Bank of Sharjah Home Loans

Minimum Salary
0,00 د.إ

Description

Bank of Sharjah’s home financing offers conventional mortgage solutions with loan amounts up to AED 5 million (subject to income), tenors up to 25 years, interest rates ranging from 10–15% p.a. (depending on profile and tenor), and transparent, capped fees (processing fee 1%, maximum AED 2,500) combined with flexible repayment and competitive customer benefits.

Features

Eligibility Criteria

Applicants must be UAE residents or expatriates aged 21–65 at maturity, with:

Minimum Income: AED 10,000/month for salaried applicants
Employment Tenure: Minimum 6 months in current role
Self-Employed: Minimum AED 3 million annual turnover, audited statements
Credit Record: Clean UAE credit bureau history
Nationality: UAE Nationals and expats eligible; non-residents considered case-by-case

Loan Amount, Tenor & LTV

Financing Amount: AED 250,000–5,000,000 (subject to income and credit)
Tenor: Up to 300 months (25 years)
Loan-to-Value: Up to 75% for ready properties; up to 60% for under-construction or land

Interest Rates & Structures

Variable Rate: 10–15% p.a., set at approval based on Risk Grade and EIBOR
Fixed-Rate Option: Available on request for initial 1–5 years at a fixed margin above EIBOR
Rate Reviews: Quarterly or semi-annual repricing tied to EIBOR adjustments
Penalty Rate on Arrears: 2% p.a. on overdue amounts

Detailed Schedule of Fees

Fee Type	Charge
Processing Fee (New Loans)	1% of loan amount (min AED 500; max AED 2,500)
Processing Fee (Top-Up Loans)	1% of additional amount (min AED 500; max AED 2,500)
Partial/Early Settlement	1% of amount prepaid (allowed after 3 months; max AED 2,500)
Loan Rescheduling	AED 250
Installment Deferral	AED 100
Late Payment Fee	AED 200 per occurrence
Overdue Interest Rate	2% p.a. above standard rate
No Objection Certificate	Free
Balance Certificate	AED 50 (individuals); AED 250 (corporates)
Account Statement / NOC	AED 100–150 per document

Documents Required

Passport and Emirates ID copy (with valid UAE visa)
Salary certificate or audited financials (self-employed)
Last 6 months’ bank statements and liability letters
Property documents: SPA/booking agreement, title deed, developer approvals
No penal or adverse records from credit bureau

Additional Info

Competitive Customer Pricing: Flat 1% processing fee versus market average 1.05%
Flexible Repayment: Partial prepayments and deferments to manage cash flow
Conventional & Fixed-Rate Options: Choose fixed initial rate for predictability
Digital Convenience: e-application, online statements, and mobile banking support
Dedicated Support: Relationship managers, branch network, and 24/7 call center
Transparency: Clear fee caps and no hidden charges