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Emirates Islamic Business Finance
Business Finance
Features
- The reduction rate and the flat rate is 14.51% and 8%. This denotes that the computation done was a division of the reduction rate by 1.813
- Provides maximum finance amount of up to AED 20,000,000
- Early settlement fee is 5% of the finance amount
- Processing fee is 1.5% of the loan amount
- Repayment period is up to 48 months
- Provides minimum finance amount of up to AED 500,000
- 1 years minimum length of business is required for UAE Nationals and 2 years for Expats to qualify for this finance
- Minimum annual sales turnover of AED 1,500,000 is needed to apply for this finance
- You need not have a bank account with Emirates Islamic bank to apply for this finance
- After successful submission of documents, within next 10 working days the bank will approve the loan
Required Documents
- Tenancy contract
- Audited financials of last 2 years have to be submitted to the bank
- Need to provide bank statements of last 6 months
- Buyers are suppliers list has to be provided
Benefits
- Finance amount is high
- Long and flexible repayment period is provided by bank
- A dedicated relationship manager guides you throughout the process
- Documentation process is simple and easy
Frequently Asked Questions
⭐ What is the minimum length of business required to apply for this finance?
A. The minimum length of business required to apply for this finance is 2 years for Expats and 1 year for UAE Nationals.
⭐ Will my credit get better if I wait for sometime and then apply for business loan?
A. No, credit doesn't get better with time, it generally gets worst with time.
⭐ Will I be charged for my application for business loan?
A. No, you will not be charged by Emirates Islamic bank for your application form.
⭐ What can be the length of my loan?
A. Depending on ho much is being financed, length of loan can be up to 48 months.
⭐ I already have a business but I want to expand it. Will I be provided loan for expansion of business?
A. Yes, bank will carefully evaluate your company's profitable business plan record and the expansion plan presented before approving your loan.
Emirates Islamic
In order to deliver high standards of banking services, Emirates Islamic Bank was established in the year 2004. The bank is aimed to deliver services in accordance with the standards of Shariah principles. It offers a wide range of products that are designed exclusively for individuals, small businesses and large corporations.
Get in touch with Emirates Islamic Customer Care