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Product of the Month
Dubai Islamic Bank - Al Islami Home Finance for UAE Nationals
Flat Rate
Reducing Rate
AED 7,000
Minimum Salary
Salary Transfer

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Provider Minimum Salary Flat Rate Reducing Rate Down Payment
Emirates Islamic - Manzili Home Finance Emirates Islamic - Manzili Home Finance Minimum Salary: AED 15,000 Flat Rate: - Reducing Rate: 3.49% Down Payment: 25% Compare
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Got a question?
This relates to what the bank will charge you at the beginning of the loan and is normally added to your principal loan amount. Some banks may offer home loan products with no arrangement fee but others may charge a fixed fee or a percentage of your total loan amount.
Not necessarily but doing so will often get you a better rate as you are then considered less risky to the institution.
Rates on home loans can be calculated in two ways - as a reducing rate or as a flat rate. With a flat rate, the rate is calculated on the entire principal amount of a loan (the full, original amount borrowed) whereas with a reducing interest rate, interest is charged only on the outstanding amount of the loan on a periodic basis. Flat interest rates are normally lower than the reducing balance rate and therefore considered misleading. When it comes to comparing loans, the best way to compare their true cost is to convert everything into the Reducing Interest Rate equivalent (click here for more information)
Your residency and employment status will determine the exact documents you will require to submit on application. Your chosen loan provider will provide you with all details.
You are free to sell your property as and when you choose. You’ll just need to repay the full outstanding balance of your home loan at the time of sale.
This relates to the fee applicable if you decide to pay off your loan early. If, for example, you take a home loan for 25 years but expect to be in a position to pay if off before then, any early settlement fee becomes an important factor in choosing your home loan provider.
Compare, compare, compare! Use our smart comparison tools to choose the best home loan for you. You may also wish to consider using a mortgage advisor such as Best Rate, who will do the hard work for you, recommend the best product for your needs and help you through the entire process from consultation to completion.
Yes. In the UAE, it is a requirement to pay a down payment or deposit. The amount required will depend on whether you are a UAE national, resident expat or non-resident as well as your employment status and whether you are a first time buyer.
  • Fixed Rate v Variable Rate – a fixed rate provides more stability and is best if you expect interest rates to go up whereas with a variable rate, you can benefit when the interest rate goes down
  • Loan amount – this will depend on a number of criteria including your financial situation, deposit amount and the price of the property you wish to purchase
  • Down payment – consider what the required down payment / deposit will be in order to help you set a budget
  • Interest rates – do flat or reducing interest rates apply? See below for details of how these differ
  • Tenure – this is the length of time you have to pay back your loan and will vary depending on the bank and / or loan product
  • Minimum salary requirement – UAE banks normally impose a minimum salary required to take out a home loan so select a provider from those whose minimum salary requirement is less or the same as your salary
  • Fees – consider all fees applicable such as arrangement fees and early settlement fees
  • Other benefits – does the bank provide options for a payment holiday
Yes. Depending on your individual situation, different documents are required. Your chosen provider will provide you with details.