ADCB Meethaq’s Salary Advance Facility (“SAF”) is a Shari’ah Compliant finance facility which can be attached to Meethaq Current Account. SAF is based on “Qard al Hasan” contract (finance without profit) where a flat monthly fee is charged, irrespective of the SAF amount utilized.
Features & Benefits
- Minimum SAF limit is AED 5,000 and maximum limit can go up to AED 20,000
- SAF will be granted for one year period with automatic renewals
- The Bank shall recover monthly and annual fees from the Meethaq Current Account
- Minimum salary requirement is AED 12,000
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Option to apply for Meethaq Credit Card
Fees & Charges
- Monthly flat fee of AED 100
- An initial set up fee of AED 200 shall be charged once the account is opened
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Subsequent renewal fees of AED 200 shall be charged every 12 months
Documentation
- Salary Advance Facility Form
- Salary Transfer Letter
- Liability Letter (Only if liabilities are with another bank)
- Three months’ bank statements (Only if account is with another bank)
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Passport copy
For more information or to apply call toll free 800.MEETHAQ (800.633.8427) or visit any ADCB branch in UAE.
All ADCB Meethaq products and services are approved by the Fatwa and Shari’ah Supervisory Board. To view the Fatwa on ADCB Meethaq’s Salary Advance Facility please click on the following link:
Salary Advance Facility Fatwa
Disclaimer:ADCB Meethaq liability products will be made available at the sole discretion of ADCB - IBD; subject to ADCB -IBD’s Terms and Conditions for Shari'ah Compliant Account Operation and upon submission of documentation acceptable to ADCB-IBD
