Islamic Personal Financing
Individuals borrow personal loans from banks. Personal loans are not secured by any assets, and are not the same as home or car loans. Being unsecured, creditors have no collateral to auction in the event of default.
A bank personal loan can be used to invest in a business, renovate your home, wedding expenses, family vacations, education fees, buying electronics or household appliances, clearing unexpected medical expenses, or any other emergency.
To apply for a personal loan, one must be able to prove that you have a regular source of income. This applies to employees, self-employed business owners, or students. Your employer, credit history, age of employment, occupation, ability to repay the loan, and residence are general conditions that will be evaluated by the bank.
- Fast Loan Approval.
- Consolidate Debt
- Cash in Hand
- Low Interest Rate
- Lower Late Payment Fees
- Fixed Refund Amount