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Emirates Islamic Bank
Home Finance
Fees & Charges
| Processing Fees | 1 % |
| Minimum Fees | AED 2,500 |
| Early Settlement Fees | 1 % |
| Early Settlement Fees Cap | AED 10,000 |
Profit Rate
| Benchmark | 3 Months EIBOR |
| Review Period | Monthly |
| Margin | 1.79% * + 3 Months EIBOR |
Disclaimer
The actual applicable profit rate for each customer will be based on the customer eligibility. The Final terms of finance facility will be included in the facility offer letter.
General Product Features
| Residency Type | Only Residents |
| Minimum Length of Service | 3 Months |
| Employment Type | Salaried, Self-employed |
| Minimum Salary/Income - Emarati | AED 15,000 |
| Minimum Salary/Income - Expat | AED 20,000 |
| Maximum Age - Emarati | 70 Years |
| Maximum Age - Expat | 65 Years |
Details Product Features
| Finance Type | Islamic |
| Isalmic Contract Type | Ijarah / Istisnaa |
| Specific to City | All Areas in UAE |
| Minimum Finance Amount - Emarati | AED 250,000 |
| Maximum Finance Amount - Emarati | AED 18,000,000 |
| Minimum Finance Amount - Expats | AED 250,000 |
| Maximum Finance Amount - Expats | AED 18,000,000 |
| Minimum Tenor | 6 Months |
| Maximum Tenor | 300 Months |
| Grace Period - Emarati (Days till first installment ) | 45 Days |
| Grace Period - Expats (Days till first installment ) | 45 Days |
| Maximum Salary Multiples | 96 Multiples Monthly |
| Allow Consolidation | Not Allowed |
Emirates Islamic Bank offers a comprehensive Home Finance product tailored to meet the diverse needs of our customers. Whether you're purchasing your dream home, investing in property, or refinancing an existing mortgage, our Home Finance solution provides flexible terms and competitive rates to suit your requirements.
Benefits:
- Attractive and highly competitive profit rates linked with EIBOR
- 1% Processing Fee (0% processing fee for buy-outs)
- Easy documentation and quick approvals
- Low rate on Life Takaful
- Enrollment into Priority Banking (subject to eligibility)
- 2 Installments postponements available during 1 year period
- No Processing Fee, No Evaluation Fee for purchase case (from developer on handover)
- All process is governed & approved by Sharia’a Principles
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