Standard Chartered Home Suite

The Standard Chartered Home Suite Bundle Account has everything you need to own the perfect home. With its additional features the experience of buying your dream home will be even more enriching.

Major Advantage: Low salary requirement, High finance amount

Points to Consider: There is a downpayment requirement

Reducing Balance Rate 

Interest Rates & Charges:

Reducing Rate (as advertised):  Starting from 4.35% fixed for 3 years

Processing Fees: 0.26%

Property valuation Fees: AED 3,000

Early Settlement Fees: 0.525% of outstanding Loan or AED10,000 (whichever is lower) within 5 years, zero fee after 5 years

Partial Settlement Fees: Free for settlement of up to 30% of outstanding per calender year

Finance Requirements:

Minimum Salary Requirement: AED 15,000

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

Salary Transfer: Not Compulsory

Minimum Down payment:

•  
• For first property/self-occupancy (If property price < AED 5M): 20% for UAE national, 25% for Expats
• For first property/self occupancy (If property price > AED 5M): 30% for UAE national, 35% for Expats
• For second property or IPRE/Investment: 35% for UAE national, 40% for Expats
• For Under Construction Properties: 50% of property price

Key Details:

Maximum Finance Amount: AED 18,000,000

Islamic Finance: Yes

Maximum Term: 25 Years

Finance available for: Almost all ready properties in Dubai, Abu Dhabi & Ras Al Khaimah and Under Construction properties to selected developer and segments; Also available for commercial property finance

Insurance:

Life Insurance: No life insurance requirement or independent life insurance assignment option available

Property Insurance:  0.0483% 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). 

Salaried Client Documents:

• Latest Salary Certificate addressed to Standard Chartered Bank.
• Latest 6 Months Salary 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.
• Audit Financials of last 2 years.
• 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, which is an approximate rate.
• Terms and conditions apply*.