Dubai Islamic Bank Al Islami Goods Finance for Expats

Great For

• Specifically designed for buying goods such as furniture and electronics.
• Long repayment period.
• There is a low salary requirement to apply for this finance.

   

   

  

  The Basics

  AED 3,000 Min Salary

  Reducing Reducing/Flat

  from 6%

  Flat Rate
  (est. equivalent) ?

  from 11%

  Reducing Rate
  (As Advertised) ?

  AED 1,000 Upfront Fee

  AED 1,000,000 Max Finance Amount

  0%

  Early Settlement Fee

  Yes Salary Transfer

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  Main Benefits

  This finance is given against sharia-complaint goods.

  Overview of features

  • You require a minimum salary of AED 3,000 per month to be eligible. If you don’t wish to transfer your salary then you need a minimum salary of AED 6,000 and a minimum salary of AED 8,000 (for companies not listed).
  • The reducing rate of this finance is 11% and the equivalent flat rate is 6%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only
  • If you transfer your salary, the rate starts at 11%. If you do not transfer your salary, the rate starts at 17%.
  • Arrangement fee is a fixed amount between AED 1,000 and AED 2,500
  • Finance repayment period is up to 48 months
  • If a customer decides to settle their finance early, there is no early settlement fee. However, the total outstanding profit to be paid is at the bank's discretion, and will be decided at the time of settlement.
  • It is a requirement to transfer your salary to apply