Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Dubai Islamic Bank - Al Islami Home Finance for UAE Nationals Dubai Islamic Bank - Al Islami Home Finance for UAE Nationals Minimum Salary: AED 7,000 Salary Transfer: No Early Settlement Fees: Yes Maximum Term: 25 Years Flat Rate: 1.79 Reducing Rate: 3.24
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At Dubai Islamic Bank, we understand that one of the greatest joys is to own or build your dream home. Al Islami Home Finance offers you a range of options to suit your specific needs. We offer financing for residential and commercial properties. We also offer refinancing options for customers who may already own a property or are availing of a mortgage with another institution.

Our unique Advance Eligibility Process service is designed especially if you have not yet selected your property and are unaware of your financial eligibility. It gives you the advantage of starting your search for a property with a confirmed and approved finance facility in hand.

Expats can get home finance using any of the following products:
  • Forward Ijara MBRHE, Forward Ijara Non-Freehold and Off-Plan Financing (for under-construction and off-plan properties) 
  • Murabaha
  • Standard Ijara (for completed properties)
  • Buyout Ijara
  • Equity release
  • Commercial Ijara
  • This finance is sharia-compliant
  • The minimum down payment is 25% of the property value
  • Finance repayment period of up to 25 years
  • You require a minimum salary of AED 7,000 per month to be eligible
  • It is not a requirement to transfer your salary to apply
  • The processing fee is 1% of finance amount for Ijarah transactions, and there is no fee on balance transfer
  • The early settlement fee is 1% of the outstanding finance amount, with a cap at AED 10,000
  • Group takaful rates offered upto 0.03% per month
  • The profit rate starts at 3.24% variable. Profit rate from 3.49% p.a. for Standard Ijara cases. Profit rate from 3.24% p.a. for pure Buyout Cases
  • This rate is variable, based on the Central Bank's 6 month EIBOR rate plus a bank margin
  • Fixed rate offering for freehold segment under Murabaha
  • The reducing rate of this finance is 3.24% and the equivalent flat rate is 1.79%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only
  • Any ready property which can be registered in the name of the customer in the relevant authority (across UAE). Financing for under-construction properties in UAE is also offered for Government Housing Scheme – Mohammed Bin Rashed Establishment
Documents Required
  • 6-months bank statement
  • Salary letter (In case of non-salary transfer customer)
  • Valid passport/Khulasat al Khaid Copy/Valid visa
  • Relevant property papers
  • Evaluation from approved evaluators
  • Copy of Trade License (Self-employed)
  • Audited financial statements (Self-employed)
  • Notarised POA (where applicable for self-employed)
  • Memorandum and Articles of Association (Self-employed)
** 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.
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