|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|CBD Bayty Home Finance||Minimum Salary: AED 20,000||Salary Transfer: No||Early Settlement Fees: No||Maximum Term: 25 Years||Flat Rate: 3.54||Reducing Rate: 3.99|
- salaried individual:
- Application form, consent letter & authorization letter for Bureau check.
- National ID or valid passport, residence visa and Emirates ID.
- Original 3 months bank statement for new customers.
- Salary Certificate.
- Application form, authorization letter for lending and consent letter for Bureau check
- Copy of Trade License, Chamber of Commerce Registration, Memorandum and Articles of Association.
- Original 12 months company and personal bank statements for new customers.
** 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.