All about bank loans, House Financing, Car Financing, Credit cards and Personal Loans

Murabahah - Trade Finance Basis for pricing Fixed rate for different tenures Financing limit As per bank’s Internal Assessment for allocation of limit Minimum finance tenure 90 days Maximum finance tenure 1 Years Security / Collateral Requirements : ·         10% security deposit for loans less than 30,000 USD ·         Original Copy of Title Deed (Qabala of Immovable Property) or any collateral acceptable for Bank. ·         Loans over 30,000 USD – Properties are mortgaged in Bank’s favour. Guarantee: ·         2 companies or business entities or any other Guarantee acceptable for the Bank.# ·         Cash guarantee, Pledge, hypothecation of asset or as per Bank’s requirements.

Murabahah - Car Financing  Basis for pricing  Fixed rate for different tenures  Financing limit  Up to 100,000 (USD)  Finance Tenure  Up to 3 Years  Type of Vehicles to be financed  All types of Vehicle Security/Collateral Requirements : ·         10% security deposit for loans less than 30,000 USD. ·         Terminal benefit (Pension) as Security for (Salaried Individuals)   ·         Original Copy of Title Deed (Qabala of Immovable Property) or any collateral acceptable for Bank. (Self Employed) ·         Loans over 30,000 USD – Properties are mortgaged in Bank’s favour. Guarantee: ·         Personal guarantee by 1-2 Gov. Employees. “Salaried Individuals” ...

Marabahah Real Estate Finance (House finance) Basis for pricing Fixed rate for different tenures Financing limit Up to 200,000 (USD)   Finance tenure Up to 5 Years Security / Collateral Requirements : ·         Original Copy of Title Deed (Qabala of Immovable Property) or any collateral acceptable for Bank ·         Properties are mortgaged in Bank’s favour. ·         Up to 30% of the total cost as down payment if the property itself ·         Terminal benefit (Pension) as cash Security (Salaried Individuals) Guarantee: ·         Personal guarantee by 1-2 Gov. Employees. “Salaried Individuals” ·         Two companies or business entities or any other Guarantee acc...

Murabahah Home Appliances Finance Basis for pricing Fixed rate for different tenures Financing limit Up to 10,000 (USD) Finance tenure Up to 3 Years Security/Collateral Requirements: ·         Original Copy of Title Deed (Qabala of Immovable Property) or any collateral acceptable for Bank. (Self Employed) excluding Govt. Employees. ·         Loans over 30,000 USD – Properties are mortgaged in Bank’s favour. ·         Terminal benefit (Pension) as cash Security (Salaried Individuals) Guarantee: ·         Personal guarantee by 1-2 Gov. Employees. “Salaried Individuals”. ·         2 companies or business entities or any other Guarantee acceptable for the Bank for Self Employed.

Islamic Fixed Deposit Accounts Mudarabha (Fixed Deposit Account): ·         This account can be opened under Mudarabha principals for specific fixed term after signing an agreement with BMA. ·         Account can be opened as single or joint signatories. ·         Minimum balance for individual account is 25000AFs, 500 EURO or 500 USD. ·         Minimum balance for Cooperate Account is 50000AFs, 1000 EURO or 1000 USD. ·         No opening and closing charges. ·         No account maintenances fees.

  Islamic Saving Account Mudarabha ( Saving Account): ·         Mudarabha is a contract between BMA and customer where BMA manage the investment to make SHARIHA based profit, which is then distributed among them as per agreed ratio. ·         The customer agrees to share profit and loss under this account ·         Minimum balance for opening this account is 5000 AFs, 100 EURO or 100 USD ·         No opening and closing charges. ·         No account maintenances fees.

Islamic Current Accounts Current Account (Qard Hasana): ·         Islamic Banking Window of Bank Milli Afghan deposits public money Under Alwadia with guarantee of immediate repayment to customers without any delay. ·         No Interest, profit or loss will be shared between BMA and customer under this account. ·         Minimum balance for individual Accounts opening is 5000 AFs. , 100 EURO or 100 USD ·         Minimum balance for Cooperate Accounts opening is 10000 AFs, 200 EURO or 200 USD ·         No opening and closing charges. ·         No account maintenances fees.

  Loan Services at BMA 1.      Working Capital Finance: This is a unique loan facility for trading sector which allows the customers to withdraw and deposit fund multiple times from and to the account for their day to day operation. These are designed and used generally for working capital purpose. 2.      Term Loans: This is a fixed term loan facility ranging from one to three years, repayable in monthly fixed instalments along with interest. These facilities are designed for purchase of machinery and equipment for production purpose. 3.      Consumer Loans: This loan facility is specifically designed for government employees who have been employed for not less than 10 years and more than 35 years with the government entities. Maximum loan limit under this facility is AFN 100,000 and is disbursed based on 50% annual net salary of the employees. 4.      Lette...

  Western Union Western Union is a Financial advanced system in the world which creates good opportunity for the individual customers. It is a means by which a customer can send/receive sum amount to another customer in other countries in the world in a few minute. Bank Millie Afghan provide this facility from several years and the customer can send and receive their transaction as per their information which they provide for bank. Receiving of Transaction through Western Union ·         Receiver should provide their original Tazkera (National Identification Card) or Valid Passport. ·         The customer should provide information such as, MTCN, Sender Information and Amount. ·         Outward Transaction through Western Union system ·         Customer Should Provide Original document such as (Tazkera or National I...

  Domestic Tansfer through SWIFT Outward Domestic Transfers Transfer Amount Commission Transferring to head quarter of Da-Afghanistan Bank & other Banks in Kabul AFG Minimum 150 AFN or (its equivalent in USD) and Maximum 500 AFN or (its equivalent in USD) 0.1% Transferring to branches of Bank provinces Minimum 500 AFN or (its equivalent in USD) and Maximum 10,000 AFN or (its equivalent in USD) 0.08% Transferring to provinces through the BMA branches Foreign Currencies Up to 1,000 USD without commission Minimum 10 USD 180 maximum USD Afghani without commission 0.08% Inward Domestic Transfers Transfer Amount Commission Transferring from Da-Afghanistan bank & other Commercial banks Up to 1,000,000 Afghani or (its equivalent in USD) No charges Tran...