It is important to understand the financial arrangement beforehand and what to expect out of it. Visit moneyingulf.com and their experts will help you in applying and will also brief you about all the intricate details involved such as:
The main feature of this loan is its mode of repayment. A specific amount of money is lent just like a personal loan however the repayment can only be made through that bank only by deducting the amount from the applicant’s salary. That is why salary has to be transferred to that bank.
Banks readily give out this option because they have a solid guarantee of repayment and can also monitor the income of the applicant. They can easily deduct the loan installment every month from the client’s account.
All loans have a special criteria and terms and condition that must be fulfilled. For acquiring this funding option you must have these credentials:
Documentation is important for availing this funding option. First of all you need to ensure that your employer is on board about transferring salary to this bank because certain companies only allow their employees to draw pay from specific banks. You will also need to submit these documents:
Copy of valid passport
UAE Emirates ID or proof of residency visa
Latest three months bank statement
The monthly installment amounts are low and affordable and you can repay in up to 24 months. It features low interest rates and Emirates NBD salary transfer loan has a 7 day loan return policy. There is no charge or minimum balance required to open up the bank account.
Emirates Islamic personal loan can make your dreams come true in Dubai, UAE. No hidden or additional charges in Emirates Islamic bank Personal loan. Wondering how to finance a lavish wedding ceremony in the family or are suddenly faced with funeral bills. Need to pay for emergency hospital bills or your child’s university fee?
Whether you need to buy a new place to live, a new car, or some extra cash for investing in an attractive entrepreneurial venture, this will conveniently cover your financing requirements.
Emirates Islamic Bank Presents
But modern banking often clashes with Islamic values and this can be a cause of concern for many. Emirates Islamic bank presents its clients with Sharia compliant banking options and offers you a wide range of financial solutions in line with Islamic rules and principles.
Emirates Islamic personal loan can make your dreams come true. Through it you can avail hassle free financing.
How does it work?
This sort of personal finance works primarily based on a Murabaha arrangement through trading of Sharia compliant items for instance shares or wakala certificates. It is a type of sales contract in which the bank sells Nasdaq certificates to the purchaser for a price equivalent to the Murabaha cost plus the profit.
Extremely competitive profit rates.
This financing option is given to salaried individuals.
As the client you will receive a pre-approved credit card.
You can borrow amounts of up to 2 million if you are an expatriate and 4 million if you are a UAE national.
Sharia complaint Murabaha structure followed.
The repayment terms are flexible and you can repay within 48 months or 4 years.
The processing is very simple, convenient, and hassle free.
Your expenses incurred will be lower than those expected with credit cards.
You can avail the option to consolidate all loans into a convenient repayment plan in which all monthly payments are made in the same installment.
Visit moneyingulf.com and their team will advise and guide you about the process and documentation involved in acquiring this loan. Brief they about your financing needs and they will help you through the application procedure.
Types of Loans & Credit – Different Credit & Loan Options
A personal loan from a reputable bank in UAE can be a godsend during times of financial crisis. It is a type of unsecured loan and with the right sort of agreement and repayment conditions you can easily pay off your debt in a time frame that suits you.
Get high Personal Loan amounts at low interest rates, with flexible repayment
Banks do not inquire the applicant about the purpose behind acquiring funds and one can turn to this option for a number of monetary emergencies such as medical issues, university fee, marriage ceremonies or funerals, etc.
RAK Bank Personal Loan
RAK bank personal loan is a great option to turn to during a financial fix because it features low interest rates and other attractive benefits such as:
Getting this funding approved is not a long process, you can avail quick approvals as a client.
Low and competitive interest rates.
You can top up the borrowed amount after a year.
You can switch to this bank from another without any hassle.
The repayment terms are flexible and one can return the loan in a period of up to 48 months.
There is no difficult documentation involved.
People can borrow amount up to 20 times their salary.
It is repaid by the bank deducting amount from the client’s salary.
This bank does not give the option of non-salary transfer, that is why you have to move your salary account to RAK bank. It is essential that you get your employers on board before contacting the bank because some companies do not agree to transfer their employees ‘salaries to banks other than of their own choosing.
Individuals aged about 21-65 years can avail this borrowing option.
Reaching out to any bank is never easy and you would surely be worried about the terms and conditions involved. You can set your concerns to rest and contact the team at moneyingulf.com and inform them about your intent to get an RAK bank personal loan. Their financial experts will review your income, credit history and other credentials and guide you accordingly. They will tell you whether you are an eligible candidate and if you will be able to repay the amount in given duration.
Carrying around cash has become outdated now and to keep up with modern fat-paced life, credit cards are the handiest mode of payment. You can these to make payments at malls, all sorts of shops, online shopping, movie theaters, etc.
Besides the convenience, incentives such as discounts, cash back options, and special loyalty points make them even more lucrative. Various banks have come up with attractive facilities to give maximum convenience to customers seeking this option as credit cards are the most sought after baking product.
Not everyone is confident about approaching a bank on their own; reach out to our team at moneyingulf.com and we will ensure that you get an approval within twenty-four hours given that you fulfill the criteria of the bank. Here is some information on the different types of credit card options at Citibank that you can avail:
Applicant has to pay AED 3000 annual fee and his/her minimum monthly income has to AED 36, 750. They can get AED 1500 credit and above 25,000 bonus sky miles.
In the first year, the fee is free. After this time period, the annual fee is AED 400 and you should earn a minimum income of AED 12,000.
The bank charges AED 1500 annual membership fee for this card and the applicant should have a minimum salary of AED 30,000. Perks include +30,000 thank you sign up points and AED 1250 statement credit.
There is no fee charge in the first year. After that the yearly fee is AED 750 and to apply for this card you need to have a minimum income of AED 15,000.
This card is fee free! And to apply for it you need a minimum salary of AED 8,000.