Features:
- Sharia-compliant finance.
- Minimum 25% down payment of the property value.
- Finance repayment term of up to 25 years.
- Minimum salary requirement of AED 7,000 per month.
- No requirement to transfer salary to apply.
- Processing fee:
- 1% of the finance amount for Ijarah transactions.
- No fee for balance transfers.
- Early settlement fee: 1% of the outstanding finance amount, capped at AED 10,000.
- Group Takaful rates: Up to 0.03% per month.
- Profit rates:
- Starting at 3.24% variable.
- 3.49% p.a. for Standard Ijarah cases.
- 3.24% p.a. for pure Buyout cases.
- Based on the Central Bank’s 6-month EIBOR rate plus a bank margin.
- Fixed rate option available for freehold properties under Murabaha.
- Reducing rate of 3.24%, with an equivalent flat rate of 1.79% (calculated by dividing the reducing rate by 1.814, for indicative purposes only).
- Finance available for:
- Ready properties that can be registered in the customer’s name with the relevant authority across the UAE.
- Under-construction properties through the Government Housing Scheme – Mohammed Bin Rashed Establishment.
