Al Hilal Bank Home Finance

Minimum Salary
0,00 د.إ

Description

Al Hilal Bank’s Sharia’h-compliant Ijarah Home Finance offers variable profit rates starting from EIBOR + margin (e.g., 2.49% p.a. based on 3-month EIBOR 0.355% + 2.135% margin), tenors up to 25 years, financing up to AED 4 million, with no early-settlement fees for sale-driven closures and life Takaful cover included.

Features

Eligibility Criteria

Applicants must be UAE residents or expatriates, aged 21–70 (maturity), with minimum income:

Single applicant: AED 15,000/month; joint applicants: AED 25,000/month
No mandatory salary transfer
Self-employed: valid trade license and financials
Non-residents: subject to Bank’s discretion and additional documentation

Financing Amount & Tenor

Facility amount: AED 5,000–4,000,000
Tenor: 1–25 years (12–300 months)
LTV: up to 85% for UAE nationals; 80% for expats; subject to Bank’s credit evaluation

Profit Rate Structure

Variable Rate: EIBOR (1/3/6/12 months) + fixed margin (e.g., 2.135% margin + 3-month EIBOR = 2.49% p.a.)
Fixed Rate: locked for tenure or introductory 1–5 years at chosen EIBOR frequency (adds 10–20 bps for 6/12-month reviews)
Rate Floor and Cap: minimum and maximum rates set per product; margin remains constant, EIBOR resets at review

Detailed Schedule of Fees

Fee Type	Charge
Documentation & Study Fee	AED 10,500 (includes 5% VAT)
Valuation Fee	AED 3,150
Early Purchase Price	1.05% of outstanding principal (max AED 10,500); nil if property sale triggers settlement
Late-Payment Charge	Commitment to donate AED 500 per missed installment; legal fees and enforcement costs borne by customer
Cooling-Off Period	5 working days; facility revocable during this period without penalty
Account Statements & Letters	AED 100–150 per document
Legal & Enforcement Expenses	Actual costs on solicitor-and-client basis
Takaful (Life & Property)	Mandatory life Takaful; property Takaful arranged by Bank; cost financed within facility

Documents Required

Valid passport, Emirates ID, residence visa (if applicable)
Salary certificate or trade license (self-employed)
Last 6 months’ bank statements; liability letter
SPA/booking agreement; title deed; valuation report
Takaful proposals for life and property

Additional Info

Al Hilal Bank Home Finance provides:

Sharia’h-compliance via Ijarah Muntahiya Biltamlik contract with donation/sale transfer upon completion
No early-settlement fees when selling the property and settling the finance
Flexible profit-rate options: fully variable or intro-fixed then variable
Inclusive Takaful cover: life and property protection built into the facility
Cooling-off period: 5 days to reconsider without penalty
High tenure & LTV: up to 25 years and 85% (nationals)
Transparent fee structure: fixed documentation and valuation costs