Interest Rates & Charges:

Reducing Rate (as advertised): Starting from 3.98% p.a.

Flat Rate: 2.32% p.a. (calculated as per 25 years tenure)

Processing Fees: 0.25% of the loan amount (Minimum AED 3000+ Vat), Nil for buyout

Property valuation Fees: AED 3,150 (50% waiver on disbursement)

Early Settlement Fees: 1% of Outstanding Loan or AED10,000 (whichever is lower)

Partial Settlement Fees: Flexibility to repay up to 15% of your outstanding balance per annum without penalties

 

Finance Requirements:

Minimum Income Requirement:

• For salaried AED 12,000
• For self-employed AED 20,000

 

Minimum Length of Service Required: 6 months for salaried; 3 years for self-employed

Salary Transfer: Not compulsory, Better rates are possible with salary transfer

Minimum Down payment: 

• For first property (If property price < AED 5M): 20% for Expats
• For first property (If property price > AED 5M): 35% for Expats
• For second property: 40% for Expats

Note: Fee Financing also possible

Key Details:

Maximum Finance Amount: AED 20,000,000

Islamic Finance: Yes Available

Maximum Term: 25 Years

Finance available for: All Ready Villas or apartments registerable with Lands department and for approved off plan properties

 

Insurance (Compulsory):

Life Insurance: 0.01167% of the finance amount per month

Property Insurance: 0.04% per annum