| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Al Masraf Home Loan
|
Minimum Salary: AED 15,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 0 Years | Flat Rate: 4.1 | Reducing Rate: 0.0 |
The Al Masraf Home Loan is a long-term financing solution granted to customers (UAE Nationals and Expatriates) for the purchase or refinancing of residential property. The maximum loan amount is AED 30 Million, with financing available for up to 80% of the property value for UAE Nationals and 75% for Expatriates. The loan is intended for the acquisition of completed or off-plan villas and apartments across the UAE and is repaid through monthly installments over a flexible tenure of up to 25 years.
Key Benefits:
- Applicable for UAE Nationals and Expatriates.
- Hybrid Rate option with Rate starting from 4.1% fixed for 3 years, followed by 3M Eibor +1.99% margin.
- High Loan amounts up to AED 30M with tenure up to 25 years.
- Available for Salary and Non-Salary transfer customers
- Conventional and Islamic options available.
- Finance for Properties across Emirates.
- Finance for Properties across all Emirates (Completed and Off-plan).
- Finance for Fresh, top up and buyout of existing mortgages
- Up to 2 EMI deferrals per year.
- Free for Life Credit Card available*
Eligiblity & Requirements:
- A minimum salary of AED 15,000
- Age: 21 to 65 years (Nationals) / 21 to 60 years (Expats) at maturity.
- Min 6 months / Confirmation (minimum 3 salaried credited)
- Financing available for salaried, self-employed
Rates & Terms:
- Loan to Value (LTV): Up to 80% for UAE Nationals and 75% for Expats (for first property).
- Fixed Rates: Starting from 4.1% to 5.5% for the first 1, 2, or 3 years
- Variable Margin: Starting from 1.99% over 3-Month EIBOR
Documents Required:
- Valid Passport/Residence Visa/Emirates ID
- Min 6 months / Confirmation (minimum 3 salaried credited)
- Financing available for salaried, self-employed.
- Property Documents (Title Deed, MOU, or SPA)
- Liability Letter (for Buyout/Refinance cases)
Terms and Conditions:
- Loans are issued at the sole discretion of Al Masraf and are subject to terms and conditions.
- The Bank may amend the features, fees, charges, terms and conditions of the Loan, prior to which, you will be given 60 days notice.
- The Bank may amend the interest rates for the Loan, prior to which, you will be given 30 days notice.
- Make sure you’re settling your loan instalments on time to avoid being charged with Late Payment Fees.
*Monthly installments are calculated based on a representative loan amount of AED 100,000.
** Calculator Definitions
Amount:
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Rate (%):
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Years:
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Effective Monthly Payment:
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Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
