Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Benchmark-Mortgage Benchmark-Mortgage Minimum Salary: AED 20,000 Salary Transfer: No Early Settlement Fees: No Maximum Term: 25 Years Flat Rate: 3.49% Reducing Rate: -
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Salary Information

  • Minimum salary of AED 20K for Expats.
Documents Required

Identification
  • Passport and visa - copies
  • Emirates identification card - front & back copies
Employment Details
  • Salary letter - original to include name, nationality, passport number, start date, designation, basic income, fixed allowances and any variable or guaranteed bonuses. This should be signed by a named representative of the company and stamped with company stamp
  • Latest 6 months’ pay slips - originals or company stamped copies
Bank Documents
  • 6 months’ personal bank statements - originals or bank stamped copies. These must be up to 1 week of submitting the application and show latest 6 salary credits
  •  Latest credit card statement
  • Cheque book for bank pre approval (application) fee, if any
Supporting Documents (Only if needed)
  • Paperwork confirming any liabilities (existing personal, car or mortgage loans) with your bank(s) - copies accepted at application stage. 
  • The bank may request originals at a later date - we will advise you if this is required
  • Details of large or recurring monthly debits from your salary account (e.g. insurance, savings plans and regular transfers to other UAE or overseas accounts)
  • Company website address or profile on letter headed paper, if your employer is not a multinational
  • If your current employment is less than 1 year, a letter or proof from your previous employer detailing length of service will be required
  • Free zone identification card, if working in a free zone
  • Proof of deposit source
  • Passport and visa copies of spouse - if applying jointly
  • Emirates identification card of spouse (front & back copies) - if applying jointly
  • Attested marriage certificate copy (unless husband is sponsoring wife on visa) - if applying jointly
  • If joint income of applicants is being considered for loan eligibility, full documentation for both required
** 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
Commercial Bank of Dubai - Mortgage Loan
Minimum Salary
AED 12,000
Reducing Rate
2.49%
ADCB - Home Saver
Minimum Salary
AED 8,000
Reducing Rate
-