Features:

• Finance available in Abu Dhabi, Dubai, Sharjah, and Ajman.
• Maximum finance amount of up to AED 10 million.
• Loan tenure of up to 25 years.
• Down payment:
  • 20% for UAE Nationals.
  • 25% for expatriates.
• Unique Feature: No developer restriction, providing flexibility in property selection.

Features and Benefits:

• 0% processing fees on buyouts.
• High loan amounts of up to AED 20 million with a tenure of up to 25 years.
• Flexibility to repay up to 15% of the outstanding balance each year without additional charges.
• Financing available for salaried, self-employed, and non-resident customers.

Finance Options:

• Purchase a new property and move into your new home.
• Transfer your mortgage from other financial institutions to reduce monthly payments.
• Refinance a ready property to gain access to liquidity.
• Invest in under-construction property.
• Invest or refinance plots, land, or farmhouses (for UAE nationals only).
• Invest or refinance plots in Dubai with select developers (for expatriates).

Required Documents:

For All Applicants:

• Application form, consent letter, and authorization letter for Bureau check.
• National ID, or a valid passport, residence visa, and Emirates ID.
• Original 3 months’ bank statements (for new customers).
• Salary certificate.

For Self-employed Applicants:

• Application form, authorization letter, and consent letter for Bureau check.
• Copy of Trade License, Chamber of Commerce Registration, and Memorandum and Articles of Association.
• Original 12 months of company and personal bank statements (for new customers).

• Minimum salary requirement: Apply with a salary of at least AED 15,000.
• Available for both salaried and self-employed individuals.
• Finance up to 80% of the property value.
• Life and property insurance coverage included.
• No application fee.
• Free partial settlement of up to 20% of the loan amount.
• Option to apply with a co-borrower.

Features:

• Shorter Loan Period: Payments primarily reduce the principal amount, resulting in a shorter loan term.
• Interest Savings: Interest is calculated daily on the difference between the loan balance and the money in your account, leading to potential savings.
• Withdrawal Facility: You can withdraw the interest saved, along with the money in your account, whenever needed.
• No Minimum Balance Requirement: There is no required minimum balance to maintain in your account.
• Interest Rate:
  • Fixed at 3.4% for the first 24 months.
  • Afterward, the rate switches to a variable rate that is repriced every 12 months.

Features:

• Profit rates starting from 3.49% p.a..
• Finance available for:
  • Purchases.
  • Buyouts.
  • Equity release.
• Available to both salaried and self-employed individuals.
• Maximum financing of up to 80% of the property value for UAE Nationals and 75% for expatriates on ready properties.
• Maximum finance amount of up to AED 25 million.
• Finance tenure options available for up to 25 years.

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.

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.

Product Income Requirements

• Minimum salary of AED 10K per month for expats.
• Loan options available for both salaried and self-employed applicants.

Documents Required – Uploadable Online to Holo

Identification:

• Passport
• Visa
• Emirates ID

Employment Details (For Salaried Applicants):

• Original salary letter containing name, nationality, passport number, start date, designation, and basic income.
• Latest 6 months’ pay slips (originals or company-stamped copies).

Bank Documents – Salaried Applicants:

• 6 months of personal bank statements.
• Latest credit card statement.
• Most recent personal or car loan statement.

Self-Employed Documents:

• Trade license.
• Memorandum of Understanding (MOU).
• Articles of Association (AOA).
• 2 years of audited financials (if available).

Bank Documents – Self-Employed Applicants:

• 6 months of business bank statements.
• Listed liabilities of the company.

Supporting Documents (If Required):

• Details of large or recurring monthly debits from your salary account (e.g., insurance, savings plans, regular transfers to other UAE or overseas accounts).
• Company website or profile on company letterhead if your employer is not a multinational.
• If employed for less than 1 year, a letter or proof from your previous employer detailing the length of service.
• Free zone identification card, if working in a free zone.
• Proof of deposit source.
• Passport and visa copies of spouse (if applying jointly).
• Emirates ID of spouse (front and back copies) if applying jointly.
• Attested marriage certificate (unless the husband sponsors the wife on a visa) if applying jointly.
• Full documentation for both applicants if joint income is being considered for loan eligibility.