ADIB Home Finance for Expats

Minimum Salary
15.000,00 د.إ

Flat Rate
AED 2.32%

Reducing Rate
3.99 %

Maximum Term
25 Years

Monthly Payment
AED 3,955

Description

Got your eyes on a property or thinking of building your dream home? ADIB Home Finance makes your dream home a reality.

Major Advantage: Low salary requirement, Free property takaful

Important Info: Salary transfer requires for better rates.

Features

Main Benefits:

Free property insurance
Lower profit rates on Salary Transfer

Profit Rates & Charges:

Reducing Rate (as advertised): Starting from 3.99% p.a. (On salary transfer)

Flat Rate: 2.32%* p.a. (as per 25 years calculation)

Processing Fees:

0% with salary transfer to bank
0.5% + Vat for non salary transfer cases
Nil for buyout transaction

Property valuation Fees: AED 2,625

Early Settlement Fees: 1% of outstanding amount (max cap AED 10,000)

Partial Settlement Fees: Up to 30% annually is allowed without any charge

Finance Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months or confirmation for salaried; 3 Years for Self Employed

Salary Transfer: Not Compulsory

Minimum Down payment:

For first property (If property price < AED 5M): 20%
For first property (If property price > AED 5M): 30%
For second property: 40%

Key Details:

Maximum Finance Amount: AED 15,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: Any ready property in Dubai, Abu Dhabi & Sharjah with title deed.

Takaful:

Life Takaful: 0.025% per month

Property Takaful: Free for entire tenure

Documents Required

Common Documents:

Valid passport, Visa & Emirates ID copy.
Offer letter copies of all personal ongoing finance.
Rental Income Document (If any).
Liability Letter (In case of Buyout Finance only).
Relevant property Documents.
Address Proof (Electricity Bill Copy)

Salaried Client Documents:

Latest salary certificate addressed to ADIB Bank.
Latest 6 months personal bank statement.
Six months pay slips if there is variance in salary.

Self-Employed Client Documents:

Valid company trade license.
MOA (Memorandum of Association) including all amendments.
Latest 6 months personal bank statement.
Latest 12 months company bank statement.
Audit financials of last 2 years (if applicable).
Offer letter copies of all company ongoing finance.

Additional Info

All info mentioned can change at any point of time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change.
Reducing rate is converted into flat rate as per 25 years calculation. Flat rate mentioned above is an approximate rate.
Terms and conditions apply.