| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Dubai Islamic Bank - Al Islami Home Finance Balance Transfer / Buyout
|
Minimum Salary: AED 10,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: 3.24 |
Transfer your outstanding home finance balance from other banks to DIB!
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.
Features
- Attractive profit rate
- Get up to AED 50 million in home finance
- Minimum salary requirement for UAE nationals is AED 10,000 per month
- Minimum salary requirement for UAE expats is AED 12,000 per month
- Down payment requirement for UAE nationals is 20%
- Down payment requirement for UAE expats is 25%
** 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
