Islamic finance is a financial system that operates according to Islamic law (which is called sharia) sharia-compliant

An Islamic finance is also available in Salary transfer /Non-Salary Transfer, where you need to follow the conditions as per respective finance.

Eligibility for Islamic finance

Being at least 21 years of age or below the age of 65 years.

The minimum income for most non-salary transfer loan is usually 5000, but it can change depending on the bank that you get the loan from.

Documents Required

There are certain numbers of documents required to get a salary transfer/non-salary transfer finance.

  • Complete application form.
  • A copy of your passport visa and emirates ID.
  • Salary certificate/Salary transfer letter and the bank statement for last 3/6 months.
The rate of interest depends upon your salary however there is also a processing fee for 1% and insurance fee of 1.25% once you are approved for loan, which can be vary within different banks.

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