Tas’heel Personal Finance |
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APR starts from 7.3815% for a finance amount of BD10,000 repaid over 7 years.
Tas’heel has been designed with strict adherence to the principles of Islamic Shari’a as a personal finance product on a Murabaha basis.
Starting from 3.7% for any financing period, you can now
enjoy the benefits of Personal Finance with Tas’heel from BisB.
All your personal requirements can be met with Tas’heel.
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| What are the features of Tas'heel? |
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- Maximum finance Amount: BD100,000
- Maximum Tenor: 7 years
- Salary Transfer: Mandatory
- Maximum DSR (Debt Service Ratio): The total debts of the customer including all existing installments, new installment and 5% of the credit card and over draft limits, should not:
- exceed 50% of the monthly income for individuals with salaries of BD3000 per month or less.
- exceed 60% of the monthly income for individuals with salaries above BD3000 per month.
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| What can I use this finance for? |
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Tas’heel is offerd for the following purposes
- Education and training (within Bahrain or Internationally)
- Treatment and medical care (within Bahrain or Internationally)
- Marriage and associated expenses
- Family tourism and travel
- Debts due for payment to banks and individuals
- Purchase of non manufactured items
- Purchase of construction material and equipment
- Down payments for property purchase
- Purchase of goods from outside Bahrain
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| Am I eligible for BisB's Tas'heel? |
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Tas’heel is available for Bahraini citizens and expatriates who are currently employed within any organization that is listed in BisB’s ALE (Approved List of Employers) and earn BD200 and above. The general criteria to obtain Tas’heel are as follows:
- Applicant must be more than 21 at the time of application and 60 at the maturity of the finance.
- Applicant must have a minimum work experience of 4 months.
- Applicant must have a minimum monthly income of BD200.
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| What is special about BisB's Tas'heel? |
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- Compatitive Profit rates and fees.
- Promt and efficient processing
- Avaliable through all BISB branches as well as through all BISB outdoor sales unit
- Wide range of other products to complement your banking relation
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| What documents do I require to apply for Tas'heel? |
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- Copy of valid Smart Card.
- Copy of valid driving license or passport.
- Payslip for 3 months.
- Most recent salary certificate.
- Bank statement for 3 months.
- Signed CRB (Benefit) form.
- Completed and signed finance application form .
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| What is the Islamic structure of the product? |
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| The financing is conducted through a Murabaha contract where the bank purchases high value commodities from a first dealer . After obtaining ownership of the commodities, they are resold to the customer on monthly installments for the cost plus the Bank's profit margin. The customer after obtaining ownership of the commodity has the option to sell the commodity for cash or recieve the physically purchased commodities |
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