Noor Business Accounts
Minimum Balance
AED 0
Ismalic Banking
Yes
Annual Fee
AED 0

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Features:

  • Minimum Balance Requirement: Maintain an average monthly balance of AED 10,000.
  • No Monthly Fee: No fee if balance requirement is met.
  • Fee for Falling Below Balance: AED 100 if the monthly balance requirement is not maintained.
  • E-Statements: Receive electronic statements for account management.
  • 24×7 Debit Card Facility: For authorized signatories, providing easy access to funds.
  • Online Banking: Access and manage your account online anytime.
  • Dedicated Relationship Manager: Personalized support and advice.
  • Foreign Exchange Services: Buy and sell services for major GCC and international currencies, including:
    • UAE Dirham
    • Saudi Riyal
    • Kuwaiti Dinar
    • US Dollar
    • Euro
    • British Pound Sterling
    • Japanese Yen

Documents Required:

  1. Filled Application Form
  2. Attested Constitution Documents:
    • Trade License
    • Power of Attorney (POA)
    • Memorandum of Association (MOA)
  3. Passport Copies: Of all partners and signatories, including sponsor

Note: Ensure all documents are properly attested and complete to facilitate smooth processing.

Calculator Terminology

Principal Amount: The initial amount of money borrowed.

Annual Interest Rate (%): The yearly interest rate applied to the loan or credit product, also known as APR in this context.

Loan Term (Years): The original duration of the loan or credit agreement, stated in years.

Effective Monthly Payment: The total monthly payment that accounts for all fees and associated costs related to the product.

Calculated Annual Percentage Rate (APR): The APR is computed using the annual interest rate along with fees and other expenses. It serves as a standardized measure for comparing the overall cost of different products with varying interest rates and fee structures across different financial institutions.

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