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Ijarah means to transfer the usufruct of a particular property to another person in exchange for a rent claimed from him. The term Ijarah is analogous to the English term ‘leasing’. Here the lessor is called ‘mu’jir’, the lessee is called ‘musta’jir’ and the rent payable to the lessor is called ‘ujrah’.
Soneri Bank Mustaqeem Islamic banking offers Car Ijarah facility up to Rs.2,000,000/-, repayable in 5 years in equal monthly installments. Option of used and reconditioned car are also available.
Benefits
- Fast and hassle-free application processing
- Zero processing fee on declined application
- Security Deposit is required once facility is approved
- Option of Used and Reconditioned Car is also available
- Early Settlement option
Eligible Persons
- Salaried Persons
- Self Employed Professionals
- Business Persons
- Agriculturists
- Rental Income Individuals