Al Tayseer Personal Finance
- You may have to pay penalties if you pay off a loan/financing early.
- If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future.
- Refinancing your loan/financing may take longer to pay off than your previous loan/financing and may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit.
Al Tayseer Personal Finance
NBQ Islamic Banking Window offers Al Tayseer Personal Finance, which is approved by the NBQ Shari’ah Board and is based on Commodity Murabaha principles.
Features and Benefits
- Maximum finance amount up to 20 times salary for UAE Nationals
- Maximum finance amount up to 10 times salary for Expatriates
- Competitive profit rate
- Repay your finance over 48 months
- Free Debit/ATM card
Fees and Charges
- Processing Fee 1% of finance amount minimum AED 500 and maximum AED 2,500
Eligibility
UAE Nationals:
- Available to customer minimum 21 years of age and 65 years of age at maturity of finance
- For applicants under the age of 21, a Guardian can act as Guarantor and sign on your behalf
- Salary transfer to NBQ is required
- No minimum service period required with your current employer
- Minimum monthly salary criteria applies
For Expatriates:
- Available to customer minimum 25 years of age and 55 years of age at maturity of finance
- Salary transfer to NBQ is required
- Minimum length of service of 2 years with your current employer
- Minimum monthly salary criteria applies
Documents Required
- Valid Copy of passport and emirates ID
- Documents showing monthly salary transfer (e.g. salary transfer letter, bank Statement)
- Other documents may be requested at the discretion of the bank.
Subject to the terms and conditions of Islamic banking unit – National Bank of Umm Al Qaiwain
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