| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
FAB - Islamic Home Finance
|
Minimum Salary: AED 15,000 | Salary Transfer: Yes | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: 0.49% |
Islamic
Home Finance
- Best-in-market
variable profit rates starting from 3-month EIBOR + 0.49%* for one year then
EIBOR + 1.49%* thereafter
- Finance
up to AED 20 million
- 0%
processing fee on buyout
- For salaried/self-employed UAE Nationals and Expats
- Options for fresh finance & buyouts
Features and Benefits
- Flexible
payment periods of up to 25 years
- Finance
up to 85% of the value of your home for UAE Nationals and 80% for Expat
(first-time buyers only)
- 0.50%
processing fee plus VAT on fresh finance for residential or investment
purposes. 1% plus VAT on incremental finance for re-finance
Eligibility
- Available
for UAE nationals and residents
- Minimum
age 21 and maximum age 70 for UAE nationals and 65 for non-UAE nationals
or 70 years if self-employed
- Salaried
customers: min monthly salary AED 15,000
- Self-employed
customers: min monthly salary AED25,000
Terms and conditions apply.
*This is a variable profit rate offer based on a three-month EIBOR plus a margin rate of 0.49%** for one year then 1.49%* per year thereafter
Features are subject to alteration/cancellation.
All finances are subject to income and eligibility criteria.
Eligibility criteria are subject to change from time-to-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
