بنك البركة

Al Baraka Bank – Albaraka Education Loan

16.75%

Advertised Rate

2,810

Monthly Repayment

250,000

Loan Amount

Type of Loan - No Salary Transfer

No Salary Transfer

With Salary Transfer

Features & Benefits

Loan Amount

250,000

Loan Term

Up to 5 years.

Competitive Interest Rate

Free life insurance.

Features

  • The minimum age should not be less than 21 years old, and the maximum age is 65 years old
  • The banking Finance program is compliant with Islamic law
  • An easy and quick approval process
  • Tuition fees could be paid for more than 1 student at the installment maturity date
  • Receiving a Reward in case of early settlement
  • Salary transfer is not required
  • Issuing a cheque to the University or the school at the tuition installment maturity date

Documents Required

  • Valid National ID
  • Recent residence utility bill (maximum 3 months)
  • Commitment letter to transfer the salary from the employer
  • Loan application form

Fees & Charges

  • 2.5% administrative fee for personal banking

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