Namara 1.0.8

Namara aims to assist each individual in navigating their personal finances to attain their unique version of financial stability. The company emphasizes a customer-centric approach, recognizing that clients are more than mere transactions. Transparency and understanding are prioritized in every interaction.

The borrowing process at Namara is designed to be straightforward and accessible, epitomized by their personal loans available up to AED 5,000.

• Loan Amount: Ranges from AED 500 to AED 5,000, determined by the chosen product and the customer's credit history.
• Rates and Fees:
  • APR/Interest Rate: 20% (Monthly interest rate varies between 1.5% and 2%)
  • Maximum APR: 24%
  • Loan Tenure: Between 60 days and 120 days
  • Processing Fee: 6%

Repayment terms are tailored based on the loan amount for which a customer qualifies, allowing choices of up to four months. Each loan can be repaid with a minimum of 60 days and a maximum of 120 days.

For instance, taking a loan amount of AED 1,000 at an interest rate of 24% per annum for a tenure of two months would yield an interest of AED 40. Consequently, the monthly EMI would be AED 520, resulting in a total repayment amount of AED 1,040, inclusive of all costs.

The process allows customers to receive advancements of up to AED 5,000 promptly without the burden of additional costs or hidden fees associated with starting an application. Customers can expect clear communication regarding any expenses involved in proceeding with their loans.

Furthermore, flexible repayment options enable clients to select their repayment frequency according to their financial capability, eliminating concerns about unexpected costs or intricate fine print.