Month: October 2019

Personal Finance
Money Mall Team

Dubai Islamic Bank (DIB) – Islamic Personal Finance in Dubai

Dubai Islamic Bank (DIB) is the world’s first full-fledged Islamic bank. It was established in the year 1975 and has now around 32 years of experience in Banking. As of 2006 records, it is the sixth-largest commercial bank and the largest Islamic bank in the UAE in terms of total assets. Dubai Islamic Bank Islamic Personal Finance Let’s have a closer look at the Features of the Dubai Islamic Bank Personal loan. The loan can be used to buy furniture, vehicles, electronics, etc. Dubai Islamic Bank personal loan requirements and Features: Maximum Term: 48 Months Minimum Salary: AED 3000 Islamic Finance: Yes Early Settlement Charges: 0% Salary transfer: Yes, If Salary transfer is not opted for, the person applying for the loan should have a minimum salary of AED6000 to AED8000. Profit Rate 8.82% Early Settlement Charges- 0% Maximum Finance Amount- Up to AED 125,000 Upfront Fee AED 600-The arrangement fee will be a fixed amount between AED600 and AED800 Rate calculation: Reducing/Flat Reducing The Dubai Islamic bank personal loan interest rate is calculated on a reducing basis Dubai Islamic Bank personal loan minimum salary AED 3,000 Major Benefits The customer receives an upfront cash payment and moreover there is no early settlement fee. Documents required for a personal

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