Credit Bureau Consent, Welcome Offer & General Terms & Conditions
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United Arab Bank Islamic Business Finance
Islamic Business Finance
Features
- The reduction rate and the flat rate is 16% and 8.82%. This denotes that the computation done was a division of the reduction rate by 1.812
- Provides maximum finance amount of up to AED 1,500,000
- Early settlement fee is 5% of the finance amount
- Processing fee is 2% of the loan amount
- Repayment period is up to 36 months
- Provides minimum finance amount of up to AED 250,000
- 2 years minimum length of business is required to qualify for this finance
- The maximum annual turnover limit to be eligible for this finance is AED 600,000,000
- Minimum annual sales turnover of AED 3,000,000 is needed to apply for this finance
- You need to have a bank account with United Arab Bank to apply for this finance
- After successful submission of documents, within next 10 working days the bank will approve the loan
Required Documents
- Trade License should be valid
- All the partners and local partners are required to submit passport copies while applying for the finance
- All the partners and local partners are required to submit Emirates ID while applying for the finance
- Audited financials of last 2 years have to be submitted to the bank
- Application form
- Copy of share certificates
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
⭐ Do we need to have an account in United Arab Bank to apply for this finance?
A. Yes, you do need an account in United Arab Bank to apply for this finance.
⭐ Does the credit card form as part of the benefits to apply for this finance?
A. Yes, credit card is provided as part of this finance.
⭐ Does United Arab bank has restrictions on who can borrow from them?
A. The borrower must be a company or, if an individual is borrowing then it must be used for the given purpose only.
⭐ How does the bank decide my payment schedule?
A. Payment schedule can be daily, weekly or monthly basis, depending on borrowers interest.
⭐ When is the first payment due on my business loan?
A. First payment is due 30 days after your loan gets sanctioned.
United Arab
Headquartered in Sharjah, with over 25 branches across the UAE, United Arab Bank, P.J.S.C. (UAB), which was incorporated in 1975, has established itself as a leading banking services provider in the UAE. UAB has a Vision ‘of being the trusted partner and the UAE bank of choice for customers’ and a Mission of ‘offering a superior customer experience, creating shareholder value, and adopting an innovative banking approach while remaining loyal to the nation's heritage and contributing to the overall development of the UAE.’ UAB follows the values of :
- Integrity
- Customer Focus
- Competence
- Consistency
- Courteousness
Get in touch with United Arab Bank Customer Care