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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Emirates Islamic - Bina'a Home Finance For UAE Nationals Emirates Islamic - Bina'a Home Finance For UAE Nationals Minimum Salary: AED 8,000 Salary Transfer: No Early Settlement Fees: Yes Maximum Term: 25 Years Flat Rate: 2.2% Reducing Rate: 3.99%
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Bina'a Home Finance has been specially designed to suit the needs of UAE nationals like you. Based on the principles of Shari'a, Bina'a offers three customised solutions that have been tailored to meet your specific financial and personal requirements. Each of these solutions offers you a combination of competitive rates, long tenures coupled with quick and efficient processing. You can choose from the following solutions: 

Bina'a HomeConstruct:

Giving you the flexibility to build your home the way you always wanted it to be. Using the Islamic principle of Forward Ijarah, the bank finances the construction of the property. Once completed, Emirates Islamic leases the property back to you under the agreed repayment plan. 

Benefits:

  • Financing of up to 80% of the current market value of your selected property
  • High finance amounts
  • Quick approval process and fast turnaround
  • Attractive and highly competitive profit rates
  • Longer repayment tenures of up to 25 years
  • Convenient monthly repayments on a variable-rate basis as applicable
  • Takaful coverage to protect your family in the event of an unforeseen event leading to injury or loss of life
  • Minimal documentation and low processing rates
  • Engineering and project monitoring services available at no additional cost for under construction properties

Bina'a HomeLease:

Select a completed property that you are interested in buying and we will finance it for you. Using the Islamic principle of Ijarah, the bank purchases the property you want and then leases it back to you at a flexible rental/installment. At the end of the lease tenure, the property is handed back to you at a nominal price. HomeLease also offers you the option to buy out your existing mortgage with another financial institution at highly competitive profit rates and longer lease tenures. 

Benefits:

  • Financing of up to 80% of the current market value of your selected property
  • High finance amounts
  • Quick approval process and fast turnaround
  • Attractive and highly competitive profit rates
  • Longer repayment tenures of up to 25 years
  • Convenient monthly repayments on a variable rate basis as applicable
  • Takaful coverage to protect your family in the event of an unforeseen event leading to injury or loss of life
  • Minimal documentation and low processing rates

Bina'a HomeInvest:

Let the investment in your home give you greater financial flexibility. Utilising the Islamic principles of Musharakah and Ijarah, the bank purchases a "common share" in your property and leases it back to you. You can use this inflow of cash to invest, plan a vacation, and plan for your children's education and more. Flexible monthly rentals help you manage your finances during the lease period, at the end of which, the bank sells the "common share" of the property back to you at a nominal price. 

Benefits:

  • Financing of up to 80% of the current market value of your selected property
  • High finance amounts
  • Quick approval process and fast turnaround
  • Attractive and highly competitive profit rates
  • Longer repayment tenures of up to 25 years
  • Convenient monthly repayments on a variable rate basis as applicable
  • Takaful coverage to protect your family in the event of an unforeseen event leading to injury or loss of life
  • Minimal documentation and low processing rates
** 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
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