National Bank of Fujairah Islamic Mortgage

Owning your own home is more than an investment: it can secure your family's future. NBF Islamic Home Finance is a flexible solution to help you to become a property owner.

Based on the principle of Ijara, NBF Islamic Home Finance brings you competitive profit rates, simple documentation and quick approvals and your NBF Relationship Manager will guide you throughout your application.

Major Advantage: High finance amount, Fixed rate options also available

Reducing Balance Rate   

For Salaried:

*Note: Rates mentioned above are starting rate and it can vary with the profile of the client.

*All info mentioned can change at any point of time as per the discretion of the bank. The Bank will determine eligibility. All info above is subject to change

Profit Rates & Charges:

Reducing Rate (as advertised): Starting from 4.74% p.a.

Flat Rate: 2.83% p.a. (as per 25 years calculation)

Processing Fees: 0.525% of the finance amount

Property valuation Fees: AED 2,625

Early Settlement Fees: 1% of outstanding loan amount or AED 10k (whichever is lower)

Partial Settlement Fees: 1% of outstanding loan amount or AED 10k (whichever is lower)

Finance Requirements:

Minimum Income Requirement:

• For salaried client: AED 15,000
• Expat self-employed client: AED 30,000
• UAE National self-employed client: AED 25,000

Minimum Length of Service Required: 6 Months for salaried; 2 Years for self-employed

Salary Transfer: Not compulsory

Minimum Down payment:

• For first property (If property price < AED 5M): 20% 
• For first property (If property price > AED 5M): 30%
• For second property: 40% 

Key Details:

Maximum Finance Amount: AED 20,000,000

Islamic Finance: Yes

Maximum Term: 25 years

Finance available for: All ready properties with title deed in Dubai, Abu Dhabi

Insurance (Compulsory):

Life Insurance: 0.02358% p.a. on outstanding balance

Property Insurance:  0.040% p.a. (on property value)

Common Documents:

• Valid Passport, Resident Visa and Emirates ID Copy.
• Offer Letter Copies of All Personal Ongoing Finance.
• Rental Income Document (If any).                      
• Liability Letter (In case of Buyout Finance only).
• Relevant property Documents.

Salaried Client Documents:

• Latest Salary Certificate addressed to National Bank of Fujairah.
• Latest 6 Months Personal Bank Statement.
• Six months Pay slips if there is variance in Salary.

Self-Employed Client Documents:

• Valid Company Trade license.
• MOA (Memorandum of Association) including all amendments.
• Latest 6 Months Personal Bank Statement.
• Latest 6 Months Company Bank Statement.
• Offer Letter Copies of All Company Ongoing Finance.

• All info mentioned can change at any point of 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.