# Sharjah Islamic Bank Personal Loan

**Original Url:** https://www.paisabazaar.ae/personal-loans/sharjah-islamic-bank-personal-loan/

Sharjah Islamic Bank personal loan, based on a Sharia-compliant structure, gives you a flexible and convenient financing solution for various purposes. With competitive profit rates, high financing amounts, easy repayment terms, and many other perks, you can easily use an SIB personal loan for home improvements, education, travel, unexpected expenses, and more. ...read more

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.

Table of Content

*   [Types of Sharjah Islamic Bank Loans](#types-of-sharjah-islamic-bank-loans)
*   [Sharjah Islamic Bank Personal Loan — Benefits and Features](#sharjah-islamic-bank-personal-loan-—-benefits-and-features)
*   [Sharjah Islamic Bank Personal Loan Eligibility](#sharjah-islamic-bank-personal-loan-eligibility)
*   [Sharjah Islamic Bank Personal Loan Documents Requirement](#sharjah-islamic-bank-personal-loan-documents-requirement)
*   [Apply for a Personal Loan via Paisabazaar.ae](#apply-for-a-personal-loan-via-paisabazaarae)
*   [Sharjah Islamic Bank Personal Loan — Fees and Charges](#sharjah-islamic-bank-personal-loan-—-fees-and-charges)
*   [Calculate Sharjah Islamic Bank Loan Instalments](#calculate-sharjah-islamic-bank-loan-instalments)
*   [SIB Personal Loan — Terms and Conditions](#sib-personal-loan-—-terms-and-conditions)
*   [How to Contact SIB?](#how-to-contact-sib)
*   [Frequently Asked Questions](#frequently-asked-questions)

## Types of Sharjah Islamic Bank Loans

SIB personal finance can be divided into three separate categories. Here is an overview of the categorisation based on the purpose —

| Goods Finance | Services Finance | Cash Liquidity |
| --- | --- | --- |
| ☑️Electronics<br>☑️Furniture<br>☑️Personal Computers & Laptops<br>☑️Machinery, Boats, & Motorcycles<br>☑️Building Materials & Tools<br>☑️Household Appliances | ☑️Education<br>☑️Medical Expenses<br>☑️Wedding & Event Expenses<br>☑️Flat/ House/ Office/ Shop Annual Rent<br>☑️Umrah<br>☑️Holiday Packages/ Air Tickets | ☑️Shares Finance<br>☑️Bonds Finance |

## Sharjah Islamic Bank Personal Loan — Benefits and Features

Unlock a wide range of benefits with a Sharjah Islamic Bank personal loan in the UAE —

✅Finance amount of up to AED 2,500,000

✅Maximum repayment period of 48 months

✅First instalment deferment period of 150 days

✅Quick approvals

✅Consolidate existing liabilities with additional personal finance

## Sharjah Islamic Bank Personal Loan Eligibility

Here are the eligibility criteria for SIB personal loans — 

### 1- Age:

Minimum Age — 21 years

Maximum Age (at the completion of finance tenure)

*   UAE Nationals — 65 years 
*   UAE Expats — 60 years  

### 2- Monthly Salary:

Minimum — AED 5,000 

### 3- Salary Transfer:

Mandatory   

### 4- Employment Status:

Your employer must be present in the ‘approved list of employers’ of the bank. 

## Sharjah Islamic Bank Personal Loan Documents Requirement

Here is the list of documents mandatory for loan application processing —

✅Emirates ID

✅Passport

✅UAE Residence Visa (applicable to expats)

✅Salary Transfer Letter/ Salary Certificate

✅Latest 3 Months’ Bank Statement

✅Liability Certificate 

## Apply for a Personal Loan via Paisabazaar.ae

With Paisabazaar.ae, you can conveniently apply for a personal loan in UAE.

**Simply follow these steps —**

Step 1: Submit the lead form after filling it out correctly

Step 2: Choose the preferred loan and apply

Step 3: Wait for a ‘Successfully Applied’ message on the next page

**Apply for Personal Loan Now!**

**Here’s why Paisabazaar.ae is the best platform for you —**

☑️Our partnership with top lending institutions allows you to choose from a wide range of loan options.

☑️Compare and select your preferred product on the same platform

☑️Our customer support team is always ready for assistance

☑️Access our website’s ‘Articles’ section for free and fetch all the key loan-related information

## Sharjah Islamic Bank Personal Loan — Fees and Charges

The key fees and charges of the Sharjah Islamic personal loan include —

| Type of Fee | Charges |
| --- | --- |
| Early Settlement Fee | The lower of 1.05% of the principal outstanding amount<br>AED 10,500 |
| Partial Settlement Fee | 1.05% of the principal outstanding amount (maximum AED 10,500) |
| Late Payment Fee | 1.05% of the outstanding unpaid instalment amount (max AED 210) |
| Liability/ No Liability Letter | AED 63 |
| Finance Top-Up | 1.05% of the top-up amount Min fee — AED 525<br>Max fee — 2,625 |
| Documentation and Study Fee | 1.05% of the finance amount Min fee — AED 525<br>Max fee — AED 2,625 |
| Cancellation of Approved Transaction | AED 105 |
| Others (Issuing Redemption Statement, Audit Confirmation, and more) | AED 26.25 |

## Calculate Sharjah Islamic Bank Loan Instalments

SIB offers an [online loan calculator](https://www.paisabazaar.ae/personal-loans/personal-loan-calculator-uae/) for efficient calculation of monthly instalments. These free online tools are easily accessible and give you an instant breakdown of your financial commitments. All you need to do is enter a few key details such as loan amount, tenure, and interest or profit rate.

An online loan calculator lets you compare different loan options, plan your budget effectively, and make informed financial decisions. Many banks and financial institutions, including SIB, provide free calculator access on its website, ensuring transparency.

Likewise, you can use Paisabazaar.ae’s calculator for free. Simply provide the necessary details and get an automated result in seconds.

Personal Loan EMI Calculator

Total Interest AmountAED 0

Monthly InstalmentAED 0

Total Payable (Principal + Interest)AED 0

Loan Amount

AED

10,00010,000,000

Interest Rate

%

150

Reducing Rate (1% - 50%)

Loan Tenure

1240

(Minimum & Maximum Months)

## SIB Personal Loan — Terms and Conditions

Given are some of the Sharjah Islamic Bank personal loan terms and conditions —

*   The finance amount, profit rate, fees, and other terms will depend on the applicant’s profile and require approval from SIB
*   For Goods Murabaha or Service Ijarah, the customer must make the down payment before SIB releases any funds — this payment must come from the customer’s own funds
*   If requested, SIB may provide a provisional or in-principle offer for a finance product 
    *   Note that this is not a final offer — it depends on the submission of all required documents and financial reports from both local and international institutions
    *   The Bank has the full right to change or cancel the offer at its discretion
*   The total Murabaha/financing profit is calculated for the entire financing period, including any grace period before the first instalment
*   The instalment payment date will be set according to the customer’s monthly salary transfer date
*   If the finance is granted to multiple applicants (joint financing), all applicants agree to be equally responsible for repaying the outstanding amount

📝**Note:** Visit SIB’s official website for detailed terms and conditions.

## How to Contact SIB?

SIB’s phone banking service is available 24/7.

Dial 📞 +97165999999 if you’re currently residing in the UAE.

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## Frequently Asked Questions

### Q1. I want to settle my SIB personal loan early. How much early settlement fee will be charged?

The early settlement fee is 1.05% of the principal outstanding amount. Note that the maximum fee possible is AED 10,500.

### Q2. Is salary transfer mandatory for a Sharjah Islamic personal loan?

Yes, you must transfer your salary.

### Q3. Is there a loan deferment period for the SIB personal loan?

Yes, you get a loan deferment period of 150 days before paying the 1st instalment.

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