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)
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). 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