Affin islamic personal loan

On some occasions, people find themselves in life scenarios where they need to borrow money for different reasons. It may be to make a large purchase, buy new home furniture, finance a long awaited vacation or even to consolidate other debt, including high-rate interest card debt.

A personal loan is any type of unsecured loan. Compared to a mortgage, which is backed by the value of a home, or a car loan, which is backed by the value of a car, lenders offer these unbacked, unsecured loans to those people who do affin islamic personal loan have an asset that can be used as collateral.

Also known as no-collateral loans, they can be a solution to individuals who need to borrow money but do not have anything to use as security. Unlike other types affin islamic personal loan financial obligations, a personal loan provides the freedom to use the funds as needed. Most of the time, the lender wants to know what the money will be used for, to make sure you are making a sound decision.

Affin islamic personal loan

Just fill out our Online Form. Follow the short process and if you affin islamic personal loan approved, receive your cash loan. APR INFORMATION. Annual Percentage Rate (APR) is a measure of the cost of credit, expressed as a nominal yearly rate. It relates to the amount and timing of value received by the consumer to the amount and timing of payments made. We cannot guarantee any APR since we are not a lender ourselves.

An APR can generally run between 6 up to 35. Loan products general have a 2-month minimum repayment term and a 84-month maximum repayment term.

Affin islamic personal loan

One point equals one percent of the loan amount (for example, 2 points on a 100,000 mortgage would affin islamic personal loan 2,000). Monthly Payment (estimated) The estimated monthly payment includes principal, interest and any required mortgage insurance (for borrowers with less than a 20 down payment).

The payment displayed does not include amounts for hazard insurance or property taxes which will result in a higher actual monthly payment. If you have an adjustable-rate loan, your monthly payment may change annually (after the initial period) based on any increase or decrease in the London Interbank Offered Rate (LIBOR) index. Fixed-rate mortgage. A home loan with an interest rate that remains the same for the entire term of the loan.

Adjustable-rate mortgage (ARM) Also called a variable-rate mortgage, an adjustable-rate mortgage affin islamic personal loan an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U. Prime Rate or the London Interbank Offered Rate (LIBOR). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.

Affin islamic personal loan