Dream Home…Having your own home in your city is something every human being dreams about in life. When you have one of your own, it is considered a valuable asset as its value increases with time. Buying a property is one of the most important financial decisions you make in life. We also help you in getting re-finance your home if you require liquid cash for other important business.
Overview
Home Loan products to suit every customers need
Low Interest Rates
Low Processing Fee
No Hidden Charges
3rd year onwards interest rate is linked to Emirates Interbank Offered Rate (EIBOR) of the bank and is reset
Quarterly.
Interest charges on Daily Reducing Balance
Longer tenor up to 25 years
Moratorium period up to 06 months after the loan amount is disbursed.
Easy Top Up facility available
Eligibility Criteria
UAE Nationals / Expats / PIO / OCI residing in UAE for last 02 years
For constructing, purchasing or renovating a house for owner occupier or investment purpose
Age
Minimum – 21 years
Maximum- For salaried Class – 65- years at loan maturity
For Others – 70- years at loan maturity
Limit – Min. – AED 200000 Max -AED 60000000
Charges
Interest Rate and Charges | |
Interest Rates
| Fixed plus Variable First 2 Years –5.10%p.a. fixed( reducing balance) 3rd Year onwards –2.00% over 3 months EIBOR with minimum of 4.50% Variable from Day one 2.00% plus 03 Months EIBOR with minimum of 3.50% p.a. |
Processing Fees | New– 1.00% of loan amount with a ceiling of AED 25,000/- plus applicable VAT Takeover – 0.25% of the loan amount with a ceiling of AED 10,000/- plus applicable VAT |
Warning
– If you do not keep up your repayments/payments, you may lose your property
– You may have to pay penalties if you pay off a loan/financing early
– Refinancing your loans/financing may take longer to pay off than your previous loan/financing and may result in paying more in interest/profit
– If you do not meet the repayments/payments on your loan/financing, your account will go into arrears. This may affect your credit rating, which may limit your ability to access financing in the future
