FMFB-A offer home appliance financing that enables customers to acquire household appliances ranging from Refrigerator, Freezer, Furniture, Cooker, Laptop, TV, etc. with the flexibility of a monthly payment plan.
Your home, your comfort, our appliances financing!
Home appliance are personal loans, which refer to providing finance for individuals that have been excluded from traditional financial services. These are often given Home appliance and purposes that will eventually enhance the quality of the recipients’ personal lives. These financing often have lower profit rates, longer and more flexible repayment periods and have a social impact and contribute to the inclusion of disadvantaged and individuals who normally do not have access to reliable and long-term sources of funds.
The Product is designed as a Shariah compliant Home appliance financing based on the Islamic financial principle of Murabaha, the Home appliance financing Scheme is widely used in Islamic finance. Under this product, the Bank purchases a Shariah compliant asset(s) home appliance such as washing machine, air conditioner, refrigerator, laptop and etc. from a third-party supplier (for the Cost Price) and subsequently sells it to its Customer on Murabaha basis.
Features and Benefits
- 100 percent Shari’ah-compliant financing
- Availability of multiple currencies (AFN, USD)
- Attractive profit rate
- From 6 months to 2 years of financing
- Financing limit from AFN 25,000 to AFN 500,000 or equivalent in USD
- The fully transparent transaction with no additional charges
- No hidden costs
- The original title deed of the property and one guarantor
- Two guarantors if the amount is less than AFN 100,000 or equivalent in USD (no title deed is required).
How to Apply
For more information please call our Customer Service Centre by dialing 599 or visiting any of our branches.