You are required to put 25% as downpayment for this product. UAE National finance of 1st property; if the value of property less or equal to AED 5 million 20% down payment is required and if the value of the property is more than AED 5 million 30% is required as down payment. UAE National finance of 2nd or subsequent property; 35% is required as down payment. Expatriate finance of 1st property; if the value of property less or equal to AED 5 million 25% is required as down payment and if the value of the property is more than AED 5 million 35% is required as down payment. Expatriate finance of 2nd or subsequent property; 40% is required as down payment. Finance repayment period of up to 25 years. You require a minimum salary of AED 15,000 per month to be eligible It is a requirement to transfer your salary to apply. The processing fee is 1% of loan amount The early settlement fee is 1% [max AED 10000] Life & property Insurance is covered and the fee is 0.03% of the outsanding balance. The rate is 3.49% variable for one year, then 4.5% variable. The rate is calculated as a reducing rate. This rate is variable and is based on EIBOR plus a margin by the bank. The reducing rate of this finance is 3.49% and the equivalent flat rate is 1.92%. The calculation used is a division of the reducing rate by 1.814 and this is indicative only Any completed property.
| Min. Salary | AED 20,000 |
| Flat Rate (est. equivalent) |
From 1.92% p.a. |
| Reducing Rate (est. equivalent) |
From 3.49% p.a. |
| Arrangement Fee | 0% |
| Downpayment | 25% |
| Max Finance Amount | AED 7.3M |
| Fixed/Variable | Variable |
| Early Settlement Fee | 1% |
