Conditions for obtaining a loan from the Algerian Salam Bank
We explain to you Conditions for obtaining a loan from the Algerian Salam Bank It is considered one of the things that occupy the minds of many young people to get a financial amount to form a future project.
What is the Algerian Salam Bank?
Al Salam Bank Algeria It is a multi-tasking, multi-service bank that operates in accordance with Algerian law and in accordance with the provisions of Islamic Sharia in all its dealings.
The Bank of Algeria agreed in September 2008 to start its activities with the aim of providing innovative banking services.
Al Salam Bank Algeria also operates according to a clear strategy in line with the requirements of economic development in all the vital Algerian facilities.
By providing modern banking services that stem from the principles and values established in the Algerian people. In order to meet the needs of the market, traders and investors, their transactions are controlled by a Shariah board made up of senior scholars in Sharia and economics.
Al Salam Bank Algeria’s branch network currently consists of 23 branches spread across the country.
Waiting for other branches to open; In line with the vision and strategy of the bank, which seeks to provide its banking services in its various forms and bring them closer to its customers with the best quality.
Excellence in providing innovative and high-quality banking services that keep pace with modern financial developments and solutions in accordance with the provisions of Islamic Sharia to achieve the best value and sustainable benefit for all parties.
Leadership in the field of comprehensive banking in accordance with the concepts of Islamic Sharia and providing innovative services and products approved by the Shariah Board of the Bank.
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Types of loans in the Algerian Salam Bank
Al Salam Bank has always wanted to win the trust of customers, which is why Al Salam Bank announced its full readiness to receive all requests related to obtaining a loan for personal purposes, such as buying a car and opening a business.
Among the loans recently discussed by the bank are loans for the purchase of a Picanto, Ibiza or Kia cars. Or other modern cars in Algeria, such as “Volkswagen” or “Cadi”.
Algeria’s Al Salam Bank stated that it is ready to grant personal finance loans to those who want to buy a car and to those who want to get a loan. The loan is granted by the applicant by going to one of the branches of Al Salam Bank Algeria.
Or go to one of the offices owned by the bank, which are offices spread all over the country. The bank always strives to provide services that make things easier for the bank’s customers, make their lives easier, and save them time and hope that dreams will come true.
These loans are considered 100% halal, and this is in the opinion of the Dar Al Iftaa in Algeria and the legal supervision. Bank employees say that the first contribution does not exceed 6 billion. Likewise, it does not exceed 10% of the property price, thus fulfilling the requirements of the Algerian citizen.
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Conditions for obtaining a loan from the Algerian Salam Bank
The conditions for obtaining a loan from Al Salam Bank differ from one person to another and from one case to another, including:
- The loan cannot be given to a person under the age of 21, and not more than 70 years old
- That the loan applicant has Algerian citizenship.
- He must have a stable income.
- The loan amount should not exceed a certain limit of the borrower’s salary.
- The value of the installment varies according to the value of the loan.
- As well as the duration of the installments varies depending on the type and value of the loan.
- Often the relationship between the value of the financing and the number of installments is direct, the higher the amount of financing, the longer the client will need to repay.
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Loans to buy cars from Al Salam Bank in Algeria
Car loans from Algeria’s Al Salam Bank are the most popular types of loans offered by the bank to customers.
Because the bank wants to meet the needs of customers and always declares that it is ready to finance the purchase of modern cars.
The Bank strives to make owning a car for every customer as easy as possible.
Instead of waiting so long to collect and process your purchase and get the car price. The bank announced that it is in customer service and accepted all applications made to the bank for a car loan.
Al Salam Bank Algeria announced that it will take care of delivering the cars after submitting the application and will tend to purchase them in a maximum period of 45 days only. The time varies from person to person as it depends on the number of cars available.
The conditions for obtaining a loan from the Algerian Al Salam Bank to buy a car are as follows:
- The issue of conditions in Al Salam Bank Algeria is very simple because the bank did not set excessive or strict conditions.
- The person applying for a car loan must have a stable income and salary.
- It must also be proven that the customer requesting the loan has an economic source other than his job if it is not permanent, provided that the other job is permanent even if it is not necessary.
- The second most important condition is that the client has the ability to repay the loan in a certain period in installments. The bank has set this period as a maximum of 60 months.
- The Algerian Al Salam Bank also said that the car purchase loan is limited to certain types and models of cars, such as “Picanto”, “Ibiza”, “Kia”, “Volkswagen” and “Caddy” cars.
- The bank’s management has agreed with a lot of sellers and importers to provide a lot of cars to borrowers.
- The loans are also subject to the car loan system, where these loans are subject to the provisions of Islamic Sharia.
- It is worth noting that Al Salam Bank in Algeria is the Bank of the Year, because it has proven that it is a bank that provides various services to customers, even if they are from different countries and live in Algeria.
- The Bank also operates in accordance with the laws established by the State of Algeria and in accordance with Islamic provisions.
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Real estate loans from the Algerian Salam Bank
Al-Salam Bank Algeria has launched several initiatives to support real estate loans, as the bank’s mortgage loans are very easy for Algerians and for all residents inside and outside the country.
And the bank is ready to provide a service that complies with all the formulas approved by the fatwa and Sharia supervisory bodies, and bank officials assure that the mortgage loan can reach 6 billion cents.
But the loan cannot exceed 10 percent of the price of the property or house. There are real estate financing programs in the bank that are compliant with the provisions of Islamic Sharia called “Dar Al Salam”.
The value of the provided financing amounted to about 60 million dinars, meaning that the value of the financing is 6 billion cents.
The mortgage has a repayment term of up to 25 years, and the applicant can also participate in the loan with one of his first degree relatives to increase the amount of any of the finance values.
Among the conditions for obtaining a mortgage loan are the following:
Required documents and terms of the mortgage loan from Algeria’s Al Salam Bank
The terms of the mortgage loan are as follows:
- The loan applicant must be at least 18 years old and not more than 70 years old.
- The loan applicant must be Algerian.
- You must also have a stable monthly income.
- The applicant for financing is required to pay a margin to guarantee the seriousness or pay a portion of the price, depending on the type of financing formula estimated at 10 percent of the property price.
At the end of our conversation today, we will know the most important Conditions for obtaining a loan from the Algerian Salam Bank And the advantages of the loan, as well as we talked about the types of loans offered by the Algerian Al Salam Bank, the most important of which are the car loan and the real estate loan.
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