Islamic Group Personal Finance

Islamic Group Personal Finance

Islamic Finance Solutions_Personal Group Finance

Click on above image to open the Islamic Group Personal Finance PDF

 

This Shari’ah compliant product offers you the flexibility of up to 60 months (5Years) Instalment payment with no deposit. The cost is fixed at the start of the Personal Finance Facility period and never changes. The customer pays the same monthly instalment for the full period of the Finance. This product is designed to respond to the needs of the members of staff of established businesses who seek Shari’ah compliant financing.

The NBC Islamic Personal Finance product does not require the customer to provide security and gives the peace of mind of knowing that Instalment payments are fixed for the full period of the finance facility. This Finance can be used for household goods, building materials, electronic goods etc., costing between 1,000,000 and 50,000,000. All of the items should be acceptable under Shari’ah. This product is based on the Murabaha Islamic finance instrument. The bank buys the goods on the client’s behalf and adds a profit margin.

Features of the Account:

  • Amount financed from 1M to 50M
  • For permanent & Contracted Employees
  • Competitive profit rates
  • Payments are made monthly through Salary deductions by the Employer
  • Flexible payment periods up to 60 months (5 years)
  • Price and monthly payments remain fixed for the
  • Period of financing
  • No deposit is required
  • Shari’ah compliant