Skip Ribbon Commands
Skip to main content

Sublife Event Article :

Home About Dubai Smart Government About Dubai Dubai Government Services Directory Smartphone Apps How to FAQs
Dubai eGovernment Banner
main navi

Citizens

main navi main navi

Residents

main navi main navi

Businesses

main navi main navi

Visitors

main navi main navi

Government Entities

main navi main navi
Font Management Font Management print form
main navi
Expo 2020
Service Directory
Browse By Language


Important Links

Home > Life Events for Citizens > Dealing with banks in Dubai > Calculating bank interest in Dubai
Calculating bank interest in Dubai

Calculation of the amount of interest on a personal loan, a car loan, an overdraft account or an unsettled credit card balance is subject to the following equation approved by the UAE Central Bank:

Amount of interest = Original loan X interest rate X loan duration (in months) + 1] divided by 2 X 100 X 12.
It is prohibited to deduct part of the loan in advance as a due interest amount. The bank should also calculate the amount of the interest and then deduct it from the agreed on monthly installment so that the original amount will be used to reduce the balance of the loan at the beginning of every month.
 
Computation of bank interest for personal loans as per Article (6)- Central Bank Regulations. (PDF Size 300.55 KB)
Personal loan calculator - Arab Bank

 

Published Date : 05/07/2015Back


Life Events Top Category

Individual Life Events

Sublife Event Title

Life Events Supporting Partners

Rank

Published Date

ExpiryDate

AlertDays

Body

Life Event Banner

Related Government Entity

Related Topics

Related Private Links

AlertUpdateDate

AlertNewDate

TopCategory:TopCategoryArabic

TopCategory:TopCategoryEnglish

ArticleCategory:CategoryArabic

ArticleCategory:CategoryRank

ArticleCategory:CategoryIconURL

ArticleCategory:CategoryEnglish

ArticleCategory:ShowOnHomePage

GovernmentEntity:ArabicURL

GovernmentEntity:EnglishURLText

GovernmentEntity:EnglishURL

GovernmentEntity:ArabicURLText

PrivateLinks:ArabicURLText

PrivateLinks:ArabicURL

PrivateLinks:EnglishURLText

PrivateLinks:EnglishURL

TopicLinks:EnglishURLText

TopicLinks:EnglishURL

TopicLinks:ArabicURLText

TopicLinks:ArabicURL

ArticleSupDepart:ImageName

ArticleSupDepart:DepartmentURL

ArticleCategory:AdditionalTopCategory

ArticleCategory:ID

ArticleCategory:RankCitizen

ArticleCategory:RankResidents

ArticleCategory:RankBusinesses

ArticleCategory:RankVisitors

ModificationDt

MobileRank

Attachments

Created at by
Last modified at by
advertisementspaceradvertisementspaceradverstisement
Contact Us |Feedback|Site Map |Privacy Policy |Terms and Conditions |Disclaimer
Dubai Smart Government
Happiness Meter