FINANCIAL FORUM
Q&A: Exploring an interest-free property option
How Islamic home loans work and how non-Muslims qualify
01 September 2020 - 05:08
Q: My wife and I are in the market to buy a house, but we’re very much against dealing in interest. We have our eye on a home that’s on sale for R1.2m. We read about Islamic home loans that are not linked to interest rates. Do we as non-Muslims qualify? And if we do [qualify], how much will our bond be over a 20-year term? Can you please give us a breakdown? — James K
Amman Muhammad, CEO of Islamic banking at FNB, responds:..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.