United Arab Bank Home Finance for Expats

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 

*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 monthly income for Salaried: AED 20,000
• Minimum monthly income for Self-employed: AED 50,000

Minimum Length of Service Required: 6 Months for salaried; 2 Years for Self Employed

Salary Transfer: Not Compulsory

Minimum Downpayment:

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

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:

• Free preapproved credit card

Common Documents:

• Valid Passport, Resident Visa and Emirates ID Copy.
• Offer Letter Copies of All Personal Ongoing Finance.
• Rental Income Document with cheque copies (If any).              
• Liability Letter (In case of Buyout Finance only).
• Bank statement with 6 months repayment track record (In case of Buyout Finance only).
• Existing credit card details.
• Relevant property Documents.

Salaried Client Documents:

• Latest Salary Certificate addressed to United Arab Bank.
• Latest 6 Months Salary Bank Statement.
• Six months Payslips.
• Salary Certificate / Salary Transfer Letter.

Self-Employed Client Documents:

• Valid CompanyTrade 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 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.