Personal financing
| Get Finance | Flat Profit Rate | Payment Period | Finance Buy-out Facility | |
|---|---|---|---|---|
| Up to AED750,000 | From 4.68% p.a. | From 6 to 48 months | Yes |
Here's what you get*:
- Attractive Profit Rates starting from 4.68% p.a. flat rate.
- HSBC Amanah Credit Card with no annual fee for life
- High finance amounts up to AED750,000 - depending on your eligibility
- Instalment deferment option - defer your monthly instalment up to 2 times a year
- Minimum balance waiver - automatically get an HSBC Amanah Current Account with no minimum balance requirement for the duration of your finance.
More great benefits*:
- Credit Life Takaful Coverage - In case of an unfortunate event of loss of life, your total outstanding finance amount will be covered.*
- Shariah-approved Product - Certified by HSBC Amanah Shariah Committee
- Flexible payment period
- Attractive pricing discount for Premier and Advance customers
- Salary starting from AED7,500
Plus:
- Minimal paperwork - to make your finance application process as straightforward as possible
- Free Cheque Book
- Free Debit Card
- Free Internet Banking
- Access to 24/7 phone banking
Amanah Personal Finance - Fees and Charges
| Description | Charges |
|---|---|
| Agency services fee (new) | 1% of Metal Price (subject to a minimum AED500 and maximum AED2500) |
| Agency services fee (additional finance) | 1% of Incremental Metal Price (subject to a minimum AED500 and maximum AED2500) |
| Late payment fee | 2% of the delayed amount (minimum AED50 and maximum AED200) |
| Instalment deferment fee | AED100 per deferment |
| Finance cancellation fee | AED100 |
| Finance rescheduling fee | AED250 |
| Liability letter | AED100 |
| No liability letter | AED100 |
Amanah Personal Finance - Documentation
| Required Documentation - AME | |
|---|---|
| • Application | Amanah Finance Application, Offer-to-Purchase and Agency Agreement Form |
| • Primary Identification | Expatriates: Valid Passport & Visa page UAE nationals: Valid Passport copy |
| • Evidence of Income | Pvt. Companies - Salary Transfer Letter (STL) Govt. Companies - Salary Certificate (SC) or STL |
| • Security cheque | Undated Security Cheque |
| • Bank Statement | New to bank customers: last 2 months bank statement showing two-credit salary. The following are exempt from the requirement: • New to country if same can be proved through date of entry in UAE • Govt. employees if the first salary is credited to the account Buy-outs: Last 2 months bank statement |
| • Liability Letter (not more than 30 days old) | Required for Buy-out only |
| • Cashier's Order Cheque (COC) Request | Required for Buy-out only |
What is HSBC Amanah Personal Finance?
It is a Shariah compliant financing solution. Designed to provide you with liquidity that you need, in a manner that satisfies the highest standards of compliance with Shariah guidelines. It follows a simple process based on the Tawaruq principle - a Shariah compliant finance tool. The transaction is quick, easy and straightforward:
- Bank will sell commodities (metals) it own at a pre-agreed Sale Price which included fixed profit amount to you
- Once the purchase of metal is completed, The Bank will sell the metals on your behalf to another broker. The proceeds from the sale of the metals will be transferred to your account
- You will enjoy the flexibility to pay the Bank in convenient instalments
What makes HSBC Amanah Personal Finance a Shariah compliant product?
HSBC has an international team of professionals with Islamic financial expertise dedicated to developing Shariah approved financial solutions for the HSBC Group. HSBC Amanah Personal Finance has also been developed in consultation with and approved by the HSBC Amanah Central Shariah Committee. The process of product development and Shariah review ensures that HSBC's Shariah compliant products are within the guidelines prescribed by the Shariah.
HSBC Amanah Personal Finance offers you a Shariah compliant alternative to a personal loan which allows you to avoid interest (riba) bearing transactions.
