Dubai Islamic Bank Mortgage Buyout

Minimum Salary
10.000,00 د.إ

Flat Rate
AED 3.01%

Reducing Rate
4.99 %

Maximum Term
25 Years

Monthly Payment
AED 4,380

Description

Dubai Islamic Bank understands that one of the greatest joys is to own or build your dream home. Al Islami Home Finance offers you a range of options to suit your specific needs. DIB offer financing for residential and commercial properties. It also offers refinancing options for customers who may already own a property or are availing of a mortgage with another institution.

Major Advantage: High finance amount

Features

Profit Rate & Charges:

Profit Rate: Starting from 4.99% p.a. fixed for 1 year (reducing rate)

Flat Rate: 3.01% p.a

Processing Fees: 0% for buyout Cases

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

Finance Requirements:

Minimum Salary Requirement: AED 10,000 for UAE Nationals, AED 12,000 for Expats

Minimum Length of Service Required: 6 months for salaried

Salary Transfer: Not compulsory.

Minimum Downpayment: 20% (Fee Financing also possible)

Key Details:

Maximum Finance Amount: AED 50,000,000

Islamic Finance: Yes

Maximum Term: 25 years

Finance Available For: Any ready property which can be registered in the name of the customer in the relevant authority (across UAE).

Takaful – Insurance (Compulsory):

Life Takaful: 0.36% per annum (on outstanding balance)

Property Takaful: 0.03% per annum of property value

Documents Required

Common Documents:

Valid Passport, Resident Visa and Emirates ID Copy.
Offer Letter Copies of All Personal Ongoing Finance.
Khulasat Al Qaid
Rental Income Document (If any).
Property Documents (If Property is Finalized or Equity Release).
Liability Letter (In case of Buyout Finance only).
Relevant property papers.

Salaried Client Documents:

Latest Salary Certificate addressed to Dubai Islamic BANK.
Latest 6 Months Personal Bank Statement.
Six months Pay slips if there is variance in Salary.
Salary Transfer Letter.

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 in 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.