| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
RAKBANK - Mortgage Home Loans
|
Minimum Salary: AED 15,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 25 Years | Flat Rate: 1.65 | Reducing Rate: 2.99 |
RAKBANK Mortgage Loans are the most flexible, affordable and easiest way to finance the purchase of property in Abu Dhabi and Dubai. RAKBANK has a team of specialist mortgage loan advisors who will provide you with dedicated and personal service and guide you effortlessly through the whole process.
Features
- Salary Transfer not mandatory.
- Low and affordable mortgage loan interest rates starting from 2.99%.
- Finance available for all major developer projects in Dubai, Abu Dhabi & RAK.
- Flexible repayment periods for the Mortgage Loans.
- Minimum formalities and fast approvals.
- Islamic Finance available.
- Under Constructions Mortgage loans for all major developers in Dubai.
** 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
