| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
FAB - Islamic Home Finance For UAE Residents
|
Minimum Salary: AED 15,000 | Salary Transfer: Yes | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: 3.94 | Reducing Rate: - |
Own your own home with FAB Islamic’s range of home finance options and fixed profit rates starting from 3.94% per year.
Enjoy a range of great profit rates on FAB Islamic Home Finance with fixed and variable profit rate options, low down payments, high finance amounts and low fees. Our home finance advisers will be with you every step of the way to advise on the best home finance for you, and you’ll get great benefits including your choice of a FAB Islamic credit card.
Enjoy our fixed profit rates for up to five years if you have an existing FAB/FAB Islamic credit card or if you apply for an Islamic Credit card:
| Fixed profit rate period | With a salary transfer to a FAB Islamic savings account and a credit card* | Without a salary transfer to a FAB Islamic savings account** |
| One year | 3.94% | 4.59% |
| Two years | 3.94% | 4.59% |
| Three years | 4.09% | 4.59% |
| Five years | 4.19% | 4.59% |
Other great benefits include:
- More flexibility with our variable profit rates: One-year variable profit rate from 0.55% per year + 3 months EIBOR for the first year and 1.5% per year + 3 months EIBOR from the second year onwards
- Up to 85% financing for first-time buyers
- No approval-in-principle fee
- Up to AED 10,000 in FAB Islamic Rewards when you transfer your salary to a FAB Islamic Savings Account and obtain FAB Islamic Credit Cards (1 AED = 250 FAB Islamic Rewards)
- Exclusive deals on processing fees and discounted valuation fees on properties with major developers
Own your dream home today with FAB Islamic Home Finance.
T&C
*The subsequent profit rate you’ll move to when your current deal ends is 3 months EIBOR + 1.5% profit margin for customers with a salary transfer to a FAB Islamic savings account and it will not fall below a specified rate of 1.99% over an agreed period of time.
**The subsequent profit rate you’ll move to when your current deal ends is 3 months EIBOR + 1.89% profit margin for non-salary transfer customers and it will not fall below a specified rate of 1.99% over an agreed period of time.
** 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
