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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
For Salaried | |||
Expat Mortgage Finance | Rate applicable for Fixed Year | After Fixed year period (if Finance >50%) | After Fixed year period (if Finance <=50%) |
1 Year Fixed Rate | 5.50% p.a. | 1.79% + 3 Months EIBOR (Minimum Rate 1.79%) | 1.69% + 3 Months EIBOR (Minimum Rate 1.69%) |
3 Year Fixed Rate | 4.75% p.a. | 1.79% + 3 Months EIBOR (Minimum Rate 1.79%) | 1.69% + 3 Months EIBOR (Minimum Rate 1.69%) |
For Self Employed | |||
Expat Mortgage Finance | Rate applicable for Fixed Year | After Fixed year period (if Finance >50%) | After Fixed year period (if Finance <=50%) |
1 Year Fixed Rate | 5.90% p.a. | 1.99% + 3 Months EIBOR (Minimum 1.99%) | 1.79% + 3 Months EIBOR (Minimum Rate 1.79%) |
3 Year Fixed Rate | 5.23% p.a. | 1.99% + 3 Months EIBOR (Minimum 1.99%) | 1.79% + 3 Months EIBOR (Minimum Rate 1.79%) |
Variable Rates | |
Expat Mortgage Finance | Rate applicable for Fixed Year |
Salaried | 1.39% + 3 Months EIBOR |
Self Employed | 1.99% + 3 Months EIBOR |
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:
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:
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:
Salaried Client Documents:
Self-Employed Client Documents:
Minimum Salary: 10,000 AED
Reducing Rate 4.99%
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