Personal Finance – FAQs

Is this Finance Sharia’h compliant?

Yes, Fatwa has been issued by the sharia review bureau after reviewing all the details and the transactions involved in the process.
What are the available tenors for the personal Finance ?

Finance is available for 36, 48 and 60 months.
Can expats apply for this as well ?

Yes, Expats can apply.
Will my employer need to be listed?

Yes, is in order to avail facility the company customer works for needs to be listed. If the company is not currently listed with us, we can refer to our sales team to check if the company your work for can be listed. If your employer is not currently listed with us, we will review the possibility of listing the employer .
Why is a promissory note required ?

The Finance provided by Tasheel does not require a guarantor or salary transfer. The promissory note collected will only be used in an event of default
What is the profit rate ?

Profit rate differs depending on customer profile.
Is there a processing fee?

Yes, there is a processing fee, the processing fee is 1% of the Finance (Max of SAR 5,000) which is deducted from the Finance amount provided to you.
Can customer prepay the Finance?

Yes, you may pay the Finance however; there will be charges totaling of 3 months profit added to the remaining principal amount as penalty for early closure.
What is the payment method for the installments?

You can pay your instalments through SADAD by entering the invoice number or “261” United Company for Financial Services.