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Standard Chartered Saadiq Personal Finance

Standard Chartered Saadiq Personal Finance
Minimum Salary

30,000 AED

Flat Rate

4.16 %

Reducing Rate

7.55%

Max. Term

4 Years

Salary Transfer

Yes

Islamic Finance

Yes

Description

A personal finance that allows you to borrow up to 20 times your monthly income. Apply in just five minutes.

Features

Minimum Salary Requirement: AED 30,000

Reducing Rate: 7.55% p.a. (It can vary with the profile of the customer)

Flat Rate: 4.16% p.a. (as per 4 years calculation)

Processing Fees: 1% of the finance amount (Min. AED 500, Max AED 2,500)

Maximum Finance Amount: AED 500,000

Islamic Finance: Yes

Maximum Term: 4 Years

Salary Transfer: Compulsory

Early Settlement Fees: 1% of principal outstanding amount

Takaful: Not Compulsory

Holiday Period: Yes, you may defer two instalment payments in a 12 month period. Subject to eligibility

Salaried/Self Employed: Only Salaried customer can apply

Other Features:  Top up facility.

Documents Required
  • Valid Passport, UAE Residency Visa and Emirates ID (original).
  • Salary Transfer Letter in Standard Chartered Bank format.
  • Salary Certificate (in case of Take Over finance).
  • Latest 3-month bank statement.
  • Liability Letter (in case of Take Over finance).
Additional Info
  • All info mentioned can change at any point in time as per the discretion of the Bank. The Bank will determine eligibility. All info above is subject to change.
  • Reducing Rate is converted into Flat Rate as per 4 years calculation.
  • Shariah Approved: Approved by an independent Shariah Supervisory Committee, so you can bank worry-free while complying with Islamic Banking principles.
  • Terms and conditions apply. 
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