| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Noor Bank - Home Finance For non-residents
|
Minimum Salary: AED 40,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: - | Reducing Rate: 4.99 |
Features
- Profit rates starting from 4.99% p.a.
- Non-UAE residents in the GCC and other potential investors from a wide range of G20 countries can obtain finance for up to 70% of the value on ready properties
- Maximum finance of up to AED 15 million (approx. USD 4,083,855)
- Financing options up to 25 years
- Minimum monthly salary required of AED 40,000 (approx. USD 10,890), no salary transfer required
** 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
