Aafaq Finance Personal Loan

With a quick and transparent application process, you can access funds without the hassle of excessive paperwork. Keep on reading to know more about the personal finance of Aafaq Finance in detail.

What are the Features of the Aafaq Finance Personal Loan?

Mentioned below are the primary features of the Aafaq Islamic Finance personal loan —

• High finance amounts starting from AED 15,000
• Flexibly pay off the loan amount within 4 years
• Simple and quick documentation process
• Low profit rates

Are You Eligible for Aafaq Islamic Finance Personal Loan?

The eligibility requirements for the Aafaq personal loan are as follows —

Eligibility Type	Criteria
Minimum Age	21 years
Maximum Age	65 years
Minimum Monthly Salary	AED 5,000

Which Documents Do You Need to Apply for an Aafaq Finance Personal Loan?

For your Aafaq personal loan application in the UAE, you need to provide the following documents as per the applicable category —

For UAE Nationals	For Expatriates
Passport Salary Certificate Latest 6 Months’ Bank Statements Completed Application Form	Passport UAE Residence Visa Salary Certificate Latest 6 Months’ Bank Statements Completed Application Form

Note

• All documents must be valid
• Keep the originals and copies of each document handy
• If necessary, Aafaq Islamic Finance may ask you for further documents or details

Apply for a Personal Loan via Paisabazaae.ae

Paisabazaar.ae allows you to find the best personal loan in uae for yourself wisely. The steps are quite easy —

1. Start by filling out the loan lead form
2. Submit it and get quotes
3. Check out the list of loans and explore your options 
4. Select one and apply

Reach out to us at 800 728 4647 or drop us an email at communication@paisbazaar.ae.

When you apply for personal finance through Paisabazaar.ae, you get to enjoy perks such as —

• Several loan options across multiple banks
• A unique platform where you can compare loans from various banks
• Designated experts for all your loan-related queries
• Quick and hassle-free loan processing

Aafaq Islamic Finance Personal Loan Calculator

Online personal loan calculators in UAE help you estimate your monthly repayments, total loan costs, and profit amounts based on details such as loan amount, tenure, and rate. Offered by banks and financial institutions, these calculators provide quick, transparent results, enabling you to plan finances effectively before applying for a loan.

Click here to access the personal loan calculator on Paisabazaar.ae for free! With this tool, you can simplify complex calculations, save time, and easily compare various loan offers to make informed decisions.

Aafaq Islamic Finance Personal Loan — Scheduled Fees and Charges

Tabled below is the schedule of fees and charges for Aafaq personal loan in UAE —

Type of Fee	Charges
Processing Fee	1% of the loan amount Minimum — AED 500 Maximum — AED 2,500
Delayed Payment	Up to AED 200
Finance Cancellation Fee	AED 100
Early Settlement Fee	The lower of  1% of the outstanding amount AED 10,000
Deferment of Instalment	AED 100
Takaful Insurance Fee	1% of the finance amount
Advance EMI Payment	1% of the outstanding amount (maximum fee AED 10,000)
Others — Audit Confirmation, Finance Copy, Issuing Redemption Statement	AED 25

Aafaq Finance Personal Loan — Terms and Conditions

Find below the major terms and conditions of the Aafaq personal loan —

• The total repayment amount does not include event-based fees, such as a late payment donation, which only apply in specific circumstances (e.g., failure to pay on time).
• If the customer does not comply with the agreed terms and conditions, Aafaq Finance reserves the right to take corrective measures. These may include terminating the financing relationship, restricting account access, imposing applicable charges as outlined in the signed agreement, applying penalties, or reporting adverse information to relevant credit agencies. The Customer may also be subject to additional risks and consequences as detailed in the Key Facts Statement (KFS).
• Aafaq collects personal data, strictly for lawful and specific purposes directly related to the provision of personal finance services. It is mandatory for customers to provide accurate and complete personal information as part of the financing process.
• Aafaq may decline to proceed with any service requests or instructions if the customer fails to follow required procedures, provides incorrect information, or acts in a manner that contravenes applicable laws in the UAE.
• Furthermore, Aafaq reserves the right to amend its fees, charges, terms and conditions, including its profit calculation methodology. Customers will be informed of such changes with at least 60 days’ prior written notice sent to their registered contact details.
• Aafaq commits to completing the financing process within 10 full business days from the date the contract is signed, subject to the submission of all required documentation and fulfillment of applicable terms. Should this timeframe not be met, the Customer will be notified by email or SMS regarding the delay and the revised completion date. If the delay exceeds 10 business days, the customer may cancel the contract at no additional cost or penalty.

You may refer to the bank’s official website for detailed T&C.

Frequently Asked Questions