Al Tayseer Personal Finance

Get up to 20 times salary at a competitive profit rate
Get up to 20 times salary at a competitive profit rate
Warning:
  • 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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