• Dubai, United Arab Emirates

Description

Get high Personal Loan amounts at low interest rates, with flexible repayment of up to 48 months for expatriates and UAE nationals (60 months for Armed Forces Staff).

Major Advantage: High finance amount, Low salary requirement

Points to Consider: There is a processing fee

Main Features / Benefits

  • Major Feature: Free RAK BANK Credit Card free for life
  • Minimum Salary Requirement: AED 5,000
  • Reducing Rate (as advertised): 5.99% p.a.
  • Flat Rate: 3.18% p.a. (as per 4 years calculation)
  • Processing Fees: 1% of the finance amount (Min AED 500, Max AED 2,500)
  • Maximum Finance Amount: AED 1,250,000 (up to 20 times of salary)
  • Islamic Finance: Yes
  • Maximum Term: 48 Months; 60 Months for Armed forces employees
  • Salary Transfer: Compulsory
  • Early Settlement Fees: 1% of outstanding amount
  • Insurance: Yes, a nominal amount will be charged
  • Holiday Period: Yes, Client can apply for one-month deferment after 6 months payments
  • Salaried/Self Employed: Only Salaried can apply

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