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Enjoy more from life with Emirates Islamic personal finance solutions. Now, you don’t need to wait to sort your personal finances.
Personal Finance is based on a Murabaha arrangement through trading of Shari’a compliant instruments like Shares or Wakala Certificates. Murabaha is a form of Shari’a compliant sales contract whereby Emirates Islamic (as a seller) sells Nasdaq Certificates to the customer for a price equal to the Murabaha Cost (the finance amount) plus the Murabaha Profit.
Eligibility and Criteria
Minimum monthly salary of AED 5,000.
Length of service – Minimum one month/first salary credit into Emirates Islamic account.
Minimum age of 21 years.
Maximum age of 65 for UAE Nationals and 60 for Expatriates at the time of maturity.
Rates and Fee
Profit rate starting from 6.47% Reducing.
Processing Fee :
|Certificates Murabaha||0.75% of finance amount (Min. of AED 500 and Max. of AED 2,500)|
|Shares Murabaha/Goods Murabaha/ Services Ijarah||1% of finance amount (Min. of AED 500 and Max. of AED 2,500)|
Certificate of Takaful / Insurance Cover.
KYC Documents Passport, Visa and Emirates Id Copy.
Completed application form.
Salary Transfer Letter.
Last 3 to 6 Month Bank Statement.
Payslips if applicable.
Maximum Tenure of repayment is upto 48 Months.
Maximum Loan amount can be availed up to 1 million for expatriates.
Salary Transfer to Emirates Islamic Bank is Mandatory.
Pre-approved credit card with first year’s annual fees waived off