Emirates Islamic – Home Finance
Minimum Salary
AED
Monthly Payment
7405
Downpayment
%
Rate
1.74%
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This promotion from Emirates Islamic offers an enticing opportunity to get home financing at competitive rates starting from 3.99% per annum. Here’s a breakdown of the key benefits and details:

Key Features:

  • Profit Rates:
    • Fixed rate starting at 3.99% p.a. for up to 5 years.
    • Variable rate based on 3 Months EIBOR + 1.74% p.a..
  • Processing Fees:
    • 0.5% of the finance amount for ready properties.
  • Other Benefits:
    • Simple documentation and swift approvals.
    • Low rates on Life Takaful (Islamic life insurance).
  • Financing to Value (FTV):
    • 80% for expats.
    • 85% for UAE Nationals.

Important Dates:

  • Offer valid until 31 May 2024.
Calculator Terminology

Principal Amount: The initial amount of money borrowed.

Annual Interest Rate (%): The yearly interest rate applied to the loan or credit product, also known as APR in this context.

Loan Term (Years): The original duration of the loan or credit agreement, stated in years.

Effective Monthly Payment: The total monthly payment that accounts for all fees and associated costs related to the product.

Calculated Annual Percentage Rate (APR): The APR is computed using the annual interest rate along with fees and other expenses. It serves as a standardized measure for comparing the overall cost of different products with varying interest rates and fee structures across different financial institutions.

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