CBD Ijarah Home Lease for Expats

CBD Ijarah Home Finance rate for expats starts from 4.75%

The perfect combination of a great rate, easy buyouts and flexibility to owning your dream home.

Major Advantage: Available for both salaried and self-employed, Low minimum salary requirement

Points to Consider: There is a down payment requirement 

Reducing Balance Rate - Fresh Purchase / Buyout

Profit Rates & Charges:

Reducing Rate (as advertised): 4.75% p.a. (fixed for 3 year)

Flat Rate: 2.84% p.a. (calculated as per 25 years tenure)

Processing Fees: 0.7875% of the finance amount, Nil for buyout

Property valuation Fees: AED 3,150 (50% waiver on disbursement)

Early Settlement Fees: 1% of Outstanding Loan or AED10,000 (whichever is lower)

Partial Settlement Fees: Flexibility to repay up to 15% of your outstanding balance per annum without penalties

Finance Requirements:

Minimum Income Requirement:

• For salaried AED 12,000
• For self-employed AED 20,000

Minimum Length of Service Required: 6 months for salaried; 3 years for self-employed

Salary Transfer: Not Compulsory, but there is an interest rate discount if you transfer your salary

Minimum Down payment:

• For first property (If property price < AED 5M): 20% for Expats
• For first property (If property price > AED 5M): 35% for Expats
• For second property: 40% for Expats

Key Details:

Maximum Finance Amount: AED 20,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: All Ready Villas or apartments registerable with Lands department and for approved off plan properties

Takaful (Compulsory):

Life Insurance: 0.01167% of the finance amount per month

Property Insurance: 0.04% per annum

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).
• Relevant property Documents.

Salaried Client Documents:

• Latest Salary Certificate addressed to CBD 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 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.

• 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.