| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Amlak Finance Double Your Property
|
Minimum Salary: AED 10,000 | Salary Transfer: Yes | Early Settlement Fees: No | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: 5.75 |
If you are an existing property owner, Amlak is pleased to offer you a second property! This exclusive offer will provide you with a number of key benefits:
- Amlak will identify the ‘clone’ property for you
- Hassle-free and seamless process
- Complimentary property management services for both the properties
- Payment through rental income
- Entire process facilitated by us, from selection to renting out of the property
Features
- Reducing rate of 3.99%
- Down payment of 0%
- Complimentary property management services
- No salary transfer requirement
- Hassle-free and seamless processes
- The second property can be either a ready or under-construction (off-plan) property
- Second property is identified by Amlak
- Ijarah repayments are covered by rental income
- Three-month payment holiday at the commencement of the finance
- Option to make variable rental only payments for the first four years of the finance
- Complimentary property management and preventive maintenance services for both properties and repayment through rental income
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
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
