Key Facts Statement (KFS)
Personal Finance

Making your dreams come true. This KFS provides you with indicative information about profit, fees, and charges of the Personal Finance product. Kindly refer to the Facility Offer Letter for the final terms of your finance facility

Product Information

Product Description Personal Finance is a finance facility, where repayments are made from salary and end of service benefit and/or any other regular income from a well-defined source.
Islamic Product Structure This product is based on the Shariah concept of Murabaha, a contract for the sale transaction of certain assets whereby the Bank sells the assets to the Customer for the cost and profit margin (markup) are made known and agreed by all parties. The Customer after purchasing and possessing the assets from the Bank, sells the same assets to third party and the sale proceeds are transferred to the Customer’s account. The settlement for the Murabaha purchase price can be either on a deferred lump sum basis or on an instalment basis as specified in the agreement.
Type of Finance
  1. Fresh/ New to Bank Finance- if you do not have an existing Personal Finance with us
  2. Debt Settlement (Buyout) Finance- to settle your liabilities with other banks
  3. Top-up Finance- additional finance on your existing Personal Finance with us
Finance Currency AED (United Arab Emirates Dirham)
Maximum Finance Tenor 48 months (60 months for Ministry of Defense staff)
Profit Rate Type Fixed Profit Rate (per annum)
Total Murabaha Profit Murabaha Profit = Finance amount * fixed profit rate per annum * tenure in years
Profit Rate Methodology for Repayment Schedule Equated Monthly Installment (EMI) profit will be calculated based on the effective rate methodology on reducing principal basis.
Monthly Installment (EMI) The EMI consists of 2 components a) Principal portion b) Profit portion.
Flat Profit Rate (indicative) Flat profit rate ranging from 2.00% up to 10.00% (per annum).
Annual Percentage Rate (APR) (indicative) APR is a reference rate, which includes applicable profit rate, fees, and charges of the product, expressed as an annualised rate.
Ranging from 2.38% up to 10.38% (per annum).

Fees & Charges*

Processing Fees 0.7875% of the Finance amount (minimum AED 525 and maximum AED 2,625) inclusive of Value Added Tax (VAT). This is a non-refundable fee, and will not be reimbursed in case you decide to withdraw the finance application.
Late payment Fee (obligated amount to charity)** AED 210 (inclusive of VAT) is billed only when we do not receive monthly repayment from you, in full on its due date.
Partial & Early Settlement 1.05% or AED 10,500 whichever is less (inclusive of 5% VAT)
*All charges, commissions and fees are inclusive of Value Added Tax (VAT) and/ or other similar sales tax.To review the latest schedule of charges please visit our website.
** The Bank shall pay any such amounts on behalf of the customer to a charity approved by the Bank’s Internal Shariah Supervision Committee, after deducting the actual expenses.

Sample Illustration (for reference purpose only)

Finance Amount AED 100,000
Flat Profit Rate 4.00%
Effective Profit Rate 7.47% (indicative)
Annual Percentage Rate (APR) 8,26% APR based on fixed profit rate of 7,47% (equivalent flat rate of 4%) per annum and processing fee of 0.7875%, takaful contribution of 0.71%
Finance Tenor 48 Months
Total Repayment Amount AED 116,000 (Total amount repaid over the entire tenor of the nance)
Total Profit Amount AED 16,000 [Finance amount (100,000) * Flat prot Rate (4%) * Tenure in years (4)]
EMI AED 2,416.67 [Finance Amount (100,000) + Total Profit Amount (16,000)]/ tenure in months (48)

Illustration on Early Settlement

Principal Outstanding 100,000
Early Settlement fee 1.05% on Principal Outstanding 1,050

Illustration on Partial Settlement*

Principal Outstanding 100,000
Partial Settlement Amount 10,000
Fee @1.05% on Partial Settlement Amount 105
*Any unpaid dues such as installment, fees, charges, and accrued prot will be collected rst (from the amount being settled).
Additional Information
  • Bank may from time to time, and at its sole discretion, change or amend any of the Terms and Conditions pertaining to this product. Such changes will be communicated to you with a 60-day prior notice
  • In case of a First Payment Date grace period, or a deferment of Instalment/ EMI, each deferred Installment / EMI will reflect as an increase in the total Finance Tenor/ Lease Term with additional months of repayment.
  • In case of early settlement, the Bank will have the right to collect the profit amount for any deferred installments during the Murabaha tenor which shall not exceed the total profit agreed upon in the Murabaha Contract.
  • While total profit is calculated on fixed flat rate methodology, the repayment schedule will be based on the effective rate which will result into higher profit recovery and lower principal repayment in start of the tenure and will subsequently inverse as the finance tenure progresses. In case of early settlement, the outstanding principal will be based on the repayment schedule and not on the straight-line profit calculation method
  • The finance amount you are eligible for and the profit rate offered may differ from the sample illustration as shown above. This will depend on your credit profile and affordability assessment done by the Bank.
  • The Bank reserves the right to request for security/ conditions, including but not limited to security cheques, guarantor, co-signer, salary transfer, etc
  • The cooling-off period allows you to cancel the product within five (5) business days of signing the application or offer letter and the Bank will not be able to proceed until this period expires, unless you waive this right. To cancel within this period, you must give the Bank notice.c.
  • You can contact the Bank for any enquiries, assistance or complaints at any of its branches or by visiting its website
  • “The Bank’s Terms and Conditions (including any relevant applications and documents) shall be read and implemented in line with this KFS”.
Warning !!!

You may have to pay penalties if you choose to pay off your personal finance early.

Warning !!!

If you do not meet the repayment/ payments on your personal finance on time and in full, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in future.

Warning !!!

Refinancing your finance facility may take longer to pay off than your previous finance facility and may result in higher profit payments.

Warning !!!

In case you fail to fulfil your obligations as per the product Terms and Conditions, before and during your relationship with us, there will be consequences including, but not limited to penalties.

Warning !!!

You are required to provide the Bank with copies of your updated documents at all times (Emirates ID, Passport, Visa, Trade License, etc.). Not providing these documents might result in charges, transactions being restricted, account being blocked, or account being closed.

Important Links

For Key Fact Statement and other important information visit (