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 loan

1. Copy of Passport (with Residence visa for expatriates)
2. Salary and the End of Service Benefit Transfer Letter/Certificate from the employer
3. Statement of Account for a minimum of 3 months if the salary is transferred to another bank (6 months for self-employed professionals/ businessmen)
4. Copy of valid trade license (for self-employed professionals/businessmen)

Dubai Islamic bank personal loan details

The Dubai Islamic Bank Personal Finance offers

• Salam Finance

This product allows the customer access to cash. It is basically a sales contract wherein the Bank pays the price in advance, and the customer delivers the goods with certain specifications and a certain quantity on agreed future dates.

• Goods Murabaha

The Bank offers support to buy commonly used goods.

• Services Ijarah

The Bank also offers some services like

1. Rent In Advance
2. Medical Finance
3. Travel Finance
4. Education Finance
5. Wedding Finance

Please find the features  specified from the below link

http://www.dib.ae/personal-banking/finance

Personal Loans Details -Dubai Islamic Bank -Without Salary Transfer

Features

1. Maximum Loan Tenure-36 Months
2. Minimum Monthly Income/Salary-8000 AED
3. Profession-Salaried
4. Salary Transfer Mandatory-No
5. Minimum Tenure in Employment-6 Months
6. Charges
7. Processing Fee -500 AED

For further information on Personal loans for employees in Unlisted companies, please go through the link

Personal Loan in Dubai , Compare All UAE Banks – Get Loan in Dubai

Personal Loans Details -Dubai Islamic Bank – With Salary Transfer

Interest/Profit Rate -6 %

Features

1. Maximum Loan Amount-200000 AED
2. Maximum Loan Tenure-48 Months
3. Minimum Monthly Income/Salary-3000 AED
4. Profession-Salaried
5. Salary Transfer Mandatory-Yes
6. Minimum Tenure in Employment-6 Months
7. Charges
8. Processing Fee-500 AED

Links to branches of Dubai Islamic Bank in UAE

http://www.dib.ae/branch-locator

Below is a link to the general rules and regulations in Banking:

http://www.centralbank.ae/en/pdf/notices/RegulationsRegardingBankLoans.pdf

For more information on Dubai Islamic Bank,

Call: 00714 405 1888
Fax: 009714 4357434
Website: www.dib.ae