Standard Chartered Saadiq Home Finance

Minimum Salary
15.000,00 د.إ

Flat Rate
AED 3.59%

Reducing Rate
5.8 %

Maximum Term
25 Years

Monthly Payment
AED 4,741

Description

The Standard Chartered Saadiq Home Finance has everything you need to own the perfect home. With its additional features the experience of buying your dream home will be even more enriching.

Major Advantage: Low salary requirement, High finance amount

Points to Consider: Finance available for completed properties only

Features

Profit Rates & Charges:

Reducing Rate (as advertised): Starting from 0.99% + 3M EIBOR (Per Annum)

Processing Fees: Nil

Property valuation Fees: AED 3,000

Early Settlement Fees: 0.525% of outstanding Loan or AED10,000 (whichever is lower) within 5 years, zero fee after 5 years

Partial Settlement Fees: Free for settlement of up to 30% of outstanding per calender year

Finance Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months for salaried; 2 Years for self employed

Salary Transfer: Not Compulsory

Minimum Down payment:

For first property (If property price < AED 5M): 20% for UAE national, 25% for Expats
For first property (If property price > AED 5M): 30% for UAE national, 35% for Expats
For second property: 35% for UAE national, 40% for Expats

Key Details:

Maximum Finance Amount: AED 18,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: Almost all ready properties in Dubai, Abu Dhabi & Ras Al Khaimah

Takaful:

Life Takaful: Optional

Property Takaful: 0.0483% p.a. (on property value)

Documents Required

Common Documents:

Valid Passport, Resident Visa and Emirates ID Copy.
Offer Letter Copies of All Personal Ongoing Finance.
Rental Income Document (If any).
Liability Letter (In case of Buyout Finance only).

Salaried Client Documents:

Latest Salary Certificate addressed to Standard Chartered Bank.
Latest 6 Months Salary Bank Statement.
Six months Pay slips if there is variance in Salary.

Self-Employed Client Documents:

Valid Company Trade 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.

Additional Info

All info mentioned can change at any point of 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, which is an approximate rate.
Terms and conditions apply.
Reducing Rate of 5.8% is calculated as per EIBOR rate of 7th March 2023 i.e. 4.81%.