Sharjah Islamic Bank launches personal finance Summer Offer

SHARJAH: Sharjah Islamic Bank has launched their Splendid Summer Offer – a new personal finance product with rates starting from only 2.99 percent.

The move is part of the bank’s commitment to provide the best offers on a range of products.

The new offer aims to provide the best rates on personal finance, which will also enable personal finance clients to benefit from reduced rates on all personal finance products. These banking products include National Bonds, Shares Murabaha, Education Finance, and Goods Murabaha among other products. The offer is valid for two months from July to the end of August 2014.

The new offer is consistent with Sharjah Islamic Bank’s commitment to provide the best finance products such as travel finance, education finance, and Haj and Umrah finance with 0% profit, in addition to the Red Carpet package, which gives clients working in government and semi-government entities a host of exclusive benefits and privileges.

Speaking on the occasion, Jassem Al Baloushi, Head of Retail Banking Group at Sharjah Islamic Bank, said, “The bank launches an array of Sharia’a compliant banking finance products throughout the year. As summer holiday is the right time for many clients to complete their enterprises and endeavours, this offer will give them the appropriate support they need to achieve success.

The summer offer was launched following a thorough study of client needs and it was designed to keep up with increasing demand for such products in the market.” The new offer enables clients who are UAE citizens and whose salary is AED30,000 and above to benefit from the offer at a flat profit rate of 2.99% (5.47% annual reducing) for three years, or at a flat profit rate of 3.33% (6.09% annual reducing) for four years. Resident clients will be able to utilise the product at a flat profit rate of 3.66% (6.7% annual reducing) for four years.