Dubai Islamic Bank Mortgage Buyout

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

Reducing Balance Rate 

Profit Rate & Charges:

Profit Rate: Starting from 4.99% p.a. fixed for 1 year (reducing rate)

Flat Rate: 3.01% p.a

Processing Fees: 0% for buyout Cases

Early Settlement Fees: 1% of outstanding amount (Max cap AED 10,000)

Finance Requirements:

Minimum Salary Requirement: AED 10,000 for UAE Nationals, AED 12,000 for Expats

Minimum Length of Service Required: 6 months for salaried

Salary Transfer: Not compulsory.   

Minimum Downpayment: 20% (Fee Financing also possible)

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). 

Takaful - Insurance (Compulsory):

Life Takaful: 0.36% per annum (on outstanding balance)

Property Takaful: 0.03% per annum of property value

Common Documents:  

• Valid Passport, Resident Visa and Emirates ID Copy.
• Offer Letter Copies of All Personal Ongoing Finance.
• Khulasat Al Qaid
• Rental Income Document (If any).                      
• Property Documents (If Property is Finalized or Equity Release).
• Liability Letter (In case of Buyout Finance only).
• Relevant property papers.

Salaried Client Documents:

• Latest Salary Certificate addressed to Dubai Islamic 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 Trade Company 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 (For Self Employed).

• All info mentioned can change at any point in 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.