Bahraini retail and commercial banking institution, BMI Bank today announced the launch of a special promotion on its Salaf range of Personal, Auto and Mortgage loans offering customers a range of immediate benefits including the option of a deferment of the first three installments, a low interest rate, instant free gift worth BD 50 as well as the waiver of administration and insurance fees amongst others. The promotion, which includes preferential pricing as well, is open to both locals as well as expatriates living in Bahrain.
“In line with our continued commitment to offer customers a unique bouquet of tailor-made products and services, I am pleased to unveil yet another unique/exclusive promotion this month for our esteemed customers. With the advent of the Holy month of Ramadan followed by the school summer holidays, customers looking to ease their financial burden can take advantage of our latest value added promotion which offers them a lower Annualized Percentage Rate (APR) on our Salaf personal, auto and mortgage loans,” Jamal Al-Hazeem, Chief Executive Officer of BMI Bank said.
During the promotion period, customers applying for a Salaf personal loan will receive a low APR starting from 5.80% in addition to a waiver of both administration and insurance fees, whilst customers who apply for a Salaf mortgage loan will receive an APR of 5.97%, low up-front fees, zero down payment and longer repayment tenure of up to 25 years. Customers who apply for a Salaf auto loan will receive an APR of 5.8% as well as low administration fees, no insurance fees and zero down payment, in addition to a special BD 50 gift voucher. With such attractive offers and incentives to be made the most of, we are confident that our Salaf loans promotion will appeal to existing as well as new BMI Bank customers as we continue to invest in our products and services to build a strong retail and commercial banking business within Bahrain.”