Disclosure of Annual Percentage Rate for Home Finance

Annual Percentage Rate (APR):

The discount rate at which the present value of payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Example of product price for fixed Ijarah finance – First home buy:

Property Value Loan to Value Ratio Fixed or Variable Rate ** APR* Maturity in Years Payment Type *** Monthly Repayment Amount Early Payment Charges
605,910 90% Fixed 8.45% 11 Principle and Interest / profit, insurance 6,212.27 Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.


Example of product price for variable Ijarah finance – First home buy:

Property Value Loan to Value Ratio Fixed or Variable Rate ** APR* Maturity in Years Payment Type *** Monthly Repayment Amount Early Payment Charges
1,100,000 70% Variable 7.31% 10 Principle and Interest / profit, insurance 8,907.59 Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.


Monthly Ijarah variable installment calculated as below:

Monthly installment for the First rental term is 8,907.59 for 24 months with cost term 3.75%

  • The minimum Monthly installment for future is 4,687.46 with fixed cost term 1.35%, variable cost term 2.4% in event of SIPOR decrease to the minimum cap
  • The maximum Monthly installment for future is 11,924.71with fixed cost term 1.35%, variable cost term 2.4% in event of SIPOR increase to the maximum cap

Example of product price for Murabaha Finance – First home buy:

Property Value Loan to Value Ratio Fixed or Variable Rate ** APR* Maturity in Years Payment Type *** Monthly Repayment Amount Early Payment Charges
800,000 90% Fixed 8.52% 30 Principle and Interest / profit, insurance 5,347.60 Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.


Example of product price for Tawaruq home equity Finance – First home buy:

Property Value Loan to Value Ratio Fixed or Variable Rate ** APR* Maturity in Years Payment Type *** Monthly Repayment Amount Early Payment Charges
605,910 90% Fixed 8.45% 11 Principle and Interest / profit, insurance 6,212.27 Profit of future 3 installments

*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

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