Interest-free good loans in Bahrain 2024

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  • January 7, 2024
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Qard Hassan is one of the Islamic financing programs that many people need for many reasons. It gives the opportunity to obtain financial support without bearing the burden of forbidden usurious interest, but the question that many citizens ask is: Is there Hassan in Bahrain?

The answer is yes, as there are many institutions and entities in Bahrain that provide good loans according to specific conditions. In this article, we will present to you a comprehensive guide in which we mention the best entities and banks that provide good loans in Bahrain, mentioning all contacts with them.

Hassan loans without interest in Bahrain

Loans have contributed significantly to raising the standard of living of people with limited income and have brought them many gains and benefits. Most of these loans come from the initiative of wealthy businessmen, which is a type of charitable work whose goal is completely non-profit. In our article today, dear ones, we will talk about good loans without interest. In Bahrain 2024, this is in response to many questions about this topic. If you are interested, follow this article to find out the answer.

Hassan loans without interest in Bahrain

We will mention the most important financial and charitable institutions that were established by wealthy businessmen and that provide such loans and financing without any interest. All of the institutions that we will mention follow the rules of Islamic Sharia, and these institutions are as follows:

Al Baraka Group

Al Baraka Group is considered one of the most powerful institutions that provide good loans in Bahrain without interest at all. These groups finance individuals and help them improve their lives, such as financing the construction of a house, purchasing a car, or financing small projects, such as purchasing products to sell, financing travel, education, medical care, and other matters. This group also grants personal loans on very easy, interest-free terms and with a convenient payment method, but it requires some conditions in order to obtain this loan, which are as follows:

  • The applicant must be of Bahraini nationality and reside there.
  • The applicant must not be less than 21 years old and not more than 70 years old at the last repayment period of the loan.
  • The applicant’s monthly salary must not be less than 600 Bahraini dinars.
  • Loan requirements and necessary papers:
  • A copy of your personal ID.
  • Proof of residence in Bahrain through electricity or water bills.
  • Salary statement.
  • Bank statement for the last three months.
  • Proof of life insurance.

To communicate:

  • Al Baraka Bank phone number for inquiries: 97313300401.
  • You can apply electronically for the loan via the bank’s official link from here.

Bahrain Development Bank

In the list of the best banks that provide good, interest-free loans in Bahrain, the Bahrain Development Bank provides excellent financial support to people with limited income, as it grants various financing and loans on easy terms that help individuals meet their various needs, such as a car or home loan or financing for profitable small projects, in addition to treatment and travel financing, etc. .

Loans from this bank are characterized by no interest or profits. Large sums of money can be withdrawn. The repayment periods are very comfortable and long and are suitable for all individuals. Any person residing in Bahrain can obtain this loan without any restrictions. The requirements for obtaining the loan are as follows:

  • Benefit form.
  • Curriculum vitae or CV.
  • A copy of the passport or personal identity.
  • A copy of the smart card.
  • Bank statement for the last six months.
  • Proof of residence, such as electricity and water bills.
  • Salary statement.

To communicate:

  • Bank phone number for inquiries: 973117511111.
  • An individual can apply electronically via the bank’s official link from here.

You may be interested in: Offices and banks that provide personal loans in Bahrain

Bahraini Student Finance Corporation

This institution specializes in providing loans to students at all educational levels, especially the university stage, as it is somewhat expensive. These loans help students complete their educational journey without any obstacles such as tuition fees, stationery, etc.

This loan does not include any interest, as it serves as a subsidy for students at their various educational levels. Payment is made on a monthly basis and in very comfortable installments that suit everyone.

Requirements for applying for the loan:

  • University card or a document proving that he is a student.
  • Statement of semester grades.
  • The academic program approved by either the university or school.

To communicate:

  • 39913323 is the phone number of this institution for inquiries.
  • You can visit the organization’s website via the link from here.

Bahrain Islamic Bank is the best bank that provides an interest-free loan

Bahrain Islamic Bank is one of the most famous banks that offer good, interest-free loans in Bahrain. It provides financial aid and various loans that meet all the needs of individuals, such as home and car loans or personal loans. The repayment period varies depending on the type of loan. For example, a loan to purchase a house or land has a repayment period of up to 25 years.As for the personal loan, its term is up to 7 years for employees and 5 years for non-employees.

Loan amounts also vary greatly depending on the intended purpose of the loan. All individuals residing in Bahrain can obtain a loan from this bank, but the following requirements must be met:

  • A copy of your personal ID.
  • Salary statement.
  • Bank statement for the last three months.
  • Proof of residence and employment contract for non-Bahraini citizens.
  • A statement of the price of the car or property to be purchased.

To communicate:

  • 97317515151 is the phone number of the Bank of Bahrain for inquiries.
  • You can apply for the loan electronically through the bank’s official website through the link from here.

Read also: The best organizations that support small projects

Creativity Foundation

This institution provides very excellent loans and financing to all individuals. These loans are compatible with the principles of Islamic Sharia, as there are no interest at all and on very easy terms without any complications, and the repayment periods are long and very comfortable, commensurate with the income of all citizens.

These loans contribute to significantly improving the living conditions of citizens through personal loans, car loans, home loans, education, treatment, travel, etc. There are three types of these loans, which are as follows:

  1. Sayidaty Loan: It is intended for women and housewives and the amount ranges from 200 to 1000 Bahraini dinars.
  2. Creativity Loan: It is intended for home projects, such as purchasing electrical appliances, furniture, and other items. It is intended for men only and its value ranges from 200 to 1,000 Bahraini dinars.
  3. Hope Loan: It is intended for people wishing to establish their own projects and its value ranges from 1,000 to 2,400 Bahraini dinars.

Any person residing in Bahrain can obtain this loan without any difficulty or complications.

Requirements for obtaining the loan:

  • A copy of your personal ID or passport.
  • Salary statement.
  • Employment contract and proof of residence for non-Bahrainis.
  • Bank statement for the last 6 months.

To communicate:

  • 97317381000 is the number of this institution in case there are inquiries.
  • You can visit the organization’s official website through the following link: ebdaabahrain.com/.

Conclusion

We have mentioned to you, my dears, in this article about good interest-free loans in Bahrain 2024, in detail, as we mentioned the 5 most important loans that can be obtained in Bahrain, which contribute greatly to improving living conditions, especially for those with limited income, as they are interest-free and are characterized by a convenient and appropriate payment method for everyone, and here we arrive. To the end, we hope that the article was useful, thank you.

Related topics:

Businessman who supports projects

Personal loans in Bahrain

How to get a home loan in Bahrain

The best financing companies in Bahrain (real estate financing – cars)

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