Personal Loans for Salaried UAE Nationals in Dubai from SIB

Personal Loans for Salaried UAE Nationals from SIB in Dubai

Two types of personal loans namely Service Ijarah and Goods Murabaha loans are advanced by Sharjah Islamic Bank or SIB. Both the loans are characterized by the same features and benefits except for the purpose for which they are given.
The Ijarah service loan is given to meet travel and educational expenditure, medical treatment, wedding expenses and rent. The goods Murabaha loan is given for purchase of goods including machinery, furniture and domestic appliances. You can avail of this loan to go on Hajj and Umrah pilgrimage trip.
In both cases the profit rate charged will be 3.03% if the repayment period is 36 months. Maximum loan amount you can get as personal loan is AED 300,000 for either category or 20 times your salary whichever is less.
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:

Letter from employer
Bank statements for the last 3 months
Salary transfer letter
Valid UAE residence Visa
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 UAE Nationals Personal Loan in Dubai

National Bank of Sharjah, now known as the Sharjah Islamic Bank was started in 1975 with its headquarters in Sharjah, UAE. SIB became the first bank in the world to convert from traditional to Islamic banking in 2002.
This change in the banking system brought in specialised products and services and the accounting and operational activities were changed to adhere to Islamic regulations. The role played by SIB in the economic and social development of the society is proactive and the banking practices are so designed as to meet the financial requirements of a large and varied customer base.

Dubai – Significant Development

The economy of Dubai has seen excellent growth in the last thirty years. Its economy is diversified with a huge focus on sectors like finance, retail trade, healthcare, tourism and real estate. Millions of tourists from all parts of the world visit Dubai every year. All the above sectors have shown consistent growth and contribute to the economy thereby facilitating great expansion and diversification.
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.