July 02, 2025
Many individuals face difficulty in obtaining personal finance due to their existing financial commitments, whether in the form of previous finances or large monthly expenses. In this article, we will discuss several key points, focusing on how to get personal finance without a salary transfer despite having existing obligations and the strategies that can help. Join us to learn more.
Your financial commitments play a crucial role in determining your chances of getting additional financing. The presence of fixed monthly expenses or prior financing commitments may cause you to pause and think carefully before making a new financial decision. This consideration is not just for you but also for the financing institution, which has the right to review your financial commitments in full before approving your application. The goal is to ensure your ability to repay and to establish a suitable financing plan that maintains your financial stability and helps you avoid future difficulties.
When you apply for financing, several key elements are considered to assess your eligibility:
This ratio compares your total monthly obligations (including the new financing) to your monthly income. A high ratio may be a warning sign for the lender, potentially leading to a reduced financing amount or even a rejection of the application.
The lender reviews a client's credit history to assess their commitment to paying previous financing on time. A positive history increases your chances of obtaining financing with favorable terms.
These include expenses like rent, utility bills, and living costs. These costs are carefully calculated to determine if you can handle an additional financing burden without falling into financial distress.
If you have existing financial commitments and wish to obtain personal finance, there are smart solutions you can follow to increase your chances of approval:
First, choose a type of financing that aligns with your income and your realistic ability to repay. This reduces the likelihood of default and gives the lender more confidence in you.
Second, strengthen your position by providing collateral, such as real estate or other valuable assets. This reflects your ability to meet your obligations and reassures the financing institution.
Third, try to reduce your current debt burden, either by paying off a portion of it or by rescheduling installments. This will significantly improve your credit rating.
Finally, do not hesitate to consult a financial expert to help you set your priorities and improve your financial situation. You may find this service is available for free from the institution you wish to get financing from.
Amlak International offers flexible, innovative, and Sharia-compliant financing solutions that enable clients to get the financing they need without requiring a salary transfer. These solutions take into account your actual ability to pay and help you manage your financial obligations efficiently.
Amlak's solutions have several advantages that make obtaining personal or real estate financing a smoother process, even with existing financial commitments:
No Salary Transfer: You can apply for financing without needing to transfer your salary, which gives you greater freedom in managing your income.
Sharia-Compliant: All financing solutions are based on approved Islamic formulas, ensuring peace of mind and adherence to Islamic principles.
Flexible Repayment Plans: Convenient installments for up to 60 months allow clients to meet their obligations without financial strain.
Competitive Profit Margins: The company offers reasonable profit rates to reduce the cost of financing and make repayment easier.
Available to Saudis and Residents: All eligible clients can benefit from these solutions under clear and straightforward conditions.
Existing financial obligations do not make it impossible to obtain personal finance, but they do require thoughtful financial planning and wise decision-making. By choosing the right financing, providing additional collateral, and working to improve your credit rating, you can increase your chances of getting the financing you need without negatively affecting your financial situation. Always remember that good management of your financial obligations ensures you can make the most of available financing opportunities while maintaining your long-term financial stability.