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Ajman Bank Home Finance for UAE Nationals
Home Finance for UAE Nationals
Features
- Follows Islamic banking principles
- UAE Nationals are eligible
- Minimum salary of AED 15000 is required
- Home Finance is provided at a fixed interest rate of 1.98%
- Home Finance is provided on a reducing interest rate of 3.59%
- Salary transfer to Ajman Bank account is not required
- Maximum loan amount provided is AED 15000000
- Takaful insurance for life and property is required
- 1% of the total loan amount is charged as processing fees
- The loan is provided for a maximum tenure of 25 years
- 20% of the property value should be paid as the down payment
- 1% of outstanding loan amount is charged on early settlement
Benefits
- Takaful life insurance is provided for free
- High finance is provided
- Quick processing and approval of the loan
- Less documentation
- Low-profit rates
- Follows sharia banking laws
- Can get pre-approval details
- Provides finance to both residential and commercial properties
Frequently Asked Questions
⭐ Can I get a loan for purchasing an under construction property?
A. Yes, Ajman bank provides loan for getting properties under construction.
⭐ Is the life insurance based on Islamic principles?
A. Yes the life insurance is based on takaful laws.
⭐ Can I get my property insurance done somewhere else?
A. No, you should get your property insurance from Ajman bank itself.
⭐ For how long the takaful life insurance provided for free?
A. The free takaful life insurance is provided for entire tenure.
⭐ What is the minimum salary required to be eligible?
A. The loan applicant must get minimum AED 15000 to be eligible for the loan.
⭐ How many months bank statements are required?
A. The applicant needs to provide last 6 months bank statements.
⭐ Are self-employed individuals eligible?
A. Yes, self-employed expats are eligible for the loan.
⭐ Do I need to pay something to get pre-approval?
A. Yes, fees of AED 3000 to be paid to get pre-approval details.
⭐ Is audited financial statements are mandatory?
A. Yes, for self-employed individuals audited financial statements are mandatory.
⭐ What is the minimum age for UAE Nationals to eligible for the loan?
A. UAE Nationals needs to be minimum 21 years to be eligible for the finance.
⭐ What is the maximum age for UAE Nationals to eligible for the loan?
A. The maximum age of UAE Nationals should be 70 years to be eligible for the loan.
Ajman
Ajman Bank, launched in 2009 is a young, agile Islamic commercial bank that is built on the values of trust, integrity, and transparency. The Emirate's government owns 25% in the bank which is again a strong support. Their way of measuring excellence is based on how efficiently you think they respond to your financial needs. They have brought the human touch back to banking by listening to you.
Ajman Bank Personal Finance is based on the Islamic financing structure of Murabaha, a commercial transaction which involves the buy and sale of goods that has been promised to be purchased by an ultimate buyer with an added profit margin.
Get in touch with Ajman Bank Customer Care