| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Amlak Tatweer
|
Minimum Salary: AED 10,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: 5.75% |
*Reducing Rate is the rate at which the variable rental is calculated under the Ijarah.
Features
- Flexible, up to 50% financing for all off-plan properties across the UAE
- Fixed variable rental rate (finance rate) during construction period, and competitively low variable rates post-completion
- Complimentary provision of property management services, including handover assistance, advertising, renting of unit, tenant management, servicing of installments through rent, a preventive property maintenance package, and much more post handover.
- Finance payment assistance with a 3-month initial installment holiday and a ‘variable rental only’ payment option for the first 4 years
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest flat rate on the product. This is not the 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
