Dubai Islamic Bank understands that one of the greatest joys is to own or build your dream home. Al Islami Home Finance offers you a range of options to suit your specific needs. DIB offer financing for residential and commercial properties. It also offers refinancing options for customers who may already own a property or are availing of a mortgage with another institution.
Major Advantage: High Finance Amount
Points to Consider: Processing Fee Waiver only for First Time Buyers
Reducing Balance Rate:
Follow-on Rate (post the Fixed Rate period)
|1 Year||4.99%||1.75% Margin + 3 Months Eibor (Minimum floor rate of 4.99%)|
|3 Years||4.89%||1.75% Margin + 3 Months Eibor (Minimum floor rate of 1.75%)|
|5 Years||5.49%||1.75% Margin + 3 Months Eibor (Minimum floor rate of 5.49%)|
Profit Rate & Charges:
Profit Rate: Starting from 4.89% p.a. (reducing rate).
Processing Fees: 0.525% of the finance amount (Nil for first time buyers if choosing 1 year fixed rate)
Valuation Fees: AED 2500
Early Settlement Fees: 1% of outstanding Loan or AED10,000 (whichever is lower)
Partial Settlement Fees: 1% of outstanding Loan or AED10,000 (whichever is lower)
Minimum Salary Requirement: AED 10,000
Minimum Length of Service Required: 6 Months for salaried
Salary Transfer: Not Compulsory.
Minimum Down-payment: 20% (Fee Financing also available)
Maximum Finance Amount: AED 50,000,000
Islamic Finance: Yes
Maximum Term: 25 Years
Finance Available For: Any ready property which can be registered in the name of the customer in the relevant authority (across UAE).
Takaful - Insurance (Compulsory):
Life Takaful: 0.36% per annum (on outstanding balance)
Property Takaful: 0.03% per annum of property value
Salaried Client Documents:
Self-Employed Client Documents: