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Best time to make a credit card payment in UAE | Compare4Benefit

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Credit cards provide short-term loans that come with a lot of benefits. In addition to different credit card benefits and offers, you also get bill payment advantages.

Some banks provide up to 15 days grace period for repayment of the credit card bill. These features can be beneficial and advantageous at the same time.

Understand your credit card statement

Before jumping into when and how much to pay, you should first understand how your credit card statement works.

Once in a month, your bank issues a statement that outlines a handful of things:

  • How much you charged to your card in the current billing cycle.
  • How much you still owe from your previous statement (if this isn’t 0 AED, then you will also be charged interest on the outstanding balance).
  • The total balance owing.
  • The minimum payment you must make.

A lot of financial institutes offer a grace period between 10 and 20 days to pay the credit card bill. Generally, people tend to pay back their bills within the due time.

But not everyone is certain that they will be able to make back the amount within the particular period.

If you are confused as to when it is the right time to pay back your credit card bill, then we have just the right guide for you.

Paying Off The Bill Prior To The Closing Date Of Account Statement

You can clear the credit card bill partially or completely before you get the account statement. If you have cleared the bill partially, then the rest of the amount will be updated on the account statement along with the amount that you have cleared on that month.

Clearing the credit card bill prior to the billing cycle is a great way to improve your credit score. Having a high credit card balance during the billing cycle is an indication of high credit utilization, which may impact your credit report adversely.

Paying Off The Bill After The Closing Date Of Account Statement

After the account statement has been released, the credit card company will give a grace period to the account holder. This period can range between 10 days and 20 days. When you pay during this period, you do not have to bear any late payment charges.

But bills paid after the due date can impact your credit report, which shows your credit utilization. So in the future, if you want to avail of a new loan or a new credit card, the banks will check the credit utilization before approving your application.

Paying Bill After The Due Date

You should never leave your bill repayment until after the due date. This is because the banks will charge late payment fees as well as the interest rate. Typically, the payment fee comes around 1% and 2% of the bill amount. On the other hand, the interest rate stands at a minimum of 1.95%.

The interest rates and late payment charges both differ from one bank to another. Along with having to pay additional charges, when you pay the bill after your due date, it negatively impacts your credit score. Therefore, to maintain a good credit score, make sure to pay the credit card bill in a timely manner.

Factors That You Should Be Considering When Investing In A Credit Card in UAE

The credit card has emerged as a necessity in the modern world. It does not just help in fulfilling the daily expenses but also helps in maintaining a certain lifestyle.

But when buying a credit card, you have to be extremely careful about card limits and terms and conditions. Here are some factors that will help you make an informed decision with regards to a credit card:

Understand The Document Required

When you are buying a credit card in Dubai, you need to have certain documents that include:

  • Application for credit card
  • Salary slips or banks statement of the bank where your income is credited
  • Original passport
  • Emirates ID
  • Residence Visa
  • Expats also need to produce proof of residence like title deed, rental agreement, utility bill, etc.

Cashback Cards v/s Reward-Based Cards

Some credit cards offer cashback on the overall monthly spend. On the other hand, some credit cards come with exciting offers in the UAE like travel, lifestyle, shopping and dining benefits, and discounts.

You need to assess the main purpose for which you will be using the credit card and select your preferred one accordingly.

In case you want cashback more than the rewards, then you should select a cashback credit card. Contrarily, if your goal is to use the credit card essentially for lifestyle rewards and discounts, it would be better to opt for a reward-based credit card.

                     Apply for a cashback credit card in UAE

Annual Fee

With a credit card, you need to pay a certain annual fee; and the amount is based on the card that you have selected. Premium credit cards allow more benefits, but they charge a high annual fee. So you need to assess whether or not the offers that these high-end cards are offering benefit you.

But some credit cards do not charge an annual fee from you and are known as free of life credit cards. In certain cases, the cardholders agree that they tend to spend above the predetermined minimum amount by the bank, and the bank may decide to remove the charged annual fee.

Apply for no annual fee credit cards in UAE

Interest Rate

Once you have shortlisted a couple of credit card options, then it is time to check the interest rates charged by each of them.

If you are unable to pay back the amount timely every month, then the late payment will be charged by adding the interest rate.

It is better to go for a credit card that has a low interest rate.

If in case you cannot manage to pay back timely in a month, you do not have to worry about high monthly interest.


Every credit card comes with certain eligibility criteria. There is a minimum salary requirement that you need to adhere to. Additionally, based on your salary, the bank will provide you with various credit card options.

Prior to selecting a credit card, you need to check and figure out the cards that you are eligible to get depending on the monthly income.

Certain banks provide you with credit cards even if you are self-employed or do not have a steady income as long as you have a certain amount of money in your bank account.

Credit cards allow you to avail a lot of benefits. But it is important to repay the bill in a timely manner to maintain a good credit report.


Best Home Loans in UAE 2021 | Complete Guide – C4B


Dubai is a place where you will find people from all around the world living there and sharing their cultures. You will find so many expatriates living in this city, making it expansive. If you have planned to make a real estate investment, you should go for a good property in a good location. And you will find some great options that align with your needs and financial preferences.

One of the biggest steps in buying a property is getting a loan. Although there is no dearth of options for expatriates to get home loans in UAE, they need to follow a procedure to avail the same. 

Who Can Take Home Loans in UAE?

Whether you are looking for a villa, townhouse, or apartment, you can get a home loan for your every need. If you fulfill the eligibility criteria, then you can apply for home loans in UAE. The criteria include –

  • For a salaried individual, he/she should be between 21 and 65 years old and if the applicant is self-employed, the age limit extends to 75 years.
  • Having a monthly income of AED 12K is salaried, and AED 25K is self-employed.

As per the Dubai mortgage law, expats can avail home loan of up to 80% of the overall value of the property they want to purchase. This means 20% of the property value will be the initial deposit for a property below AED 5 million.

Moreover, off-plan property mortgages in Dubai have slightly different loan caps. The minimum amount you need to pay as a down payment is determined by the purchase value of the property and the resident status of the buyer.

  • The UAE Mortgage law requires expats to have a down payment 20% of the property value. For UAE nationals, they have to pay 15% down payment upfront, including associated purchase costs. for expat residents.
  • For property above AED 5 million, the down payment is 30% and 40% if it is your second or third property.

What Guidelines Expatriates Must Fulfill To Get Home Loans In Dubai?

Banks must comply with certain criteria to offer home loans UAE. They follow a procedure; the following aspect of the expat is assessed –

  • Credit history
  • Time spent within the UAE (Generally 6 years)
  • Length of employment in the UAE
  • Business period spend in UAE (Ranging between 2 and 3 years)

Adhering To The Pre-Requisites

Home loans or mortgages are a popular and common phenomenon in every city, and Dubai is no different. There are different kinds of home loans UAE that are offered in certain conditions, along with the ones mentioned above.

First, you should figure out the amount you would have to pay upfront.

Secondly, based on the mortgage duration, you should consider whether to choose a fixed interest rate or variable interest rate.

These are two important considerations that every expats should look into when buying a home loan UAE.

1. Upfront Cost

When buying a property, you have to pay a certain amount upfront. Along with the down payment for the property, you would also have to take care of registration fees, transfer fee, valuation fee, real estate commission. Here is a cost breakdown of all these things:

  • Down Payment – 20% of the purchase price for property under AED 5 million.
  • Transfer fee – 4%
  • Mortgage registration fee – 0.25% of the finance value
  • Real-estate commission – 2% but can vary
  • Valuation fee – between AED 2,500 and AED 3000.

Some banks in the UAE also allow expats to add three-quarters of the overall purchase fee for the mortgage loan they are taking.

2. Pre-Approval Of Mortgage

Before you set out for a house hunt, you should get pre-approval for a mortgage. This will help you to narrow down the search based on your specific budget. Additionally, when signing the sales agreement, you will need to give a cheque amounting to 10% of the overall purchase price.

So if you do not get financial approval and the bank later refuses to finance you, then you will end up losing the deposit amount you have paid to the bank.

3. Valuation Clause Of Sales Agreement

Make sure to assess and check whether or not your property has a valuation clause. Before offering home loans UAE, banks perform a thorough assessment and of the steps in property evaluation. If, during this process, the property value comes as overpriced, the bank may adjust the finance amount as pee the valuation of the property.

This is where the valuation clause will protect the deposit you have put up with the bank. The valuation clause is basically a provision in the sales agreement that highlights the amount you will receive from the bank in case a hazardous event occurs.

4. Repayment Value

Generally, the repayment value of the bank depends on the monthly income. In normal circumstances, the repayment value is not more than 50% of the monthly income.

Furthermore, if you also have other loans, the overall amount is deducted from your calculations. Each bank has a unique formula to calculate an applicant’s borrowing capacity.

Duration Of The Home Loans In Dubai

Whether you are a resident or expat, you need to be under a specific age threshold to acquire home loans in UAE. Home loans are offered for a maximum of 25 years in the UAE, wherein for salaried individuals the age limit is 65 years, and for a self-employed individual, the age limit is 70 years.

When you increase the duration of the loan, you will have to pay lower EMIs, but it increases the interest amount. Moreover, your borrowing capacity also increases when you choose a long-term mortgage in Dubai.

Another option is to choose the longer-term loan and reduce the duration by paying an extra amount every year. Without a penalty, you can repay 10% extra of the principal amount every year. Make sure you get professional assistance so that you can be more informed about your options and make well-informed choices.

 Home Loan Rates In Dubai and UAE

Interest on home loan UAE can vary between 2.10 and 5%. Presently, the rates are lowering and reported to lower even further in the coming times. However, these rates are extremely volatile. If you choose a fixed rate, then it will remain the same for two years. Post this period, banks will apply for a revision payment.

If you have paid a lower upfront payment, the revision rate could be higher. Although you can get a fixed rate for five years, you will have to pay a higher rate of interest. The interest rate could come between 2.99% and 3.25%.

Furthermore, variable interest rate home loans are another option that expats should be looking at. However, it can be a trick to predict the overall money you will be paying through the course of the loan tenure. When we are dealing with a variable interest rate mortgage, it becomes impossible to perform accurate budgeting.

But if you have a good market understanding and feel that in the future, the interest rate will go down, then choosing variable interest means that you will be paying less. But you cannot base the decision merely on your intuition, as things can go south anytime. Your predictions may turn out to be wrong, and the interest rate could increase.

And if that happens, you may or may not be prepared for financials. So, these are critical choices that you need carefully after doing thorough research on your part.

 Switching Between Mortgage Providers

In recent times, the process of switching between lenders has become easier. The penalty for this is capped at AED 10,000. However, earlier, you had to pay 5% of the overall amount.

If you have good negotiation skills, then you can convince banks to provide you with more profitable terms based on the market conditions.

When it comes to assessing home loans UAE and taking the best decisions, you have to be proactive and well informed. With smart research and decision making, you can get a great deal on your home loan.

 The Types Of Home Loans In UAE

Banks have come up with different kinds of home loans UAE with distinctive features, benefits and interest rates. You will find a home loan for a wide range of finance requirements:

i. Fixed-Rate Mortgage

It is a popular and traditional type of mortgage available in the UAE. As the name suggests, the interest rate of the loan remains the same across the loan tenure. And this rate will be predetermined during the loan approval process, which will be adhered throughout the period of the loan.

At home financial institutions, the fixed rate will not stay the same throughout the tenure of the loan. Lenders may charge you with a fixed rate for a particular period then charge a variable interest rate based on the Emirates Interbank Offered Rate (Eibor).

ii. Discount Rate

In this type of mortgage, finance offers depend on the standard variable rate. Lenders offer a specific percentage of discount on the particular interest rate – for instance, 0.5% off for the first three years. Moreover, this discount is offering a welcome or introductory offer. Looking at the feature, this may look like an attractive mortgage, but it is expensive, and the discount remains active for a specific time period.

iii. Variable Rate Mortgage

It is the exact opposite of a fixed-rate mortgage. It continues to fluctuate on a regular basis. The rate can rise or fall as per the Eibor. However, some lenders have a standard variable rate that is lower than the fixed rate. And, the calculation of the interest rate can differ as per the type of mortgage.

If you are considering going for a variable rate mortgage for your property, then you have to be prepared to deal with fluctuations as it will definitely influence your monthly expenses.

 iv. Capped Mortgage

 The rates of variable mortgage are lower as opposed to its counterpart, fixed-rate mortgage. However, variable rates can be highly volatile as they tend to increase or decrease at any time. It can put you in a stressful situation time and again.

To make things more efficient, financial institutions offer an option known as a capped mortgage. The maximum cap is predetermined, and if the rates of Eibor increase, your monthly installment you are paying will not exceed a predefined cap.

However, this type of mortgage is only valid for a specific time period as a welcome offer.

v. Offset Mortgage

This is a rather new home loan concept in the UAE, and not many lenders offer this kind of loan. In an offset mortgage allows the loan holders to link their loan account with a credit card account, current account, and savings account. Whenever funds are added to any of the linked accounts, the overall value of the loan amount gets reduced by that amount.

vi. Remortgage

 A remortgage is basically acquiring a mortgage loan on the current mortgage or transferring your existing mortgage to a new lender. This is also known as balance transfer in the UAE.

The loan can be acquired from the same lender or a different lender. The phenomenon of remortgage is only beneficial if the new loan you are getting is offered at a lower interest rate or you are getting additional funds.

The Documents Needed To Acquire A Home Loan in UAE

 To apply for a home loan in the UAE, you have to first fill the application form. Subsequently, you will need to submit certain paperwork required by the bank.

The kind of documents you will need to submit will differ from one bank to another. However, generally, banks require you to apply for a home loan with the following documents:

  • A copy of your Emirates ID
  • A copy of your passport and visa
  • A salary certificate verifying employment
  • Proof of residence like DEWA bill, tenancy contract
  • The latest credit card statements
  • Bank statement and payslips for the past six months.
Final Thoughts

To avail of the home loan, you must apply with a bank that is registered with the Dubai Land Department to be valid. You can either direct liaise with the bank or go through a broker.

    Apply for a Home loan or Mortgage in UAE

There are various types of mortgages in dubai, and largely they fall under the categories of fixed or variable rate mortgages.

To choose the right mortgage, you should consider the following factors the amount of loan you require, your lifestyle, the property type you want to purchase, and the cash deposit you can afford.

And once you have gotten the pre-approval for your loan, you can look for a property that is perfect for you and your family.


Best Investment Options In Dubai For Expats


Dubai is an excellent place for real estate investment for many reasons. Per square foot, property prices are lower than in many other cities around the world. Moreover, it provides a higher rental yield; you can expect to achieve yields between 5% and 9%.

Even if you are an expat, you can get a higher level of returns that you would not find in any other prime locations. The greater ROI is coupled with convenient and flexible regulations, making Dubai a great prospect for real estate investment.

It is a big city, and there are a lot of things to consider when choosing investment options in Dubai. And in the article, we will help you make an informed decision.

What Are The Types Of Properties Available In Dubai?

Following are real investment options in Dubai you will come across :

1. Freehold Properties

Freehold properties are highly sought out by expats for residential purposes. The freeholder owns the property outright that includes the land it is built on.

With these properties, you do not have to worry about the lease running out, dealing with the landlord, or paying rent services charges or landlord charges, etc.

2. Commonhold Properties

They are basically condominiums in different parts. Investing in a commonhold property offers you the right to buying, renting, or selling the property for inheritance purposes. These properties share a lot of similarities with apartments.

So you will have to bear property maintenance fees of the building and common areas. These buildings are generally owned by property developers of a real estate developer.

If you want to invest in a commonhold property, you will have to buy it through a UAE government-approved real estate developer.

3. Usufruct Properties

 This is another type of property, which is common in Dubai. This type of property focuses on offering a lease for a long time period. After purchasing the property, you can do whatever you want with it and have a life of up to 100 years.

When buying usufruct properties, it depends on whether or not you want to invest in commercial or residential property.

‘Additionally, your negotiation skills will also play an important role here.

Factors To Consider When Buying Real Estate In Dubai


1. Market Research   

Dubai encompasses a lot of interesting investment options in Dubai, and this could make it confusing for you to make a definite decision. This is why the first step should be to do thorough research on your market.

To start with, read about the existing trends, patterns, and predictions of the real estate market and financial investment. The more comprehensive your research, the better deal you are likely to get.

2. Location

After researching how the market is performing and its trend, you need to direct your research to be more specific. Location is one of the prominent factors that will help you make the right investment decision. For instance, if you are looking for a premium location, then you should know prime locations in the city. Looking for a good location will allow you to improve your lifestyle.

3. Tenure

Prior to making a real estate decision, you should consider the overall tenure till which you plan to be in Dubai. This duration will assist in evaluating the overall value that you can obtain from potential return on investment.

However, if you are not sure about your long-term plans, then renting the property is a smarter decision.

4. Rental Yields

Buying a property or flat in Dubai means you can offer it for rent and gain further monetary benefits. So, the rent can help you cover the mortgage as well as maintenance expenses.

Therefore, you should consider the rental yields that a property offers. Buying a property in a good location can allow you to gain higher rental yields.

4. Affordability

When buying a home, your housing expenses should not exceed over 25% of the total income. Therefore, affordability is another factor that you should consider when buying a property. Consider the upfront fees that you have to pay for the property; it would account for around 6%-7% of the overall purchase price.

It is imperative to closely monitor the maintenance fees and annual services charges. When your finances are organized, you are likely to be dealing with financial complications in the later stages.

5. Residence Visa

A Residency visa is not compulsory to buy a property in Dubai irrespective of the value, but it can fasten the process. Residential visas come in two types in UAE.

The first is a six-month, multi-entry visa, and the other is a two-year visa for residency. Moreover, if you were buying a property for AED 5 million or above without a certain mortgage value and retained the property for at least 36 months can help in getting a residence visa for five years or more. But there are certain specific eligibility conditions that need to be fulfilled.

How Much Does It Cost To Buy A Property in Dubai?

Along with the cost of the property, expats will have to bear other costs as well that include

  • NOC fees generally range between AED 500 and AED 5000. You can directly pay it to the property or real estate developer.
  • You have to pay for the registration of the property, which accounts for 4% of the overall purchase price of the property.
  • You have to pay a commission to the real estate agent. This cost could be approximately 2% of the price of the property you have purchased.
  • Expatriates who want to buy a real estate property that is worth below AED 5 million can borrow approximately 80% of the overall property value. On the other hand, UAE citizens can borrow about 85% of the property value.
  • Expatriates who are buying a real estate property valued at AED 5 million or above for the first time, then you may be able to borrow 65% of the property value. On the other hand, UAE citizens who are first-time buyers can borrow around 70% of the property value.
  • For the second purchase, ex-pats have the option of borrowing approximately 60% of the property value.
  • Buyers who are off-plan properties need to make a 50% deposit.
  • A buyer must not have a debt-to-income ratio of over 50%.
  • The mortgage period should not increase by over 25 years and there is a certain age limit which is 60 for salaried and 75 years for self-employed.
  • Expats have options to make an application for a certain loan amount that should not go over the annual income of revenue by seven times.

How To Get Mortgage In The UAE?

Buying a property requires you to make a significant investment. And it is not possible to always have that kind of money. This is where a mortgage loan proves to be helpful.

You can liaise with a reputed financial institution to get reliable advice regarding financing the property. By leveraging expert advice, you will be making a more informed decision.

The professionals will also provide you with all the investment options in Dubai based on your circumstances.

Related: Check Mortgage Rates in UAE



What Documents do You Need To Purchase Property In Dubai?

Following are the documentation you need to fulfill before you can own property –

1. A Buyer And Seller Agreement

After you have decided on the property you want to purchase, you need to negotiate and lay out the sales term with the seller. Your negotiation skills can help you get a better deal on the purchase of the property. Once the contract is made, make sure you read it through so that there is no ambiguity.

  2. The No Objection Certificate

You need to make an appointment with the developer’s office to get the NOC. Without this document, you will not be able to get ownership of the property. Moreover, you will have to pay certain fees to get the No Objection Certificate.

  3. Affecting The Transfer Process

After getting the NOC, that final step is to meet the seller to affect the transfer. For this process, you should submit the following documents –

  • The identification documents of seller and buyer such as passport, visa, and Emirates ID.
  • A Cheque from the manager for the property value that the buyer needs to pay to the seller.
  • The No Objection Certificate provided by the developer.
  • Signed Contract of MOU (Memorandum of Understanding)

What Are The Property Taxes In Dubai?

There are no property taxes in Dubai, making it an ideal destination for buying a property. While you do not have to pay for taxes, the government levies certain monthly housing fees known as the municipality tax.

Additionally, house owners also need to pay a transfer fee of 4%. You will need to pay 5% of the average rental value in a particular area to the Dubai Land Department.

Final Thoughts

Buying property in Dubai can be highly profitable as there are tons of options, the process is extremely simple, and there is no heavy taxation.

The way you make use of investment options in Dubai will determine the kind of yield you will get from the same. And above, we have included all the necessary information that you can refer to when buying a property in Dubai.

Mortgage Refinancing UAE 2021 : All You Need to Know

Mortgage Refinancing

Planning to buy a property in the UAE? Read this quick guide about cutting monthly mortgages!

The pandemic has wreaked havoc on the world in different ways. There’s no doubt in asserting that the real estate industry has also shared its consequences. The rising prices of properties had made it further difficult for buyers to make an efficient purchase.

However, there’s one advantage that people can undoubtedly leverage amidst the skyrocketing prices, i.e., low mortgage rates. Indeed, mortgage rates are falling low in the past few months, and it is expected even to plunge deeper.

What is the situation in the UAE market?

UAE has a flourishing market where home buyers have been harnessing the potentials of lower mortgage rates and going for refinancing. Banks and financial institutions are offering lower mortgage rates to aspiring property buyers in the deflated market.

As they have been continuously setting lower mortgage rates, refinancing seems to be the perfect option for UAE property buyers.

Besides offering lower interest rates on variable-rate mortgages, financial institutions are also providing fixed-rate mortgages at lower rates.

Some banks are adding incentives like the inclusion of Dubai Land Development fees and broker fees within the loan amount, along with significant discounts on valuation fees and processing fees.

Surprisingly, the majority of banks have started waiving off the pre-approval of valuation and processing fees when you opt for refinancing your mortgage with them.

One of the UAE buyers stated that he went for refinancing when his rental income fell 20%. He came to find a new tenant for the house long after the house was vacant for four months in the last year, which also affected his income. Only financing appeared to be the ideal alternative to save his income.

Dubai Mortgages

Why has mortgage refinancing in UAE become a necessity?

Opting to refinance your mortgage totally depends on your goals and existing financial situation. A home loan is offered at a longer tenure, ranging from 15-25 years.

Therefore, for the next one to two decades, you will be paying mortgage installments on a monthly basis. Because life is uncertain, it is highly likely that you can experience unforeseeable financial circumstances.

So, you may find it difficult to pay the mortgage loan on time. This is where the significance of refinancing your mortgage loan is realized.

It is essential to understand that mortgage rates have gone severely down in the past few months as compared to previous years. To be precise, the mortgage rate is 3% or lower.

The significant advantage of refinancing to the owner is that it helps in rescaling the monthly payment but at a lower level. As the mortgage rates have come down and it is anticipated to go even lower, refinancing makes all sense at this time.

Here are a few common reasons why refinancing has become a go-to option for home buyers:

  • To get a lower interest rate
  • A new loan can decrease or increase your existing loan period
  • Convert adjustable-rate mortgage to fixed-rate mortgage and even vice versa
  • Raise fund by tapping into home equity

What is Mortgage Refinancing?

Refinancing is when you get a new mortgage loan to replace your current loan. When you refinance, you apply for a new home loan similar to what you did to buy the house. However, this time, rather than using the loan amount to buy a house, you will be using it to pay off your current mortgage. The result is that you will continue paying off your home – but this time, you will be making monthly payments on the new loan rather than the old one.

Raising the LTV has benefitted in a great way

Government bodies and even private dealers have been taking initiatives to encourage buyers.

In March 2020, the Central Bank launched a series of initiatives that were directed to enlighten businesses and residents about the financial effects of the pandemic.

One of the initiatives was focused on raising the Loan-To-Value for first-time homebuyers in the UAE.

Banks started to provide home loans of up to 80% (previously 75%) for first-time property buyers for buying properties valued at or below Dh5 million. In the case of UAE nationals, the home loans were offered from 80-85%.

After which, any buyer who possesses a mortgage from a bank according to the LTV limits will be able to re-negotiate in order to raise the loan or look for another lender. With this, buyers are able to reduce their commitment to the down payment and optimally utilize the low-interest rate.

Industry experts are claiming that the low-interest rates work as a pulling force for newbie buyers to go for a mortgage as it enables them to use their money profitably. Instead of being stuck with one property, they can diversify their funds and get maximum profits out of it.

After what people have gone through financially last year, it makes complete sense to adopt ways that can reduce the burden. Mortgages are one of the biggest financial commitments anyone can have in their account every month, and they would want to get rid of it or lessen it.

Are post hand over plans trending?

According to reports from the banking industry, first-time buyers are interested in mortgages. A majority of buyers have shifted their purchase intentions to this year, looking forward to getting better economic benefits. Of course, the financial situation back then was one of the major reasons why people were thinking of switching.

Developers in Dubai are also offering post-handover payment plans and keeping a low-down payment. By doing so, developers expect that buyers would not seek financial help from banks or, worse, use their personal income to buy a property.

A majority of the post-handover plans are meant for around two-to-five years. The best example of this is Business Bay and the Downtown area in Dubai, where new towers are getting delivered, with real estate companies offering extended post-handover terms to the buyers.

There are lucrative offers going around for a recently completed tower at Business Bay. For instance, property developers are offering 7-year-post-handover plans to buyers with prices starting from Dh710,000.

Post-handover plan Or mortgage? Which is better?

As mentioned above, developers are trying to provide the best buying scenario for the buyers. So, is it still necessary for the buyers to go for financial help from banks?

Mortgages will indeed remain a popular choice, and it is here to stay. At the same time, a post-handover plan has emerged as a feasible option. It has become essential to analyze both the opportunities and find what’s ideal and for the buyers’ best benefit.

Let’s take an example of a property worth Dh2 million with a five-year payment plan. Even after the segregation, the monthly cost to a buyer will fall around Dh33,000, which is paid in quarterly or bi-annual installments.

On the other hand, a majority of buyers would be able to access mortgages that are available for a maximum of 2 years. In this, the monthly installment would be as low as Dh7,000. So evidently, it is a more accessible and profitable approach compared to the payment plan.

Additionally, mortgages will have a security layer of the government and stringent verifications from the banks. So, there are more than one reasons to choose mortgages over payment plans.

Dubai Mortgage for Non Residents in UAE

The Bottom Line

As a property buyer, it is your decision to choose an approach that seems lucrative to you. Both payment plans and mortgages have their sets of pros and cons that you must weigh. However, mortgages are likely on the beneficial side. Hence, now is the time to think about it and grab the advantages.

Make sure to keep this guide handy whenever you want to think about buying properties in the UAE.

Debt Consolidation Loans UAE – August Deals | Compare4Benefit


Here’s everything you need to know about debt consolidation loans in UAE.

A Debt Consolidation Loan allows you to combine all existing credit card debts and personal loans into a single loan with a lower interest rate.

What is Debt Management Plan?

A debt management plan (DMP) is a debt strategy that helps individuals to settle their loans at a manageable cost.

The main advantage of getting a debt consolidation loan is debt management. You pay off all your credit cards and personal loans at once, in exchange for just one monthly payment to your bank at a lower interest rate.

You also have the option to make smaller monthly payments by stretching out the loan tenor up to 7-10 years.

Types of debt that you can consolidate under a debt consolidation plan

The following types of debts can be consolidated :

  1. Credit Card Debt
  2. Personal Loans
  3. Credit Lines

Banks offering Debt Consolidation Loans in UAE

Consolidation is one of the most powerful tools for debt elimination.

  1. Abu Dhabi Islamic Bank [ADIB] Debt Consolidation Loan

adib debt settlement loan


Features of Abu Dhabi Islamic Bank Debt Consolidated Loan

    • Flexible repayment option.
    • It is possible to postpone installments twice in a year for free.
    • Avail a grace period of 90 days for the first installment.
    • Easy processing and huge finance amount
    • Get pre-approved ADIB Visa Cashback Card (Free for 1 year).
    • Attractive profit rates.
    • Zero processing fee.

2. Mashreq Bank Debt Consolidation Loan


Features :

  • Salary transfer is required.
  • Huge loan amount (Up to 1 million AED for expats and 5 million for UAE nationals)
  • Flexible loan repayment tenure (48 months).
  • Reduced interest rates.
  • Avail a grace period of 120 days for the first installment.


3.FAB Debt Consolidation Loan

debt consolidation Loan Fab


Features of FAB Debt Consolidated Loan

  • DBR above 50% is considered. (Exclusively for UAE Nationals)
  • Competitive interest rates.
  • Salary transfer is mandatory.
  • Most Flexible payment option – Up to 12 years.

Who Qualifies for a Debt Consolidation Loan in UAE?

  • To qualify, you must be a salaried employee with an annual income of more than 7000 AED. Depending on the bank, you may need to meet a higher minimum income requirement.
  • DBR [Debt to burden ratio ] should be less than 50%.
  • Applicant must be a resident of the UAE.
  • Should have unsecured debts to consolidate.
  • You can only have 1 DCL active at any one time.

It’s important to note that once you are enrolled in an active Debt consolidated loan, you cannot apply for a new credit card or loan in UAE for some period of time.

Documents Required for debt consolidation loan in UAE

  • Salary transfer letter as per bank format.
  • Residence visa and passport copy.
  • Latest income statements. (3-6 months).
  • Valid Emirates Id.
  • Latest credit card and unsecured loan statements.


Frequently Asked Questions :

  1. Who can apply for a debt consolidation plan?

  Only UAE citizens and expats with a valid visa and passport are eligible for a debt     consolidation plan. On top of these, the bank offering debt consolidated loan may have     further requirements while assessing your eligibility.

2. How much will you owe the bank under a debt consolidation plan?

 After calculating your outstanding bills and interest, banks will add up some more interest charges for your first debt consolidation loan.

3. What kinds of debt can’t be consolidated under DCP?

   Secured loans like car loans and housing loans cannot be consolidated under DCP.

4. What else should you be aware of?

  If your outstanding bills are very high, there’s a chance that your approved DCP loan amount is not enough to cover all your debts.

5. Do consolidation loans hurt your credit score?

Debt consolidation loan can hurt your credit score in several ways, depending on which method you use. Debt consolidation loans normally  do not appear on your credit reports but sometimes banks may ask you to close your credit accounts which may impact your credit scores.

Lowering your debt may help your credit score over time.







Best Cashback Credit cards in UAE 2021 (Updated)

Cashback credit cards uae

Looking for Cashback Credit cards in UAE? Then you are in the right place.

Cashback credit cards is one of the most popular kind of credit card in UAE. Cashback credit cards normally reward you for your spending. There are different types of cashback offers available in the UAE market.

You can use this guide to compare cashback credit card options and discover how you can get the most value out of this type of credit card.

              Related: Compare Cashback Credit cards in UAE.


Summary of Best Cashback Credit Cards in UAE 

No time to read? Here are our picks for some of the best cashback credit cards in UAE.

Credit CardsCard FeaturesMinimum Salary Apply Now
Citibank Cashback Credit Card Unlimited and Automatic cashback on all spend.
Complementary access to over 850 airport lounges.
Free for 1st Year.
8000 AEDApply Now
CBD Now Visa Signature Card50% discount on 4 VOX tickets per month across UAE.
Free Valet Parking.
10,000 AEDApply Now
CBD AL Islamic Visa Infinite Card50% discount on VOX cinema tickets across the UAE.
Complimentary Airport Lounge Access.
10,000 AEDApply Now
ADIB Cashback Visa Platinum Card1% Cashback on All Purchases5000 AEDApply Now
CITIBANK City Prestige CardEnjoy Up to 4 "Buy 1 Get 1" complimentary tickets at Vox Cinemas.
24/7 concierge service.
30,000 AEDApply Now
ADIB Spice Card Up to 9% Cashback on restaurant bills.
7% cashback on supermarket and grocery spends.
Get Dining discounts of up to 25% at selected restaurants.
12000 AED Apply Now


Popular Cashback Credit Cards in UAE 2020

1. Citi Cashback Card:

Cashback Credit card uae

This card needs minimum salary level of AED 8000 but does not need a salary transfer or adhere to Islamic finance.

It has zero annual fees for the first year and from year 2 the card is free unless a minimum annual spend of AED 9,000 is not met .


Benefits of Citi Cashback Credit Card

  •  Unlimited and Automatic cashback on all spend.
  •  Complimentary Travel Insurance.
  •  2% on grocery spending.
  •  1% cashback on all other expenditure.
  •  Complementary access to over 850 airport lounges.
  •  No earn caps on cashback.
  •  No redemption and no minimum spend.

Documents required include copies of valid visa and passport, Emirates ID copy, salary certificate and 3 months statement of salary in the bank.

               Apply for Citi Bank Cashback Credit Card

2.  FAB Cashback Credit Card

The FAB Cashback Credit Card has one of the most generous cash back programs available in UAE and is ideal for anyone who spends significant amounts of money on groceries. With this card, you’ll earn a whopping 5%  cashback on supermarket spends.


Benefits of FAB Cashback Credit Card

  • Minimum salary required is 5000 AED
  • 5% cashback on supermarket spends.
  • 5% cashback on utility payments and fuel.
  • 2% cashback on all non AED spends.
  • Unlimited Complimentary Airport Lounge Access to over 10 Airport Lounge in UAE, KSA, Jordan, Kuwait and Egypt.
  • Get 20% off when you book a ride with Careem.
  •  Movie ticket Offers.

Apply for FAB Cashback Credit Card      

2. CBD Now Visa Signature Card

Cbd Cashback credit card

This card needs minimum salary level of AED 10,000. It neither needs salary transfer nor offers Islamic finance.

It has zero annual fees, but a monthly interest rate of 2.99% after a 52-day interest-free period.

Transaction rate of foreign currency is 2% per month. It is applicable only to overseas transactions. Repayment must be done within 52 days.

Benefits of CBD Now Visa Signature Card

  • Easy 12-month installment plan.
  • Unlimited access to over 550 airport lounges worldwide.
  • 50% discount on 4 VOX tickets per month across UAE.
  • Valet Parking.
  • Attijari Loyalty Program can be redeemed into Skyward Miles or Cashback.

Documents required are Emirates ID, a copy of passport, and residence visa and salary certificate. Self-employed must also provide valid trade license.

For minimum annual spend of AED 5000, perks like movie tickets, and valet parking are available without extra charge.

                       Apply for CBD Now Visa Signature Credit Card                            


3. CBD AL Islamic Visa Infinite Card

When you apply for this card, you will be awarded a guaranteed Travel voucher worth AED 750.Minimum salary requirement is AED 10,000.

There will be no Annual Charges for the first year and one can get loyalty points for one’s complete expenses which can be redeemed as Cashback.


Main Features of CBD AL Islamic Visa Infinite Card

  • Islamic Credit Card.
  • There is balance transfer, and no foreign exchange fee is applicable when you spend overseas.
  • Complimentary Airport Lounge Access.
  • 50% discount on VOX cinema tickets across the UAE.
  • Free Valet Parking.
  • Earn points for every AED 1 spent which can be redeemed as cashback or airline travel miles.

           Click here to apply for the CBD AL Islamic Visa Infinite Credit Card


4. ADIB Cashback Visa Platinum Card

The card features a profit rate of 2.99% and stipulates a minimum salary requirement of AED 5000. The card offers 1% unlimited cashback on all retail expenditure.



Main Benefits of ADIB Cashback Visa Platinum Card

  • Islamic Credit Card.
  • Offers facilities like roadside assistance and 4 supplementary cards.
  • 1% Cashback on All Purchases.
  • No Minimum Spend Required to avail cashback.
  • Valet Parking( only at selected places in UAE)
  • Complimentary Access to Airport Lounges worldwide via Veloce Lounge.

     Click here to apply for the ADIB CashBack Visa Platinum Credit Card


5. CITIBANK City Prestige Card

citi prestige cashback card

This is a cashback credit card with an annual fee of AED 1500 and a minimum salary of AED 30,000.

Citi Prestige Card offers 10,000 bonus thank you points when the card is renewed annually.


Main Features of City Prestige Credit Card

  • Complementary unlimited access to over 750 airport lounges worldwide.
  • Enjoy Up to 4 “Buy 1 Get 1” complimentary tickets at Vox Cinemas.
  • 24/7 concierge service.
  • Free golf services once a month for both supplementary and basic card members in leading golf courses across the UAE.
  • Unlimited supplementary cards for free.
  • Earn ThankYou® Points on your Citi Prestige card and redeem them for free flights or Air Miles.

Get 10,000 Thank you points on yearly renewal.

                Click Here to Apply for the CITIBANK Prestige Credit Card


6. ADIB Spice Card (for Expats)

Adib Cashback credit card

ADIB Spice Card offers one of the best rewards program in UAE. It is an Islamic Credit Card.

Cash withdrawals are available for up to 100% of finance limit. Minimum Salary Requirement is 12000 AED.


Major Features of ADIB Spice Credit Card

  • Up to 9% Cashback on restaurant bills.
  • 7% cashback on supermarket and grocery spends.
  • 4% cashback on fuel.
  • 1% cashback on utility payments.
  • Get Dining discounts of up to 25% at selected restaurants.
  • ADIB Reward Points can be redeemed for airline tickets.

Note: Minimum monthly spend of  3,000  AED is required to avail cashback. 

                          Click here to apply for the ADIB Spice Credit Card

Best Credit Cards for Movie Tickets in UAE 2020 | Compare4Benefit



Are you a movie buff? Then, how it would be if you can get exciting movie ticket offers on your credit card? Really awesome! Isn’t it?

While it comes to the fast life of UAE, it’s considered as a luxury to find out time for watching movies. But, with the passage of time, movie theaters have started providing a full-fledged movie experience to people.

And thus more and more individuals are getting interested to enjoy a lavish cinema watching experience while in the UAE. But, the ticket costs have been also increased in keeping pace with that.

The good news is that banks and other financial organizations in the UAE have started offering discounts, rewards, or cash backs while making different purchases with the credit card. It’s obvious that different credit cards have come with different movie ticket offers. So, let’s take a look at some of the best credit cards’ movie ticket offers:

Compare Movie Credit Cards in UAE 2020

1. Citi Bank Rewards Card

You’ll be glad to know that the Citi Bank Rewards Card offers four “buy one, get one” complimentary movie tickets while it comes to watching movies at VOX cinemas on any of the days of a week.

The Citi Bank Rewards Card holders also receive dining benefits, as it’s associated with the 500+ dining outlets throughout the UAE to offer Fine Dining program.  Moreover, with the Citi Bank Rewards Card, you’ll also get exclusive offer on different aspects, Free Citibank alerting, and many other facilities.

2. Dunia Finance Platinum Credit Card:

Dunia finance offers its services in 30+ languages backed with an unmatched customer-centric approach to better understand the financial needs of each and every customer. Dunia Finance always takes care of the excellent quality of their services, commitment to the customers, customer value, ethics and honesty, and providing top-notch services to the community.

As a credit card holder of the Dunia Finance Platinum Credit Card, you will get 50% cashback that means up to AED 70 on your per-month movie tickets. Moreover, you’ll get various other benefits like Dining Privileges with which you can access to a lot of Buy 1 Get 1 offers from that of MasterCard while you’re in Middle East as well as Africa in your entertainment, leisure time, or etc. Moreover, you can also experience up to 15% off on the next rental while you’ll be booking with Avis.

Owners of Dunia Finance Platinum Credit Card will also receive 5% cashback on groceries or supermarkets that means up to AED 300 per month for the initial three months. Moreover, 2% unlimited cashback is also there on all other expenditures without any limit. There’s no minimum expenditure needed to receive cashback. Besides, up to four free supplementary cards are there for the credit cardholders’ family members. Moreover, you’ll also receive dining discounts as well as travel shopping discounts.

There is up to 30% of savings on the credit cardholders’ traveling with Cleartrip. You’ll also get various other services. To know about all terms and conditions, you need to contact them.

3. Citi Bank Rewards Card (Repeated)

You’ll be glad to know that the Citi Bank Rewards Card offers four “buy one, get one” complimentary movie tickets while it comes to watching movies at VOX cinemas on any of the days of a week.

The Citi Bank Rewards Card holders also receive dining benefits, as it’s associated with the 500+ dining outlets throughout the UAE to offer Fine Dining program.  Moreover, with the Citi Bank Rewards Card, you’ll also get exclusive offer on different aspects, Free Citibank alerting, and many other facilities.

4. CBD NOW Visa Signature Card

Commercial Bank of Dubai or CBD had started its journey in 1969. Being considered among the topmost banks of the UAE, CBD has come with a lot of different retail and commercial products as well as services. With the passage of time, the Commercial Bank of Dubai has made transformations towards a great improvement and to become a contemporary banking organization. However, CBD features a solid financial base along with powerful management.

You’ll get various benefits after becoming an owner of the CBD NOW Visa Signature Card. When it comes to entertainment-related benefits, the CBD NOW Visa Signature Cardholders can receive 50% discount on total four VOX tickets per month throughout the UAE. Nonetheless, the particular card also provides a lot of discounts on various golf clubs throughout the Middle-East and North Africa or MENA region.

As you already know the CBD VISA Signature card provides the facility of 50% discount to the users on the VOX cinema tickets throughout the United Arab Emirates or UAE. While it comes to availing Valtrans as well as VOX facility, you (as a customer) ought to have a monthly retail expenditure of the minimum of AED 5,000 on the VISA signature card. But, if the expenditure on the CBD VISA Signature credit card becomes less than AED 5,000 in times of the month, your card account would be charged at the actual rate of VOX and Valtrans.

With the CBD NOW Visa Signature Card, you’d get the facility of free valet parking for only Valtrans two times a month at Dubai International Airport, City Walk, Mirdif City Centre, and different other locations.

The VISA Signature credit card from the Commercial Bank of Dubai also provides the facility of multi-trip travel insurance for the card members along with their family. These card members also enjoy eight maximum complimentary visits within the calendar year at 1,000+ airport lounges throughout the world and it’s valid for card members only. You should properly read each and every aspect of the facilities of the VISA Signature credit card to avail it correctly.

Moreover, the cardholders also receive an appreciative meet and greet service at the YQ. Moreover, they can also take a discount benefit of up to 30% on the retail prices at 450+ destinations throughout the world by booking with the respective card.

5. Citi Bank Prestige Credit Card

After becoming an owner of the Citi Bank Prestige Credit Card, you can avail at the maximum of four ‘buy-one, get-one’ appreciative movie tickets with VOX cinemas per month on any of the days of a week with the respective Citi Credit Card.

In order to book your tickets, you need to visit www.voxcinemas.com or download and then open the specific mobile application.

It’s time for logging in as a VOX member. But, in case you haven’t already registered as a VOX member, you can do the same for absolutely free.

Registration completed? It’s time to log in with your username as well as password. Now, you need to choose your cinema, movie and show time. Then, choose the Citi “buy 1, get 1” offer and don’t forget to validate your card. And then it’s time for selecting the seats and paying by making use of the Citi Credit Card. Don’t forget that it’s an upfront offer- not cash back. And the expense of the free ticket shouldn’t be a segment of the payment amount

6. Citi Bank Premier Credit Card

Once you become a member of the Citi Bank Premier Credit Card, you can experience up to four ‘buy-one, get-one’ appreciative movie tickets with VOX cinemas per month on any day in a week through your Citi Credit Card.

7. Standard Chartered Visa Infinite Card

If you’re a movie buff (repetition movie buff word), then you’d be glad to know that the Standard Chartered Visa Infinite Card provides the cardholders with “Buy 1 Get 1 Free” facility at VOX Cinemas along with 50% off at VOX Cinemas only on Saturdays.

Moreover, the card members will also get Standard Chartered Privileges that offer maximum 50% off at various restaurants and cafes. Nonetheless, golf benefits are also there so that cardholders can experience a round of golf per month at UAE’s leading clubs.

8. CBD Visa Infinite Card

After becoming a member of the CBD Credit Card, you’ll experience 50% off on the tickets while you make use of the CBD Credit Card. But, it’s necessary to check your card type before availing the benefits.

While it comes to the members of the Visa Infinite and Visa Infinite Islamic card, the discount is of 50% on 2D and 3D tickets for Standard as well as MAX. It won’t include balcony seats as well as Premium View at MAX 1 screen at the City Centre Deira.

Are you a Visa Signature card holder? You’d receive 50% off on 2D tickets for MAX as well as Standard. As previous, it also excludes Balcony seats as well as Premium View at MAX 1 screen at only City Centre Deira.

The members of the CBD Visa Infinite Private Banking Metal Card can avail 50% off on GOLD, 4DX, THEATRE, and IMAX Sapphire by Rhodes tickets. 

9. CBD Visa Platinum

After becoming a member of the CBD Visa Platinum, you can avail the discount at VOX Cinemas, UAE. Just buy your movie tickets only by visiting the website and then select the VISA offer to avail 50% discount, but it will be applicable on Sunday shows up to 4 tickets per bookings and 10 tickets each month. You can avail this exciting offer till 30 September 2019. You’ll also get various other benefits with the CBD Visa Platinum.


So, if you’re a movie buff, then it’s the high time to become a member of cinema credit cards. And that’s how great entertainment and big savings are ensured. You could avail various other exciting benefits as well. But, it’s very important to check all the terms and conditions before thinking about availing any offer through your credit card.

Russia set to register world’s first COVID-19 vaccine | Compare4Benefit

Russia covid vaccine

Russia’s Covid -19 vaccine to be foreseen as ‘the bright end of a tunnel’

Amidst this panicogenic situation of increasing corona virus cases, Russia has come up avowedly with Russia’s first Covid-19 vaccine. The vaccine jointly developed by the Gamaleya Research Institute and the Russian Defense Ministry is currently expected to be registered on August 12.

After completion of the third stage trial of  the vaccine, hopefully it would be available to the general public by mid september.

The trials have reportedly turned positive for the corona positive people and are said to have developed immunity against the contagious virus.

Taking into concern the severity of the present situation, the World Health Organization (WHO) has emphasized that before launching any covid -19 vaccine it should get through all the stages of trial.

To quote, the WHO spokesman Christian Lindmeier “Any vaccine for this purpose should be, of course, going through all the various trials and tests before being licensed for roll-out,”

Generally the vaccine trials follow a four phase trial system.

Phase One Trials – Introduction of the drug into the human population.

Phase Two Trials – Monitoring more diverse set of healthy volunteers based on the immunogenic results from the phase one trial.

Phase Three Trials – Continue to monitor a larger scale so that the vaccine is proved to be safe and effective in natural disease conditions before being submitted for approval and then general production.

Phase Four Trials – Typically monitor to collect information continuously on vaccine usage, adverse effects, and long-term immunity.

Other vaccines proceeded to the final stage trials are the Pfizer-BioNTech’s formulated mRNA vaccine which is said to have approbative result on pre-clinical trials; then UK-based Oxford University in partnership with pharma maker AstraZeneca and Novavax Inc are bellying up with the covid -19 vaccines.

This Positive news is now gladdening the people a bit by alleviating the fear of the disease.