early settlement fee is 1% of finance amount
  • Arrangement fee is 1% of loan amount

Benefits

  • Can get up to AED 600,000 loan amount
  • Takaful is provided free along with this scheme
  • Repayment period is long
  • Guarantors are not required to apply for this scheme

Frequently Asked Questions

⭐ Do we require any collateral to apply for Samba salary transfer finance?

A. No, you need not provide collateral or guarantors to apply for Samba salary transfer finance.

⭐ What is the maximum amount that Samba salary transfer finance can provide?

A. The maximum amount that Samba salary transfer can provide is up to 20 times your salary.

⭐ Will my credit score get checked before approving my application?

A. Yes, bank will check your credit score and on the basis of that your interest rates and loan amount will be provided to you.

⭐ How are the rates calculated for Samba salary transfer finance?

A. For Samba salary transfer finance rates are calculated on a reducing balance.

⭐ Do I need to maintain any minimum balance in the account?

A. No, there is no requirement of maintaining a minimum balance in the account.

SAMBA

Established in 1980 through a Royal decree and headquartered in Saudi Arabia, SAMBA has evolved into the region’s most acclaimed financial services group. Having a presence in GCC, Europe and South Asia including London, Dubai, Qatar and Pakistan, SAMBA is the most internationally awarded bank in Saudi Arabia and the Middle East. They follow the values of :

  • Dedication to customers
  • Commitment to employees
  • Constant improvement approach
  • Fulfilling Corporate Social responsibility
  • Superior returns to investors

SAMBA offers a wide range of Shariah-compliant Personal Finance solutions to match the different requirements of customers

   Get in touch with SAMBA Customer Care

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