Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Holo- Mortgage for Expats Holo- Mortgage for Expats Minimum Salary: AED 10,000 Salary Transfer: Yes Early Settlement Fees: No Maximum Term: 25 Years Flat Rate: 1.06% Reducing Rate: 2.04%
** 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 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
Emirates Islamic - Bina'a Home Finance For UAE Nationals
Minimum Salary
AED 8,000
Reducing Rate
3.99%
ADCB - Home Saver
Minimum Salary
AED 8,000
Reducing Rate
-
Commercial Bank of Dubai - Mortgage Loan
Minimum Salary
AED 12,000
Reducing Rate
2.49%
Emirates Islamic - Manzili Home Finance
Minimum Salary
AED 15,000
Reducing Rate
3.49%