Ajman Bank Home Finance

With Ajman Bank Home Loans you're One Step Closer to finding the perfect home for a lifetime of joy and happiness

Major Advantage: Zero Processing Fee, Zero Valuation Fee, Waiver of property insurance and life insurance for the fisrt year

Reducing Balance Rate

Feature/Benefits:

• Waiver on the processing fee.
• The customer may avail this offering for a maximum of 3 properties.
• Scanned copies of documents are accepted till offer letter issuance.

Profit Rates & Charges:

Reducing Rate (as advertised): Starting from 4.79% p.a.

Flat Rate: 2.87% p.a. (As per 25 years tenure)

Pre approval Fees: AED 3,150

Processing Fees: Waived

Property valuation Fees: AED 2,625

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

Partial Settlement Fees: 1% of the partial settlement amount

Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months for salaried

Salary Transfer: Compulsory

Minimum Down payment:

• For first property (If property price < AED 5M): 20% 
• For first property (If property price > AED 5M): 30%

Key Details:

Maximum Finance Amount: AED 15,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: All Ready properties with Title Deed.

Takaful - Insurance (Compulsory):

Life Insurance: 0.03% per month (on finance amount)

Property Insurance:  0.0378% p.a. (on property value)

Common Documents:

• Duly completed and signed application form.
• Valid Passport, Resident Visa and Emirates ID Copy.
• Khulasat al Khaid Copy (For UAE Nationals).
• Offer Letter Copies of All Personal Ongoing Finance.
• Liability Letter (In case of Buyout Finance only).
• Relevant property Documents (Not required for preapproval).

Salaried Client Documents:

• Latest Salary Certificate addressed to Ajman Bank.
• Latest 6 Months Personal Bank Statement.

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).

• 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.
• Terms and conditions apply.