• Dubai, United Arab Emirates

Description

Dubai Islamic Bank understands that one of the greatest joys is to own or build your dream home. Al Islami Home Finance offers you a range of options to suit your specific needs. DIB offer financing for residential and commercial properties. It also offers refinancing options for customers who may already own a property or are availing of a mortgage with another institution.

Major Advantage: High Finance Amount

Points to Consider: Processing Fee Waiver only for First Time Buyers

Main Features / Benefits

Profit Rate & Charges:

  • Profit Rate: Starting from 4.89% p.a. (reducing rate)
  • Processing Fees: 0.525% of the finance amount (Nil for first-time buyers if choosing 1 year fixed rate)
  • Valuation Fees: AED 2500
  • Early Settlement Fees: 1% of outstanding Loan or AED10,000 (whichever is lower)
  • Partial Settlement Fees: 1% of outstanding Loan or AED10,000 (whichever is lower)

Finance Requirements:

  • Minimum Salary Requirement: AED 10,000
  • Minimum Length of Service Required: 6 Months for salaried
  • Salary Transfer: Not Compulsory
  • Minimum Down-payment: 20% (Fee Financing also available)

Key Details:

  • Maximum Finance Amount: AED 50,000,000
  • Islamic Finance: Yes
  • Maximum Term: 25 Years
  • Finance Available For: Any ready property which can be registered in the name of the customer in the relevant authority (across UAE)

Takaful - Insurance (Compulsory):

  • Life Takaful: 0.36% per annum (on outstanding balance)
  • Property Takaful: 0.03% per annum of property value

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