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Thank you for providing your details.Ajman Bank Personal Finance - Goods Murabaha for UAE Nationals
Personal Finance - Goods Murabaha for UAE Nationals
Features
- Required to submit bank account details for last 3 months
- The rates applicable depend on salary
- Finance repayment period is upto 48 months
- Only UAE Nationals can apply for this finance
- Required to submit quotation of the required goods addressed to Ajman Bank
- Minimum age of 21 years is required
- The loan is provided for a interest rate of 5.75%
- Minimum salary of AED 8,000 is required
- The reduction rate and the flat rate is 5.75% and 3.17%. This denotes that the computation done was a division of the reduction rate by 1.813
- It is a requirement to transfer your salary to apply
- Finance upto AED 3,000,000
- The early settlement fee is 1% of the outstanding amount to date
- Arrangement fee is 1% of loan amount
Benefits
- Specifically designed for buying goods such as furniture, electronics, home appliances, yachts, boats, motorcycles,building materials and machinery. Any goods not prohibited by Shariah
- Processing is quick
- Simple documentation
- You get free pre-approved credit card with lifestyle benefits
- Repaying period of upto 4 years
- Minimum salary requirement is low
- Takaful is offered free of cost
Frequently Asked Questions
⭐ What do I do if I want to change my mode of payment for installments?
A. You need to sign an ECS update form to change the mode of payment in Ajman bank.
⭐ When should I expect to hear about my personal loan application from Ajman bank?
A. You'll get to hear about your application within 24 hours of you applying for it.
⭐ Do we have to submit quotation of the required goods while applying for the given finance?
A. Yes, you need to submit quotation of required goods addressed to Ajman bank while applying for the given finance.
⭐ Do I need to have a guarantor or savings to take out a loan?
A. In Ajman bank you don't have to save in bank to borrow from bank. No need to provide guarantors for the given loan.
⭐ Do we need to pay pre-payment penalty in Ajman bank?
A. No, you need not pay any penalty for pre-payment.
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