Dubai Islamic Bank (DIB) Home Finance

Minimum Salary
0,00 د.إ

Description

Dubai Islamic Bank’s Sharia’h-compliant Al Islami Home Finance offers variable profit rates starting from 3.24% p.a., financing up to 85% of property value (80% for expats), tenors up to 25 years, 1% processing fee (waived on balance transfers), no salary transfer requirement, and inclusive Takaful coverage with flexible repayment options.

Features

Eligibility Criteria

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

Minimum Salary: AED 12,000/month for expats; AED 10,000/month for nationals
Self-Employed: Valid trade license, audited financials, 3 years’ business history
Credit Record: Clean UAE credit bureau
Down Payment: Minimum 25% of property value

Loan Amount, Tenor & LTV

Financing Amount: 25%–85% of property value (nationals); 20%–80% (expats)
Tenor: 60–300 months (up to 25 years)
Product Variants:
- Standard Ijarah: Completed properties
- Forward Ijarah: Off-plan and construction finance
- Buyout Ijarah: Balance transfer/refinance with no processing fee
- Equity Release & Top-Up Finance

Profit Rate Structure

Variable Profit Rate:
- 24% p.a. reducing (equivalent flat ~1.79%) for buyout cases; 3.49% p.a. for standard Ijarah^[1]
- Rate = EIBOR (6-month) + margin (typically 2.00%–2.25%)
Fixed-Rate Option:
- Introductory fixed rates for freehold segment under Murabaha
- Post-fixed, reverts to variable structure

Detailed Schedule of Fees

Fee Type	Charge
Processing Fee	1.00% of finance amount; 0% on balance transfers and refinances
Valuation Fee	AED 3,150
Early Settlement Fee	1.00% of outstanding finance (cap AED 10,000)
Partial Prepayment	1.00% of prepaid amount (cap AED 10,000)
Delayed Payment Penalty	1% p.a. on overdue installments (charity donation basis)
Study & Documentation Fee	AED 10,500 (includes 5% VAT)
Account Statement & NOC	AED 100–150 per document
Legal & Enforcement Costs	Actual solicitor-and-client expenses
Takaful (Life & Property)	Group Takaful: up to 0.03% per month (life); property Takaful financed within facility
Cooling-Off Period	5 working days revocation without penalty

Documents Required

Passport, Emirates ID, UAE residence visa copy
Salary certificate or trade license; audited financials (self-employed)
Last 6 months’ bank statements; liability letter
SPA/booking agreement; title deed; valuation report
Takaful proposals for life and property insurance

Additional Info

Sharia’h-Compliant Ijarah: Lease-to-own structure culminating in property ownership
No Salary Transfer Requirement: Apply without transferring salary to DIB
Balance Transfer Waiver: Zero processing fee on buyout of other banks’ mortgages
Comprehensive Product Suite: Standard, Forward, Buyout, Equity Release, Top-Up
Flexible Profit-Rate Options: Variable and fixed introductory rates
Inclusive Takaful Cover: Life and property insurance financed within the facility
Digital Convenience: Online pre-approval, e-signature, and mobile banking management
Grace & Cooling-Off: 5-day revocation and payment holidays for construction finance
High Financing & Long Tenors: Up to 85% LTV and 25-year tenor