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A home of your own is the dream closest to your heart. With a promise of prosperity, United Arab Bank offers home loans which are really simple and easy for you.
Major Advantage: Fixed Rate options also available
Points to Consider: High salary requirement
Reducing Balance Rate
Fixed Rate | Starting from 3.69% | |||
Step-up Rate | For 1st Year | For 2nd Year | For 3rd Year | After 2 Years |
For Salary Transfer | 3.69% | 3.99% | 4.29% | 1.5% +RBR |
For Non-Salary Transfer | 3.69% | 3.99% | 4.29% | 2% + RBR |
*RBR stands for Retail Base Rate
Interest Rates & Charges:
Reducing Rate (as advertised): Starting from 2.99% (Check rate card for fixed and step up rate)
Flat Rate: 1.69% p.a. (As per 25 years calculation)
Processing Fees: 0.5% (STL) / 0.7% (NSTL) (Nil on buy out transaction)
Preapproval Fees: Nil
Property valuation Fees: AED 3,000 (for salary transfer clients)
Early Settlement Fees: 1% of outstanding amount (Max cap AED 10,000)
Partial Settlement Fees: Up to 20% of the loan outstanding without any charge (once a year)
Finance Requirements:
Minimum Salary Requirement:
Minimum Length of Service Required: 6 Months for salaried; 2 Years for Self Employed
Salary Transfer: Not Compulsory
Minimum Downpayment:
Key Details:
Maximum Finance Amount: AED 10,000,000
Islamic Finance: Both Conventional and Islamic options available
Maximum Term: 25 Years
Finance available for: All ready properties with title deed in Emirates
Insurance (Compulsory):
Life Insurance: 0.4% p.a. on outstanding balance
Property Insurance: 0.06% p.a. (on property value)
Other Benefits:
Common Documents:
Salaried Client Documents:
Self-Employed Client Documents:
Minimum Salary: 10,000 AED
Reducing Rate 4.89%
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