Personal Financing
(Service Ijarah)
Personal Financing
Shabelle Bank will offer a “Shari’ah” compliant personal financing facility based on the Islamic financial principle of “Musawamah”. The financing facility can be availed and utilized for financial needs such as education, marriage, medical expenses, credit card loans settlements, conventional loans settlements, or meeting any other emergency needs in a “Shari’ah” compliant manner.
Benefits
“Riba” / interest-Free solution to your immediate cash needs like education, hospitalization, marriage, etc.
Flexible tenor from 6 months to 60 months.
Affordable and competitive equal monthly installments.
Simplified procedures.
Avoiding “Riba” on your existing conventional loans through our product’s balance transfer facility.
Relatively less documentation.
Option for automatic deduction from your current/savings account.
Processing period of 3-5 business days.
Requirements
Proof of residency and income.
Minimum age of 21 at the date of application
Maximum age allowed to secure a facility is 60 years.
An active account with Shabelle bank.