Dubai Islamic Bank Resale Financing

This finance is for secondary market transactions with DIB.

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: Down-payment required 

Reducing Balance Rate (based on the Central Bank's 6-month EIBOR rate plus a bank margin)

Major Features:

This finance is for secondary market (Resale) transactions with DIB

Profit Rate & Charges:

Profit Rate: Starting from 3.74% p.a. (reducing rate)

Processing Fees: 1% for Ijarah transactions (Nil for balance transfer)

Early Settlement Fees: Max 3% + VAT of the outstanding amount within 1st Two years, Max 2% + VAT of the outstanding amount from 2 to 5 years, Max 1% + VAT of the outstanding amount after 5 years   

Partial Settlement Fees: Up to 20% of outstanding amount with a fee of 0.5% + Vat, above that Early settlement rates will be applicable

Finance Requirements:

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

Minimum Length of Service Required: 6 Months for salaried

Salary Transfer: Not compulsory.   

Minimum Down-payment: 20% for UAE Nationals, 25% for Expats

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):

Group Takaful: 0.03% per month (on outstanding balance)

Common Documents:

• Valid Passport, Resident Visa and Emirates ID Copy. 
• Offer Letter Copies of All Personal Ongoing Finance.
• Khulasat Al Qaid (For UAE Nationals)
• 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.
• This rate is variable, based on the Central Bank's EIBOR rate plus a bank margin.
• Terms and conditions apply.