Interest Rates & Charges:

Reducing Rate (as advertised): Starting from 3.89%

Flat Rate: 2.26% p.a. (As per 25 years calculation)

Processing Fees: 0.52% (for resale) / 1% (For equity release) (Nil on buy out transaction)

Preapproval Fees: Nil

Property valuation Fees: AED 2,500 (for salary transfer clients)

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

Partial Settlement Fees: Up to 20% of the loan outstanding without any charge (once a year)

 

Finance Requirements:

Minimum Salary Requirement:

• Minimum monthly income for Salaried: AED 15,000
• Minimum monthly income for Self-employed: AED 50,000

 

Minimum Length of Service Required: 6 Months for salaried; 2 Years for Self Employed

Salary Transfer: Not Compulsory

Minimum Downpayment:

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

 

Key Details:

Maximum Finance Amount: AED 10,000,000

Islamic Finance: Both Conventional and Islamic available

Maximum Term: 25 Years

Finance available for: All ready properties with title deed in Emirates

 

Insurance (Compulsory):

Life Insurance: 0.1728% p.a. on outstanding balance

Property Insurance:  0.06% p.a. (on property value)