Emirates Islamic Manzili Home Finance

  • Minimum Salary AED 15,000
  • Flat Rate
  • Reducing Rate 4.34%
  • Max. Term 25 Years
  • Salary Transfer No
  • Islamic Finance Yes


Manzili Home Finance solutions are designed to make owning your home a reality for expatriates. Available for rates as low as 3.19% per annum, Manzili Home Finance is based on the principles of Shari'a and is designed to suit your financial capabilities and personal requirements. Choose from a wide variety of ready properties and select off plan properties with a transparent pricing structure linked to the 3 month EIBOR.

Major Advantage:  Low rates

Points to Consider: High salary requirement 

Rate Card

Reducing Balance Rate

EI MANZILI HF Variable Rate linked to 3 Month EIBOR
Profit Rate Starting from 3 Month EIBOR+ 1.75% p.a.


This rate is variable, based on the Central Bank's 3-month EIBOR rate plus a bank margin.


Major Benefit:

  • 2 months Installment deferment
  • Pre-approved credit card  


Profit Rates & Charges:

Reducing Rate (as advertised): Approx. 4.34% p.a.(3 Month Eibor + 1.75%)

Flat Rate: 2.56% p.a. (as per 25 years calculation)

Processing Fees: 1% of the finance amount (Nil for balance transfer)

Property Valuation Fees: AED 3,000

Early Settlement Fees: 1% of outstanding amount

Partial Settlement Fees: 1% of the amount partially paid


Finance Requirements:

Minimum Salary Requirement: AED 15,000

Minimum Length of Service Required: 6 Months for salaried

Salary Transfer: Not Compulsory

Minimum Downpayment:

  • For first property (If property price < AED 5M): 20% for UAE national, 25% for Expats
  • For first property (If property price > AED 5M): 30% for UAE national, 35% for Expats
  • For second property: 35% for UAE national, 40% for Expats


Key Details:

Maximum Finance Amount: AED 20,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: All approved properties with titled deed (ready property)


Takaful (Compulsory):

Life Takaful: 0.35% p.a. on outstanding balance

Property Takaful:  0.05% p.a. of the property value

Documents Required

Common Documents:

  • Valid Passport, Resident Visa and Emirates ID.   
  • Offer Letter Copies of All Personal Ongoing Finance.
  • Rental Income Document (If any).                      
  • Liability Letter (In case of Buyout Finance only).
  • Originals of property details including the:
  • Quote/Offer Letter from the seller.
  • Sale and Purchase agreement.
  • Title Deed and Site Plan.
  • Receipts of down payment made to the seller.


Salaried Common Documents:

  • Latest Salary Certificate addressed to Emirates Islamic Bank.
  • Latest 6 Months Personal Bank Statement.
  • Three months Pay slips if there is variance in Salary.


Resident Salaried Client Documents:

  • Salary Transfer Letter if transferring salary to Emirates Islamic.
  • Copy of Labor contract.


Non-Resident Salaried Client Documents: 

  • Reference letter from your current bank.
  • Credit bureau report (if applicable).


Self-Employed Common Documents:

  • Valid Company Trade license.
  • MOA (Memorandum of Association) including all amendments.
  • Copy of Chamber of Commerce Registration.
  • Copy of Partnership Page in case of multiple partners.
  • Copy of Labor Contract.
  • Latest 6 Months Personal Bank Statement.
  • Latest 12 Months Company Bank Statement.
  • Audit Financials of last 2 years.
  • Offer Letter Copies of All Company Ongoing Finance.


Extra Documents for Non-Resident Self-Employed Client:

  • Latest tax returns of last 2 years.
  • Credit bureau report (if applicable).
  • Offer Letter Copies of All Company Ongoing Finance.

Additional Info

  • 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. 

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Jessica Anderson, Finance Specialist is ready to help you!