Personal Loans for Salaried Expats in Dubai from SIB

Personal Loans for Salaried Expats from SIB in Dubai

Sharjah Islamic Bank or SIB offers two types of personal loans namely Service Ijarah and Goods Murabaha loans, both of which have almost the same features and benefits except for the purpose for which they are given.
While the service loan is extended for travel, education, medical, wedding and rent, the goods loan is given for purchase of goods including machinery, furniture and domestic appliances. Travel finance includes air fare to Haj and Umrah. In both cases the profit rate charged will be 5.5% if the repayment period is 36 months. Maximum loan amount you can get as personal loan is AED 300,000 for both categories.
You get a three-month grace period on the first installment to be paid. Personal loans from SIB are Shari’a-compliant. You need to be working in a semi-Government or Government organization to be eligible for SIB personal loans.

Requirements to apply for a personal loan from SIB are:

Valid UAE residence Visa
Letter from employer
Bank statements for the last 3 months
Salary transfer letter
Original passport or UAE national ID
In case of Goods Murabaha loan, original quotation from the goods dealer in the name of the Bank

SIB Expats Personal Loan in Dubai

Unsurpassed levels of customer service and their satisfaction have been responsible for the continued growth and reputation of Sharjah Islamic Bank. The Bank’s unique strategies for development and its unambiguous policy of effective cost-control and risk management have led to the successful diversification of a series of Shari’a-compliant products and services in the retail, corporate and international banking operations all over UAE.

Dubai – Amazing growth

Termed as the fastest growing city in the world, Dubai, the second largest Emirate in the UAE, with its multi-cultural population and several man-made wonders that attract a large number of tourists every year, is one of the countries that have the highest per capita income in the world.
To avail of a personal loan in Dubai from SIB, fill in the form on this page and a representative will soon contact you to offer assistance.