Expats are required to put 25% as down payment for this finance. UAE Nationals are required to put 20% as down payment for this finance.
Finance repayment period of up to 25 years.
You require a minimum salary of AED 15,000 per month to be eligible.
It is not a requirement to transfer your salary to apply.
The processing fee is 1% of the loan amount
The early settlement fee is applied as per UAE Central Bank policy, which is 1% of the outstanding amount (principal + profit) to date, or AED 10,000, whichever is lower.
The Insurance fee is 0.035% per year of property value
The interest rate starts from 3.99% fixed for 3 years. The 4th year and on will be 1.49% + EIBOR
This rate is variable and is based on EIBOR plus a margin by the bank.
The reducing rate of this finance is 3.99% and the equivalent flat rate is 2.09%. The calculation used is a division of the reducing rate by 1.901 and this is indicative only.
Finance available on most ready projects with Title Deeds