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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:
Rate Card |
||
Fixed Period |
Fixed Rate |
Follow-on Rate (post the Fixed Rate period) |
1 Year | 2.74% | 1.75% Margin + 3 Months Eibor |
2 Years | 2.74% | 1.75% Margin + 3 Months Eibor |
3 Years | 2.74% | 1.75% Margin + 3 Months Eibor |
4 Years | 3.24% | 1.75% Margin + 3 Months Eibor |
5 Years | 3.24% | 1.75% Margin + 3 Months Eibor |
Note: Minimum floor rate of 3.24% shall apply post fixed rate period
Profit Rate & Charges:
Profit Rate: Starting from 2.74% p.a. (reducing rate).
Processing Fees: Nil for First Time Buyers and Buyout Cases (Otherwise 1%)
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)
Finance Requirements:
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)
Key Details:
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). Financing for under-construction properties in UAE is also offered for Government Housing Scheme – Mohammed Bin Rashid Establishment
Takaful - Insurance (Compulsory):
Life Takaful: 0.36% per annum (on outstanding balance)
Property Takaful: 0.03% per annum of property value
Common Documents:
Salaried Client Documents:
Self-Employed Client Documents:
Minimum Salary: 15,000 AED
Reducing Rate 5.675%
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