Ajman Bank Home Finance

Minimum Salary
15.000,00 د.إ

Flat Rate
AED 2.87%

Reducing Rate
4.79 %

Maximum Term
25 Years

Monthly Payment
AED 4,293

Description

With Ajman Bank Home Loans you’re One Step Closer to finding the perfect home for a lifetime of joy and happiness

Major Advantage: Zero Processing Fee, Zero Valuation Fee, Waiver of property insurance and life insurance for the fisrt year

Features

Feature/Benefits:

Waiver on the processing fee.
The customer may avail this offering for a maximum of 3 properties.
Scanned copies of documents are accepted till offer letter issuance.

Profit Rates & Charges:

Reducing Rate (as advertised): Starting from 4.79% p.a.

Flat Rate: 2.87% p.a. (As per 25 years tenure)

Pre approval Fees: AED 3,150

Processing Fees: Waived

Property valuation Fees: AED 2,625

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

Partial Settlement Fees: 1% of the partial settlement amount

Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months for salaried

Salary Transfer: Compulsory

Minimum Down payment:

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

Key Details:

Maximum Finance Amount: AED 15,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: All Ready properties with Title Deed.

Takaful – Insurance (Compulsory):

Life Insurance: 0.03% per month (on finance amount)

Property Insurance: 0.0378% p.a. (on property value)

Documents Required

Common Documents:

Duly completed and signed application form.
Valid Passport, Resident Visa and Emirates ID Copy.
Khulasat al Khaid Copy (For UAE Nationals).
Offer Letter Copies of All Personal Ongoing Finance.
Liability Letter (In case of Buyout Finance only).
Relevant property Documents (Not required for preapproval).

Salaried Client Documents:

Latest Salary Certificate addressed to Ajman Bank.
Latest 6 Months Personal Bank Statement.

Self-Employed Client Documents:

Valid Trade Company license.
MOA (Memorandum of Association) including all amendments.
Latest 6 Months Personal Bank Statement.
Latest 6 Months Company Bank Statement.
Audit Financials of last 2 years.
Offer Letter Copies of All Company Ongoing Finance (For Self Employed).

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.
Terms and conditions apply.