Ajman Bank Personal Finance

Minimum Salary
5.000,00 د.إ

Flat Rate
3.69%

Reducing Rate
AED 5.99%

Maximum Term
4 Years

Monthly Payment
AED 2,450

Description

Ajman Bank’s Sharia-compliant personal finance delivers flat profit rates from 3.17% (UAE Nationals) and 3.30% (Expats) with equivalent reducing rates from 5.75% and 5.99% respectively. Customers benefit from high finance multiples (up to 8× salary), flexible tenures up to 48 months, transparent fees, and optional Takaful protection.

Features

1. Profit Rates and Finance Amounts

Ajman Bank offers Murabaha Standard Personal Finance under two profiles:

UAE Nationals

Flat profit rate from 3.17% p.a.; equivalent reducing rate 5.75% p.a.
Finance up to AED 5,000,000 (minimum AED 15,000).

Expatriates

Flat profit rate from 3.30% p.a.; equivalent reducing rate 5.99% p.a.
Finance up to AED 1,500,000 (minimum AED 15,000).

Eligibility Criteria

Applicants must satisfy:

Age between 21 and 65 years.
Minimum gross salary AED 6,500 p.m.
Minimum employment tenure: confirmed service or ≥3 months for Nationals; ≥6 months for Expats.
Salary transfer or salary credit to an Ajman Bank account.

Schedule of Fees and Charges

Fee Type	Charge
Processing Fee (new finance & top-up)	1% of finance amount (Min AED 500, Max AED 2,500)
Early/Partial Settlement	1% of outstanding or AED 10,000 (whichever is lower)
Takaful Protection Fee (per request, optional)	1% of finance amount
Instalment Deferment	AED 100 per deferment
Late Payment Charity Donation	2% of delayed amount (Max AED 200)
Credit Bureau Fee	AED 21
Direct Debit Authority Setup	AED 100
Finance Cancellation Fee	AED 100
Duplicate Statement	AED 45 per month

All charges as per Ajman Bank’s Tariff of Charges.

Documents Required

A standard submission includes:

Completed Ajman Bank personal finance application form.
Passport copy (and UAE residence visa for Expats).
Emirates ID copy.
Recent salary certificate or salary transfer letter (issued within 30 days).
Last 3 months’ bank statements.
Details of existing financing/liabilities.
Al Etihad Credit Bureau consent form.
Any additional documents as requested by Ajman Bank.

Additional Info

Ajman Bank Personal Finance delivers:

Competitive Shariah-compliant rates with flat and reducing options.
High finance multiples up to 8× monthly salary for greater purchasing power.
Flexible tenures up to 48 months with optional instalment deferments.
Optional Takaful protection covering the outstanding balance.
Quick digital pre-approval and streamlined application process.
Additional facilities such as salary advance service and preferential merchant offers.