Founded in 2007 on the principles of Shariah-compliant finance, Al Hilal Bank is one of the most prominent and trusted financial institutions in the UAE. Over the years, the lending institution has become renowned for its customer-centric approach while upholding Islamic values.
Get personal loan at Lowest Interest Rate
Al Hilal Bank offers a wide range of services including personal and corporate banking, wealth management, and investment solutions. In this article, we will provide you with all the relevant information on Al Hilal personal loan as well as related aspects such as benefits, application process, fees/charges, and much more.
Al Hilal Bank offers multiple personal loans products as mentioned below -
With this personal finance product, you can consolidate and settle your liabilities with other financial institutions in the Emirates.
You can opt for this type of finance for the following purchases -
You can get financing options for multiple goods and services such as -
You can avail of the Sukuk Finance option to purchase National Bond saving certificates as per your requirements.
The following table mentions the eligibility requirement for all Al Hilal personal loan products -
Al Hilal Bank Personal Finance | Eligibility Criteria |
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Sukuk Finance |
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Travel Finance |
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Settlement of Liabilities |
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Medical Finance |
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Education Finance |
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Rent Finance |
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Service Finance |
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Wedding Finance |
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Goods Finance |
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The set of documents required to apply for each Al Hilal personal loan is listed in the table below -
Al Hilal Bank Personal Finance | Documents Required |
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Sukuk Finance |
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Travel Finance |
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Settlement of Liabilities |
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Medical Finance |
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Education Finance |
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Rent Finance |
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Service Finance |
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Wedding Finance |
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Goods Finance |
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Refer to the table below to know the fees and charges associated with Al Hilal personal loans -
Type of Fee | Charges |
---|---|
Issuance of Letter of Guarantee | Free |
File Opening and Agency Fee/ Processing and Documentation Fee | 1.05% of the Finance Amount (Min - AED 525 and Max - AED 2,625) |
Liability Letter | AED 63 |
Cancellation of Application (Before Signing Agreement) | Free |
Life Takaful Fee (Per Month) | 0.013755% of the Outstanding Finance Amount |
Instalment Postponement Administrative Fees | AED 105 |
Early Settlement (Non-Waived Profit) | 1% of the Outstanding Murabaha Cost (Up to AED 10,000) |
Partial Payments | Free |
No Liability Certificate | Free |
Advance Payments of Instalments | Free |
Late Payment Amount- Each Missed Instalment (Payable to Charity) | AED 200 |
Replacement of Existing Post Dated Cheques OR Standing Instructions with UAE Direct Debit Authority- DDA | Free |
Here’s how you can use the Al Hilal personal loan calculator -
When it comes to an online personal loan calculator, it indeed saves time as you can easily calculate your loan repayment options without having to visit multiple banks or other financial institutions. In addition to this, by knowing the estimated monthly repayment amount, you can determine whether you can afford to take out a personal loan and make adjustments to your monthly expenses accordingly.
You can conveniently apply for an Al Hilal personal loan through our digital platform of policybazaar.ae. Simply navigate to the personal loan section from our website’s homepage and fill out the lead form with accurate information.
This will take you to our personal loan quotes page, where you can apply filters or find Al Hilal personal loans from the displayed list. Check the options carefully as per their features, click on the desired product, and follow the on-screen instructions to successfully complete the process.
Here’s what people are asking about Al Hilal Bank personal loans in the UAE -
Ans: No, with a monthly salary of AED 4,000, you are not eligible to get a personal loan from Al Hilal Bank. In fact, none of the financial institutions in the UAE offer a personal loan at a salary of AED 4,000.
Ans: The late payment fee for each missed instalment is AED 200.
Ans: You will need the following set of documents to obtain Al Hilal service finance -
Note: Apart from these documents, the bank may ask you for additional documents as well.