Sharjah Islamic Bank Personal Loan

Sharjah Islamic Bank (SIB), founded in 1975, is a leading Islamic bank in the UAE. With SIB, you can find a wide range of Sharia-compliant banking products and services for individuals, businesses, and corporations.

Sharjah Islamic Bank Personal Loan
Sharjah Islamic Bank Personal Loan
Personal Loan Starting from 2.63%* Interest rate
  • Minimum Salary 5000 AED
  • EMI Tenure up to 48 Months
  • Lowest Interest Rates

Get personal loan at Lowest Interest Rate

  • Dubai
  • Abu Dhabi
  • Sharjah
  • Ras Al Khaimah
  • Ajman
  • Other

Among the offerings of the bank is personal finance or personal loans, which are available for multiple purposes. Whether it's for home renovations, education expenses, travel, or any other personal requirement, you can avail of these personal loans and enjoy a seamless borrowing experience.

With features such as flexible repayment terms, competitive profit rates, and efficient customer service, Sharjah Islamic Bank personal loans make for an excellent choice to cater to the financial requirements of different types of applicants.

Types of Sharjah Islamic Bank Personal Loans

Sharjah Islamic Bank offers multiple personal loans as discussed below -

  1. New Personal Finance - This type of personal finance offers liquidity to assist customers with various requirements such as weddings, travel expenses, home furnishing, rent payments, and personal essentials.
  2. Personal Finance for Liability Takeover - This product offers extra liquidity to help customers settle their existing liabilities with other banks within the UAE.
  3. Shares Murabaha - This product caters to customers who require liquidity by purchasing shares under Murabahah and having the option to liquidate them after acquiring ownership. 
  4. Goods Murabaha - It is designed for customers who wish to obtain financing for purchasing specific goods from local suppliers.
  5. Service Ijarah - This product is offered to customers who seek financing for specific services from local service providers - the list includes Umrah, education, medical treatment, travel, and house/flat rent.
  6. Additional Personal Finance/ Top-Up Finance - As the name suggests, this personal finance offers increased liquidity to help customers settle their existing liabilities with the bank and obtain additional funds to meet their other financial obligations.

Features and Benefits of Sharjah Islamic Bank Personal Loan

Here are the primary features and merits of obtaining Sharjah Islamic Bank personal loans in the Emirates:

  • The bank grants you a finance amount of up to AED 2,500,000
  • You have the flexibility to pay your 1st instalment after 150 days after availing of the loan.
  • The bank allows you to repay the finance amount within 4 years.
  • You can get personal finance at attractive profit rates with this bank.
  • Convenient application process and quick approvals 

Eligibility Criteria for Sharjah Islamic Bank Personal Loan

To be eligible for an SIB personal loan, you must fulfil the criteria mentioned below -

  • You must be at least 21 years old at the time of applying.
  • Your maximum age at the time of completion of finance tenure must be 60 years if you are a UAE expatriate. For UAE nationals, this limit is 65 years.
  • You must have a monthly salary of AED 5,000 or more.
  • You would be required to transfer your salary to an SIB account.
  • Your employer must be listed in the SIB-approved list of employers. 

Documents Required for Sharjah Islamic Bank Personal Loan

Given further is the set of documents required to apply for a Sharjah Islamic Bank personal loan in the UAE -

  • Completed and signed application form
  • A valid copy of Emirates ID
  • A valid copy of passport
  • Visa page (only for expatriates)
  • Latest 3 months’ bank statements (only if the salary is not transferred to the SIB account)
  • Salary transfer letter/ salary certificate addressed to the bank
  • Liability certificate issued by other banks (required only if applying for liability takeover) 

Sharjah Islamic Bank Personal Loan: Fees and Charges

Mentioned below are all the SIB fees and charges -

Type of Fees Charges
Documentation Fee 1.05% of the Finance Amount (minimum AED 525, maximum AED 2,625)
Early Settlement Fee 1.05% of the Principal Outstanding Amount (up to AED 10,500)
Partial Settlement Fee 1.05% of the Partial Payment Amount (max AED 10,500)
Late Payment Fee (Obligated amount to charity) AED 210
Rescheduling of Liability AED 262.5
Instalment Deferment Fee AED 105
Cancellation of Approved Transaction AED 105
Liability Letter/ No Liability Letter AED 63
Salary Advance Administration Fee AED 200
Other Fees (Audit Confirmation, Issuing Redemption Statement, Finance Copy) AED 26.25

How to Apply for Sharjah Islamic Bank Personal Loan?

Applying for an SIB Personal Loan is an easy process and takes minimal effort with All you need to do is continue on our website and move to the personal loan section. Fill out the lead form that appears on this page.

After submitting the form, you will be taken to our personal loan quotes page, wherein you can locate the SIB Personal Loan from the list. Go through its features, profit rates, terms, and conditions, and choose the option to apply for it. Once done, simply follow the prompted instructions and submit the form to initiate the process.

With, applying for a personal loan in UAE becomes a seamless procedure. However, besides this, you can also apply for an SIB Personal Loan on the bank’s official website. Alternatively, you can visit your nearest bank branch and carry out the loan application process if you wish to proceed offline.

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Sharjah Islamic Bank Personal Loan Calculator

Sharjah Islamic Bank personal loan calculator efficiently helps you in calculating your loan monthly instalments. This online tool is free for everyone and easily accessible through the bank’s website. All you need to do is provide a few pieces of information related to your nationality, loan amount, and loan tenure. Once done, your result will be auto-generated.

One of the prime benefits of using the calculator is that you don’t have to make any manual calculations, which further eliminates the chances of errors.

You can also utilise the personal loan calculator available on This tool is convenient to use and provides you with accurate results within seconds!

Note: A personal loan calculator should be used for reference purposes only. The actual loan instalments may differ from the calculator’s results as interest rates and other factors vary as per the applicant.

SIB Personal Loan Terms and Conditions

Enlisted below are some of the terms and conditions of the Sharjah Islamic Bank personal loan. 

  • In response to the customer's request, SIB has the authority to provide a provisional/principal offer for any finance product. However, it’s important to note that this offer should not be regarded as the final offer. Its validity is contingent upon the submission of all necessary documents and reports obtained from official financial institutions, both local and international. The bank reserves the absolute right to revise the offer details or withdraw it entirely at its discretion.
  • In the event that the finance is approved for multiple applicants (joint financing), all applicants acknowledge and agree to be jointly and severally liable for the outstanding finance amount.
  • The total Murabaha/financing profit amount is computed for the entire financing period, encompassing any grace period preceding the first instalment date.
  • The customer grants the bank authorisation to acquire and disclose any financial, legal, or credit-related information pertaining to the customer. This includes information obtained from third parties, such as local or international credit bureaus. Additionally, the bank reserves the right to verify, obtain, or disclose any relevant information concerning the customer's address and telephone details, as deemed appropriate at the Bank's absolute discretion. 

For detailed information, refer to the bank’s official website.

Check out some frequently asked questions regarding Sharjah Islamic Bank personal loans below - 

Frequently Asked Questions

Q1. What is the loan repayment tenure for Ministry of Defence personnel?

Ans: The maximum repayment tenure for Ministry of Defence personnel is 60 months.

Q2. Can I take up personal finance to pay my monthly rent?

Ans: Yes, you can apply for Ijarah services and pay your rent.

Q3. Does SIB charge any loan processing fee?

Ans: Yes, the bank charges 1.05% of your finance amount as a processing fee.

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